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overtake Mortgage strategy the most popular news of this week. Santander is trimming new business, tracking rates to 34 basis points and “positive momentum” as fixed rates fall to a six-month low. Read more below:
Santander cuts new business, tracker rate is 34bp
Intermediary Santander will cut most new fixed-rate business loans to 28 basis points and select track rates to 34 basis points on March 21, which brokers hope will encourage further cuts by lenders.
Tax cuts for landlords lose £1.5bn coffers: NRLA
Changes to taxing the private rental sector cost the Treasury £1.5bn in lost profits and helped exacerbate the housing shortage for renters, according to a report from the National Homeowners Association.
‘Positive momentum’ as fixed rates fall to six-month low: Moneyfacts
According to Moneyfacts’ latest mortgage trend analysis, average two-year and five-year fixed-rate mortgages are at their lowest level in six months.
Shawbrook buys specialty lender Bluestone Mortgages
Shawbrook Bank bought specialty lender Bluestone Mortgages for cash and stock for an undisclosed amount.
Virgin Money makes changes to resi and BTL ranges
Starting March 21st, Virgin Money will be making changes to its mortgage loan (BTL) line. The lender will introduce BTL exclusive purchases and re-mortgages with £300 cashback and a free appraisal.
Mortgage Strategy Awards 2023 Shortlist Announced
It’s that time of year again when the firms and individuals nominated for this year’s Mortgage Strategy Awards are finally revealed!
Bank of England raises base rate to 4.25%
The Bank of England (BoE) raised its base rate by 25 basis points to 4.25%. The Monetary Policy Committee (MPC) voted for the change by a majority of 7 to 2, with a minority voting to keep the rate at 4%.
UK House Price Index: Latest data and reactions revealed
According to the latest HM Land Registry monthly house price index, UK house prices rose by 6.3% in January over 12 months.
Rising Asking Price Indicates ‘Stable’ Spring Buying Season: Rightmove
The median asking price for properties coming on the market in March rose 0.8% to £365,357, according to data from Rightmove that indicates a “robust” start to the spring shopping season.
Brokers sympathize with carrier shortage: Groundsure
Brokers’ empathy for the transfer workload is lacking, according to a survey conducted by Groundsure.
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