Halifax cuts rates, including 2-year fix at sub-4%

Halifax has reduced rates on a range of homebuyer and remortgage products, including a sub-4% two-year fixed deal. Its two-year fixed rate at up to 60% loan-to-value (LTV) with a £999 fee now starts at 3.94%, down by 0.12%.

Five-year fixed rates at up to 80% LTV have been cut by 0.21%, starting from 4.38% with no fee or 4.27% with a £999 fee.

Halifax has also trimmed its two-year fixed rate at 90% and 95% LTV with no fee by 0.19%, now starting at 5.15%.

LISA must carry withdrawal penalty: Treasury’s Reynolds   

Lifetime ISAs should carry penalties like other long-term savings, Treasury minister Emma Reynolds told MPs, defending the 25% early withdrawal charge despite criticism it unfairly penalises savers. She said raising the £450,000 home purchase cap would require extra funding.

Awareness of the penalty is low, and experts like Martin Lewis argue it misleads savers and should be reformed. £9.5bn has been saved in LISAs since their 2017 launch, with £2.4bn in government bonuses.

Nationwide becomes latest lender to bring back sub-4% fixes

Nationwide is cutting rates by up to 0.25% on first-time buyer and home mover mortgages, with its lowest two- and five-year fixes now under 4%.

Changes apply across products up to 95% LTV, including a two-year fix at 60% LTV with a £1,499 fee reduced to 3.89%, and a five-year fix at the same LTV and fee also at 3.89%.

The move follows similar reductions by Halifax, NatWest and Yorkshire BS, as lenders compete to attract borrowers.

Tariffs likely to push UK inflation lower: MPC Greene

Bank of England policymaker Megan Greene says US tariffs are more likely to lower than raise UK inflation, as the UK may benefit from cheaper goods from Asia and the EU. Speaking to Bloomberg, Greene noted the tariffs pose a “disinflationary risk” despite the Bank’s earlier forecast that inflation could hit 3.7% later this year.

The comments follow a sharp fall in the US dollar after President Trump criticised Federal Reserve chair Jerome Powell and imposed sweeping tariffs on over 75 nations. UK markets are now fully pricing in a rate cut at the Bank’s next meeting on 8 May, with expectations of up to four cuts this year.

Renters’ Rights Bill begins Lord’s committee stage

The Renters’ Rights Bill has entered its committee stage in the House of Lords, where peers are debating key changes such as banning Section 21 evictions, limiting rent hikes to once a year, ending bidding wars, and scrapping fixed-term tenancies.

While the bill is seen by tenant groups as a major victory, critics warn it could lead to more court disputes, higher personal debt, and rising rents. Industry figures like Oli Sherlock of Goodlord and Timothy Douglas of Propertymark are calling for careful amendments and support for landlords. UK rents are up 7.7% year-on-year, far outpacing inflation at 2.6%.

Aldermore adds limited edition BTL products, Gen H trims 2-year fix prices

Aldermore has launched limited edition buy-to-let (BTL) deals and cut rates across its BTL and residential mortgage ranges for both new and existing customers.

Residential fixed rates at 80–90% LTV have been reduced by up to 0.30%, while new BTL products with 5% fees offer rates as low as 3.54% for individual and company landlords. Rates for HMOs and multi-unit properties have also dropped. Existing residential customers see fixed rates from 5.49%, with new zero-fee deals at 90% LTV.

Meanwhile, Gen H has trimmed its two-year fixed rates by up to 30bps, focusing on high LTVs to boost first-time buyer access.

Industry reacts to ‘disappointing’ Treasury minister’s LISA evidence  

Industry figures have criticised the Treasury’s stance on Lifetime ISAs, calling comments made by Economic Secretary Emma Reynolds “disappointing.” Reynolds defended the 25% early withdrawal charge—seen by many as an unfair 6.25% penalty on savers’ own money—and rejected raising the £450,000 house purchase cap, saying changes would require additional funding.

Skipton Building Society and Moneybox both called for reforms, including raising the cap and easing penalties to reflect today’s housing market. Critics argue these adjustments are essential to ensure LISAs remain effective for first-time buyers, especially amid rising house prices and affordability challenges.

HSBC eases stress tests to boost FTB lending by up to £39,000

HSBC has eased its mortgage stress tests, allowing some first-time buyers to borrow up to £39,000 more. The move, effective immediately, could help an extra 20,000 customers qualify for loans.

This follows similar steps by Halifax and Santander, and comes after the Financial Conduct Authority urged lenders to be less cautious.

HSBC says the change aims to improve affordability and make homeownership more accessible for buyers struggling under current lending criteria.

Standard Life Home Finance appoints Quinn as head of sales

Standard Life Home Finance has appointed Phil Quinn as head of sales. Quinn, formerly of Bluestone and LiveMore Mortgages, brings extensive experience in specialist lending. In his new role, he’ll focus on expanding adviser relationships and boosting education in the later life lending market.

He’ll also lead the firm’s adviser clinics, covering topics like underwriting and the impact of repayments on lifetime mortgages.

Coventry launches limited company BTL mortgages

Coventry for Intermediaries has launched limited company buy-to-let mortgages for both remortgages and purchases. The offering allows up to four directors or shareholders on an application and includes access to a panel of over 200 solicitors.

The new product comes with several criteria changes, including increased maximum lending exposure to £2.5m, allowing landlords to have up to seven properties, and a portfolio limit of 15 properties.

Kevin Purvey, Director of Mortgage Distribution, highlighted that the move into limited company lending aligns with the society’s trust in the buy-to-let market and aims to provide brokers with valuable tools to serve their clients.