This week’s top headlines: Ben Thompson to leave MAB andEx-Connells chief wins fiery age discrimination and unfair dismissal cases.
Explore these and other major industry updates below:
Mortgage Advice Bureau director of home moving strategy Ben Thompson is to leave the business at the end of the year after eight years, having previously served as deputy chief executive and most recently led the development of its home moving proposition.
MAB chief executive Peter Brodnicki praised Thompson’s contribution during a period of significant growth and transformation, while the firm says it will continue building on the strategic initiatives he has established.
HSBC to make sweeping cuts tomorrow
HSBC is cutting rates across its residential and buy-to-let ranges tomorrow, following similar reductions from Santander, Nationwide, NatWest and Barclays, although Halifax has moved in the opposite direction.
The changes come as Moneyfacts reports that July’s rate increases have reversed June’s falls, despite continued improvement in overall mortgage product availability.
NatWest to cut more than 200 rates on Monday
NatWest is cutting rates on 216 new business mortgage products by up to 24bps on Monday, with reductions spanning residential and buy-to-let deals, including mortgages for high-LTV borrowers.
The move follows similar cuts from Nationwide and Barclays, although some NatWest existing customer rates will rise, highlighting continued variation in lender pricing.
Paragon updates BTL range with rates starting at 3.55%
Paragon Bank has refreshed its buy-to-let mortgage range, with rates starting from 3.55% and products available up to 80% LTV for individual and limited company landlords across England, Scotland and Wales.
The range includes two- and five-year fixes for standard properties, HMOs and multi-unit blocks, with green mortgage rates available for properties with EPC ratings of A to C.
Ex-Connells chief wins fiery age discrimination and unfair dismissal cases
Former Connells chief executive David Livesey has won claims for age discrimination and constructive unfair dismissal after an employment tribunal found the company mishandled his departure following 33 years with the business.
The tribunal rejected his claim of an organised bullying campaign but found Connells had breached the trust and confidence between employer and employee, while its decision to class him as a ‘bad leaver’ under an executive incentive scheme amounted to age discrimination.
Paragon brings back ‘track to fix’ feature to tracker mortgages
Paragon Bank has reintroduced its ‘track to fix’ feature across its BBR tracker buy-to-let range, allowing existing customers to switch to an available fixed-rate product without paying an early repayment charge.
The feature applies to single self-contained properties, HMOs and multi-unit blocks, with tracker rates starting from 5.10% for SSC properties at up to 75% LTV.
July’s rate rises completely reverse June’s cuts: Moneyfacts
Mortgage rates rose in July, completely reversing the 12bps fall recorded in June, with the Moneyfacts average mortgage rate increasing from 5.47% to 5.59% as lenders responded to higher swap rates and renewed conflict in the Middle East.
Average two- and five-year fixes also increased, while frequent repricing reduced the average deal shelf-life to 11 days, although mortgage product choice continued to improve for a fourth consecutive month.
Mortgage arrears and repossessions fall in Q2: UK Finance
Mortgage arrears and possessions fell across both residential and buy-to-let markets in Q2 2026, with homeowner arrears down 1% and BTL arrears down 6% compared with the previous quarter, according to UK Finance.
Repossessions also declined, falling 8% for homeowners and 22% for landlords, with levels remaining well below the long-term average as lenders continue to treat possession as a last resort.
HTB appoints Quinn as development finance lending director
Hampshire Trust Bank has appointed Ashling Quinn as lending director in its development finance team, following more than a decade in banking and seven years specialising in development finance at Paragon Development Finance.
Quinn will support brokers and SME developers across the Midlands, bringing experience across credit, portfolio and relationship management.
Lifetime mortgages increasingly used by wealthy homeowners: More2life
More2life says lifetime mortgages are increasingly being used by wealthier homeowners, with 16% of plans completed in Q2 2026 secured against properties worth £700,000 or more and 7% against homes worth at least £1m.
The average property value rose 3.3% year-on-year to £463,650, suggesting property wealth is playing a growing role in retirement planning across a broader range of homeowners.
