HSBC launches automated remortgages

HSBC has become the first lender to introduce LMS’s automated remortgaging technology, aiming to speed up straightforward remortgage cases and reduce delays for brokers and borrowers.

The new system is designed to automate low-risk applications, giving customers earlier clarity on costs and legal requirements while allowing conveyancers to focus on more complex cases.

NatWest raises max LTI to 6.5x for high earners

NatWest has increased its maximum loan-to-income ratio to 6.5 times salary for joint applicants earning more than £150,000, in a move aimed at helping higher earners secure larger mortgages.

The change reflects growing competition among lenders to offer more flexible affordability rules, although experts warn borrowers should carefully consider the risks of taking on significantly larger debts.

Halifax and BM Solutions cut rates as NatWest makes increases

Halifax and BM Solutions are cutting mortgage rates across a range of residential and buy-to-let products, while NatWest is set to increase rates for new and existing borrowers from 21 May.

Meanwhile, Accord Mortgages is tightening affordability criteria by raising the minimum income requirement for higher loan-to-income borrowing on most residential applications.

A quarter of customers identified as vulnerable by FOS

The Financial Ombudsman says a quarter of customers who made complaints last year were identified as vulnerable, a sharp rise from the previous year as efforts to recognise vulnerability improved.

The findings come as FCA research shows many vulnerable customers still do not disclose their circumstances, despite those who do often receiving better support and understanding from financial firms.

House prices up 1.2% in May: Rightmove

Rightmove says the average asking price for homes coming to market rose by 1.2% in May, although the housing market continues to show a clear north-south divide.

While prices are still rising in more affordable northern regions, areas such as London and the South East are seeing declines, with sellers facing increased competition as the number of homes on the market reaches its highest level for this time of year since 2015.

Demand for variable rates doubles: Moneyfacts

Demand for variable and tracker mortgages has doubled since last September, according to Moneyfacts, as borrowers react to rising rates and uncertainty following recent global conflicts.

While two-year fixed deals have become slightly more popular, five-year fixes have lost appeal as many borrowers prefer shorter commitments or riskier tracker products in anticipation of possible future rate cuts.

Average mortgage rates fall despite Labour leader turmoil: Moneyfacts

Average mortgage rates edged lower this week despite ongoing political uncertainty, with Moneyfacts reporting small falls in both two- and five-year fixed rates.

However, lenders remain mixed in their pricing strategies, with some cutting rates to stay competitive while others increased or withdrew products, reflecting continued volatility across the mortgage market.

Cancelled mortgages hit record high of £8.7bn in Q1

The value of cancelled mortgages has reached a record £8.7 billion in Q1, according to Bank of England data analysed by Novus Strategy, as rising cancellations continue to cost lenders heavily in processing and valuation fees.

The increase is being linked to a volatile mortgage rate environment, with industry experts warning that reducing cancellations will be key for lenders as the homebuying process becomes increasingly complex.

Industry reacts to inflation fall to 2.8%

UK inflation has fallen to 2.8% in the year to April, down from 3.3% in March, offering some relief for borrowers and raising hopes that mortgage rates could gradually ease.

However, analysts say the Bank of England is still likely to take a cautious approach due to ongoing global uncertainty, including energy pressures and a weakening labour market, meaning the outlook for interest rates remains unclear.

Marked moves in Q1 network table

UK mortgage networks saw significant movement in early 2026, with several major firms recording net losses in appointed representative numbers as advisers increasingly prioritise compliance support, technology and fair exit terms when choosing networks.

While some groups such as Stonebridge and HLP gained firms, larger networks including St James’s Place Wealth and Quilter experienced notable outflows amid intensifying competition and industry consolidation pressures.