Leeds BS and Coventry cut selected mortgage rates

Leeds Building Society is cutting residential and shared ownership mortgage rates by up to 0.35%, including high loan-to-value deals with no fees, while Coventry for Intermediaries is also reducing rates across a wide range of products for both new and existing borrowers.

The changes reflect a broader trend of lenders lowering pricing across residential and buy-to-let mortgages, alongside extending product end dates in some cases.

Monmouthshire BS goes live with Phoebus

Monmouthshire Building Society has implemented the Phoebus platform to enhance mortgage account servicing, integrating its systems to onboard new loans and support a full range of products including residential and buy-to-let.

The move, delivered with Phoebus Software, is expected to improve efficiency through automation, with plans to migrate existing mortgage and savings accounts onto the system in a later phase.

New conveyancing firm Farringdon launches

A new AI-led conveyancing firm, Farringdon, has launched in the UK residential property market, aiming to improve efficiency and transparency in the homebuying process.

Founded by Ed Boulle, the firm will use AI-driven workflows alongside legal expertise and has already partnered with agencies including JLL, with plans to begin handling instructions from May.

Chancellor’s rent freeze would be “disaster for landlord and investor confidence”

Rachel Reeves is reportedly considering a one-year rent freeze on private sector homes in England, which would prevent landlords from increasing rents as part of a wider effort to tackle rising living costs.

However, industry bodies including the National Residential Landlords Association warn the move could undermine landlord confidence and reduce housing supply, potentially pushing rents higher in the long term.

Gen H opens Scottish proposition to whole of market

Gen H has expanded its Scottish distribution to all brokers on its panel following a pilot with Mortgage Advice Bureau, giving wider access to its income booster products and lending criteria.

The move aims to support borrowers who fall outside traditional lending models, including first-time buyers and those with more complex income or residency situations.

Government no longer mulling one-year rent freeze

The UK government has ruled out introducing a rent freeze, distancing itself from earlier speculation that Rachel Reeves was considering a one-year cap on private sector rents to tackle living costs.

A Downing Street spokesperson confirmed the policy will not be pursued, easing concerns raised by groups such as the National Residential Landlords Association about potential impacts on housing supply and investor confidence.

Borrowers left in limbo as rates shift again: Moneyfacts

Borrowers face continued uncertainty, with analysis from Moneyfacts suggesting that while major lenders including Barclays, HSBC, Lloyds Bank, NatWest and Santander have recently cut some fixed rates, the overall outlook remains unclear.

Mortgage rates have risen year-on-year across fixed terms and remain elevated despite earlier base rate cuts, leaving borrowers unsure whether to lock into deals or wait, though switching from higher reversion rates could still offer savings.

NatWest, TSB and Accord drop rates

NatWest, TSB and Accord Mortgages have announced a new round of mortgage rate cuts, with reductions of up to 45 basis points across selected fixed-rate products, particularly for purchases, remortgages and existing borrowers.

The changes reflect a wider trend of easing pricing, with lenders including Coventry for Intermediaries and The Mortgage Works also lowering rates, although some tracker deals are increasing slightly.

Barclays and HSBC join in with rate cuts

Barclays and HSBC have joined other lenders in cutting selected mortgage rates, with Barclays reducing some remortgage deals while also increasing certain high loan-to-value products.

The mixed changes reflect ongoing market volatility, as lenders including NatWest, TSB and Accord Mortgages also adjust pricing, with competition intensifying despite uncertainty around future rate movements.

Paragon launches new BTL limited edition 75% LTV 5-year fixes

Paragon Bank has launched three limited edition five-year fixed buy-to-let products at 75% loan-to-value, with rates starting from 4.95% for more energy-efficient properties and higher pricing for HMOs and lower EPC ratings.

The move aims to give landlords more flexibility and improve affordability, particularly for those opting for higher-fee products in exchange for lower interest rates.