Market Financial Solutions enters administration

Market Financial Solutions has applied to enter administration after a temporary restriction on its banking facilities caused by a procedural issue with its main provider.

The lender says the move is designed to protect employees, investors and creditors while maintaining operations under court supervision, stressing that the underlying, asset-backed business remains sound.

Founder Paresh Raja described the step as difficult but necessary to safeguard stakeholders and work towards stabilising the firm, while BDLA chief executive Adam Tyler said the specialist lending sector remains robust despite the firm’s operational challenge.

FCA sets out plans to close gaps in borrowers’ credit files

The Financial Conduct Authority has proposed reforms to give lenders access to more complete and accurate credit data, aiming to close gaps in credit files and improve lending decisions.

The watchdog says better information sharing between firms and credit reference agencies will help consumers access affordable credit while reducing risks such as fraud and unaffordable borrowing.

The consultation, open until 1 May, is expected to enhance risk assessment and competition, though lenders may need to review processes to meet stronger data-quality and reporting requirements.

Reform pledges to scrap Renters’ Rights Act

Reform UK has pledged to scrap the Renters’ Rights Act if elected, with deputy leader Richard Tice outlining plans for a “Great Repeal Bill” to remove what he called burdensome regulations, including rental reforms and planning restrictions, arguing they harm growth and raise costs.

Campaign group Generation Rent condemned the proposal as a threat to private renters, warning it would weaken vital protections and benefit unscrupulous landlords.

NatWest for Intermediaries relaxes credit score requirements

NatWest Intermediaries has removed its higher credit score requirement for higher-earning borrowers, potentially widening access to its enhanced loan-to-income multiples.

he lender recently increased its LTI cap from 5.5x to 6x for loans at 75% LTV or below for those earning £75,000 alone or £100,000 jointly, and says the change should improve eligibility and deliver more consistent lending decisions for new applications submitted from 25 February.

NatWest and Gatehouse Bank reduce rates

NatWest has cut rates across new business, existing customer and additional borrowing ranges, reducing selected two-year fixed purchase deals by up to 20bps, with 60% LTV rates now as low as 3.62%, alongside lower remortgage and buy-to-let pricing.

It has also trimmed rates on shared equity, first-time buyer and green products. Meanwhile, Gatehouse Bank has reduced rental rates on selected two-year fixed buy-to-let deals for UK expats and international residents, with pricing now starting from 4.15%, as it aims to remain competitive in the investment market.

Yorkshire Building Society makes £377.9m profit in 2025

Yorkshire Building Society reported a slight fall in 2025 pre-tax profit to £377.9m from £383.7m, though core operating profit rose to £426.7m.

Mortgage balances increased by 4.4% to £51.9bn, with gross lending up to £9.9bn and 38,400 new residential mortgages completed, including 11,000 for first-time buyers.

Chief executive Susan Allen said the society invested nearly £90m during the year to strengthen the business and enhance customer experience.

Together hires former Leeds BS chief executive Fearon

Together has appointed former Leeds Building Society chief executive Richard Fearon as a non-executive director.

Fearon, who led Leeds for seven years and has more than 25 years’ experience in retail and mutual banking, said he was pleased to join the lender during its next phase of growth, while chairman Mike McTighe said his expertise would strengthen the board as the group expands.

Paragon Bank launches intermediary relationship team

Paragon Bank has launched a new intermediary relationship team to strengthen broker support, appointing Heather Bill, Megan Botfield and Vikki Ray as relationship managers.

The trio, who bring extensive experience within Paragon and the wider property and financial services sectors, will work with brokers to progress cases and resolve queries, reporting into regional managers Sam Debenham and Andy Rudkin.

The lender said the move reflects its continued investment in improving service and making it easier for intermediaries to do business.

TSB lowers selected resi products

TSB has reduced selected residential mortgage rates, cutting two-year fixed house purchase deals up to 75% LTV and three-year fixes at 75% to 85% LTV by 0.10%.

It has also trimmed certain five-year fixed purchase rates by 0.05%, lowered two-year fixed remortgage products by 0.05% on both fee and no-fee options, and reduced selected two-year fixed product transfer rates by 0.05%, as lenders continue to ease pricing.

Danske Bank names Haines as chief exec

Danske Bank has appointed Julie-Ann Haines as chief executive from 1 July, succeeding Vicky Davies.

Haines previously led Principality Building Society for four years following a long career there in senior roles, and has also held several non-executive positions.

She said she was honoured to join the bank and looks forward to supporting its continued growth in Northern Ireland and across the UK.