Catch up on Mortgage Strategy’s most popular stories this week. Santander cuts new business, tracker rates by up to 34bps and ‘Positive momentum’ as fixed rates drop to a six-month low. Read more below:
Santander cuts new business, tracker rates by up to 34bps
Santander for intermediaries will cut most new business fixed-rate loans by up to 28 basis points and selected tracker rates by up to 34bps on 21 March, which brokers hope will spur further cuts by lenders.
Landlord tax clampdown loses Treasury £1.5bn: NRLA
Private rented sector tax changes have cost the Treasury £1.5bn in lost revenue and helped propel the lack of homes for tenants, according to a report by the National Residential Landlords Association.
‘Positive momentum’ as fixed rates drop to six-month low: Moneyfacts
The average two-year and five-year fixed-rate mortgages are at their lowest level in six months, according to the latest analysis of mortgage trends by Moneyfacts.
Shawbrook snaps up specialist lender Bluestone Mortgages
Shawbrook bank has bought specialist lender Bluestone Mortgages in a cash and share deal for an undisclosed sum.
Virgin Money makes changes to resi and BTL ranges
Virgin Money will be making changes to its residential and buy-to-let (BTL) mortgage range, effective 21 March. The lender will introduce BTL purchase and remortgage exclusives with £300 cashback and free valuation.
Shortlist revealed for Mortgage Strategy Awards 2023
It’s that time of year again, when the shortlisted firms and individuals in this year’s Mortgage Strategy Awards are finally revealed!
Bank of England raises base rate to 4.25%
The Bank of England (BoE) has increased the base rate by 25 basis points to 4.25%. The Monetary Policy Committee (MPC) voted for this change by a majority of 7-2, with the minority vote wishing to keep the rate at 4%.
UK house price index: latest figures – and reactions – revealed
UK house prices rose 6.3% in January over a 12-month period, according to HM Land Registry’s latest monthly house price index.
Asking price rises point to ‘stable’ spring buying season: Rightmove
The average asking price of a property coming to market in March lifted by 0.8% to £365,357, according to data from Rightmove, which it says points to “a stable” start to the spring buying season.
Broker sympathy for conveyancers in short supply: Groundsure
Broker sympathy for conveyancing workloads is in short supply according to a poll by Groundsure.
