From Monday next week, the revaluation fee for further advance applications with Halifax Intermediaries will be a flat fee of £150.

This is instead of a tiered fee scale for further advances where the total borrowing is above 80 per cent LTV being used.

In a note to brokers, Halifax says: “The fee change only applies to new further advance applications keyed from Monday 10 August 2020.

“Any applications keyed before this date will still require the previous fee amount if a revaluation is required.

In other news, Metro Bank has suspended new broker registration. On its website, the lender states: “We have recently seen a substantial increase in registrations and will therefore be temporarily suspending new registrations whilst we clear our pipeline. Please bear with us and we will update our website when we re-open.”