This week’s top headlines: Santander reducing rates across its mortgage range and Renters Rights Act triggers evictions

Explore these and other major industry updates below:

Santander cuts mortgage rates, fees and brings back low-LTV FTB deals

Santander is reducing rates across most of its mortgage range from 18 June, with cuts to many fixed and tracker products for new and existing residential and buy-to-let customers.

However, some first-time buyer products at 85% LTV will see rate increases, while the lender is also introducing new home mover products, lowering product fees, reintroducing selected first-time buyer products, and extending key application and completion deadlines by one month.

House prices see biggest fall for June in 14 years: Rightmove

Rightmove reports that average asking prices for newly listed homes fell by 0.6% in June to £376,191, marking the largest June decline in 14 years as sellers respond to strong competition and increasingly price-conscious buyers.

While buyer demand and sales activity remain broadly in line with recent years, high stock levels, affordability pressures and cautious buyer behaviour are creating a more price-sensitive market, with stronger performance seen in more affordable northern regions than in southern England and Wales.

Almost 20,000 evicted in month before Renters’ Rights Act

New research from COHO suggests that almost 20,000 tenants were evicted in the month before the Renters’ Rights Act came into force, with around one in four tenants reportedly served notice ahead of the ban on Section 21 “no-fault” evictions.

The analysis indicates that landlords accelerated evictions in response to the reforms, with many becoming more cautious about managing risks such as rent arrears and anti-social behaviour in the absence of the Section 21 process.

Fleet Mortgages appoints Coulson and Parkes

Fleet Mortgages has strengthened its executive committee with the appointments of Toni Coulson as risk and data insights director and Andy Parkes as operations director under managing director Nicola Richardson.

The pair bring extensive experience in risk, data, operations and business transformation, and will help support the lender’s growth strategy, operational performance and ongoing investment in its proposition and technology.

Dudley grows lending to record £131m

Dudley Building Society has reported record gross mortgage lending of £131 million for the year to March, up nearly 6% on the previous year, with mortgage balances increasing to £558 million.

The lender also achieved record savings balances of £592 million and attributed its growth to continued investment in technology, including a new intermediary portal aimed at improving efficiency and broker support.

Nationwide continues to reduce rates with lowest at 4.29%

Mortgage Mum joins HomeOwners Alliance

HomeOwners Alliance has appointed Mortgage Mum – Sarah Tucker as its lead mortgage spokesperson, with responsibility for providing mortgage commentary to the media and creating consumer-focused content, including videos and webinars.

Working alongside Paula Higgins, Tucker will help strengthen the organisation’s support for homeowners and buyers through expert advice, education and housing market advocacy.

Fewer tenants see rent hikes in first month of RRA: Hamptons

Research from Hamptons found that fewer tenants experienced rent increases in the first month after the Renters’ Rights Act came into force, with the number of rises in May down 23% year-on-year.

However, while rent increases may become less frequent under the new rules, those that do occur could be larger, with affected tenants seeing average annual increases of 5.4%, while rents for newly agreed tenancies rose by a more modest 1.1%.

Housing market may be in rude health after all, says Conveybuddy

Data from Conveybuddy suggests the housing market remains resilient, with purchase instructions rising steadily across April, May and June and increasing by 37% over the period.

While remortgage activity has normalised following unusually high volumes earlier in the year, survey instructions have continued to grow strongly, indicating ongoing buyer demand and transaction activity despite wider economic uncertainty.

Castle Trust and London Credit cut rates, Harpenden launches expat proposition