Speculation mounts over new EPC deadline for landlords

Speculation is mounting that the deadline for landlords to meet new minimum energy efficiency standards for new tenants will be extended. According to a report in The Telegraph, ‘it is now understood that the deadline will be set at 2028 and apply to all rental properties’

HSBC announces resi and BTL cuts from tomorrow

HSBC has announced changes across its residential and buy-to-let (BTL) mortgages which are effective on 28 March. Rates have been reduced on a variety of products for existing borrowers, first-time buyers and movers, remortgagers, existing and new BTL customers and international residential customers.

Majority of older homeowners have no plans to downsize: Key

Most older homeowners – 70% of the 1,000 asked by Key – have no plans to downsize. And although 29% of survey participants say they do plan to downsize within the next five years, the equity release lender found that only 13% of over-75s went ahead and did so.

Almost half of households worried about paying the mortgage: L&G

Almost one in two households are concerned about being able to keep up with mortgage and rent payments over the next year, says Legal & General. According to L&G’s Rebuilding Britain Index (RBI) announced today, 95% of working UK households have experienced a real terms pay cut over the last 12 months as wages fail to keep up with inflation.

The Mortgage Works launches BTL 55% LTV range

The Mortgage Works will launch a 55% loan-to-value buy-to-let range for new and existing customers, which covers house purchases and remortgages on 30 March. 

Rental growth slows to 11.1%, but market still ‘running hot’: Zoopla

Annual UK rents slowed to 11.1%, or an average of £1,078 per month, in the first quarter of the year, data from Zoopla shows, but adds that private sector costs for tenants will “continue to run well ahead of earnings growth” this year. Rent prices have eased from a high of 12.3% in the middle of last year, as economic growth weakens, says the online property firm’s latest quarterly UK Rental Market report.  

Weekly rate watch: Fixes edge lower despite BoE rate rise

All average fixes edged lower the week commencing 20 March, Moneyfacts data shows, despite the Bank of England raising the base rate by 25 basis points to 4.25%.  

Foundation Home Loans revamps BTL and resi ranges

Foundation Home Loans has revamped its core buy-to-let and owner-occupied ranges, launching new products across both areas. In the core BTL range, the broker-only specialist lender has introduced a new F1 tier – for clients with an almost clean credit history – with two- and five-year fixes at 75% loan-to-value, with rates starting at 6.24%, and a £1,995 product fee.  

Dudley BS appoints Ohpen to transform core mortgage proposition

Dudley Building Society has announced plans to transform its core mortgage proposition for intermediaries after teaming up with a provider of cloud-based banking solutions. The 165-year-old society is investing in its digital platform to ‘significantly step up’ service to intermediaries by changing its mortgage origination journey.

MT Finance rolls out BTL product marking start of ‘new chapter’

MT Finance has rolled out its buy-to-let (BTL) product across the market, in what the lender describes as the start of a ‘new chapter in its 15-year history’. Having previously partnered with a select number of brokers, the BTL product has now been made available to all intermediaries across England and Wales.