This week’s high headlines: Brokers and lenders break up over way forward for residence loans recommendation and Pepper Advantage acquires Computershare’s UK mortgage enterprise.
Explore these and different main trade updates under:
Nationwide appoints (*22*) as director of mortgage intermediaries and partnerships
Nationwide has appointed Damian (*22*) as director of mortgage intermediaries and partnerships from 1 October, succeeding Ian Andrew, who departs after 18 years.
(*22*), presently industrial director of landlord at The Mortgage Works, will oversee middleman relationships and third-party partnerships throughout mortgages, insurance coverage, safety and investments, together with Nationwide’s tie-up with Aviva.
He will report to Henry Jordan, group director of mortgages, who praised each (*22*)’s sector experience and Andrew’s longstanding contribution to the middleman market.
Brokers and lenders break up over way forward for residence loans recommendation
Lenders are divided over the FCA’s mortgage rule evaluation, with the Intermediary Mortgage Lenders Association stressing that skilled dealer recommendation is important, whereas the Building Societies Association helps better flexibility for digital and advice-light gross sales.
The FCA goals to increase entry for teams resembling first-time consumers and the self-employed, however acknowledges reforms might reduce middleman gross sales and lift repossessions, main to requires a measured, phased strategy.
Pepper Advantage acquires Computershare’s UK mortgage enterprise
Pepper Advantage is buying Computershare’s UK mortgage servicing enterprise, together with Topaz Finance and Zephyr, boosting its managed property to round £50bn topic to regulatory approval.
The agency plans to migrate all UK loans onto its PRISM platform to drive effectivity, scale and data-led insights.
Chief government Fraser Gemmell mentioned the deal strengthens Pepper Advantage’s technology-led strategy, expands its capability to serve purchasers and clients, and welcomes Computershare’s UK mortgage staff into the group.
NatWest launches BTL loans, modifications chosen resi charges
NatWest has launched a brand new vary of landlord loans alongside price modifications throughout residential merchandise.
Its buy-to-let buy and remortgage fixes include charges from £1,499 to £5,999, together with two- and five-year choices at up to 75% LTV. The financial institution has additionally adjusted residential charges, with some cuts of up to 20 foundation factors for first-time consumers and excessive LTV debtors, whereas others, resembling chosen remortgage and high-value buy fixes, have risen by as a lot as 11bps.
Santander provides product transfers to main sourcing methods
Santander will make its product switch charges out there on all main sourcing methods from Friday, aiming to give brokers better transparency and ease when supporting clients.
Head of Santander for Intermediaries Graham Sellar mentioned the transfer reinforces the financial institution’s dedication to no twin pricing and extra environment friendly dealer processes.
The change comes shortly after the FCA closed its session on mortgage rule reforms, which embrace proposals to simplify and cut back the price of remortgages and product transfers.
Inexorable’ drive to reduce threat has shut consumers out: UK Finance
UK Finance has warned that extreme post-crisis warning has left many creditworthy consumers unable to entry mortgages, urging the FCA’s evaluation to stability threat with affordability.
It welcomed current lending relaxations however cautioned towards additional easing with out extra housing provide.
The Building Societies Association additionally argued present guidelines overly limit entry, whereas UK Finance backed a evaluation of the Financial Ombudsman Service to give lenders better readability, warning that poorly designed reforms threat creating new “mortgage prisoners”.
News Analysis – Property taxes in chancellor’s Budget crosshairs
The Treasury is weighing a collection of property tax reforms forward of the autumn Budget, aiming to increase up to £20bn.
Proposals embrace changing stamp obligation with a seller-side tax on houses over £500,000, introducing a neighborhood property levy to change council tax, making use of National Insurance to rental earnings, and ending capital features exemptions on major residences above £1.5m.
While some measures might ease obstacles for consumers, critics warn they might deter gross sales, cut back provide, push up rents and pressure landlords — with potential knock-on results for each the broader housing market and authorities housing coverage.
Foundation names Evans as CFO
Foundation Home Loans has appointed Michael Evans as its everlasting chief finance officer, after serving within the function on an interim foundation earlier this yr.
With over 22 years of expertise throughout monetary companies, SMEs and world establishments, Evans beforehand held CFO roles at Octopus Electric Vehicles and LendInvest, serving to the latter by its IPO.
He will work alongside CEO Pete Ball to help the corporate’s progress and strengthen its place within the specialist lending market.
Halifax Intermediaries makes value modifications, Virgin Money cuts charges
Halifax Intermediaries has adjusted charges, chopping chosen homemover and first-time purchaser fastened charges by up to 0.14%, whereas elevating some remortgage, product switch and additional advance charges by up to 0.13%.
Meanwhile, Virgin Money will launch new offers and cut back a number of charges from 23 September, together with two- and five-year fastened buy and remortgage merchandise, in addition to buy-to-let choices, whereas withdrawing its 95% LTV two-year fastened price fee-saver in the present day.
(*26*) tax probes web document £107m
HMRC recovered a document £107m from landlords in 2024/25, greater than double 2021/22 ranges, pushed by voluntary disclosures and compliance checks.
Many “unintentional” landlords fall right into a “phantom revenue” lure due to lowered mortgage curiosity reduction.
Upcoming measures like Making Tax Digital, decrease capital features exemptions, and better company tax are set to complicate compliance additional, although previous tax rises have helped enhance housing availability for first-time consumers.
