Rightmove said its underlying operating profit edged up 1% to £135.1m in the first six months of the year compared to a year ago, following “a challenging mortgage rate environment”.   The property website says its customer traffic was “resilient,” with a total of 8.3… The post Rightmove H1 profit lifts in ‘challenging rate environment’   appeared first on Mortgage Finance Gazette ..read more

NatWest says gross new home loan lending fell by more than half in the first six months of the year to £11bn from £29.6bn in December, “reflecting mortgage margin pressure”.  The high street bank added that its mortgage balances fell by £2.5bn “as customer redemptions… The post NatWest home loans tumble by more than half in H1  appeared first on Mortgage Finance Gazette ..read more

The average two-year fixed rate dropped more steeply than in previous weeks, falling by 9 basis points from 5.88% to 5.79%, the latest figures from Moneyfacts show. It comes after major lenders continued to cut prices and the lowest two-year fixed rate dipped beneath 4%… The post Two-year fixes drop 9bps: Moneyfacts rate watch appeared first on Mortgage Finance Gazette ..read more

NatWest has agreed to buy a £2.5bn portfolio of prime UK residential mortgages from Metro Bank.   The deal, for up to £2.4bn in cash, will see around 10,000 customer accounts transfer to NatWest from Metro, although the accounts will continue to be serviced by… The post NatWest acquires £2.5bn mortgage package from Metro Bank   appeared first on Mortgage Finance Gazette ..read more

Buckinghamshire Building Society has removed its dedicated Joint Borrower Sole Proprietor (JBSP) product range and integrated this facility across its prime product range up to 90% LTV for both purchase and remortgage purposes. This means that the majority of mortgage products within the society’s prime… The post Buckinghamshire integrates JBSP across prime product options appeared first on Mortgage Finance Gazette ..read more

Kensington Mortgages has launched a range of five-year fixes where the rate drops after two years for borrowers who have had a previous credit problem such as a missed bill. The new Step Down deals have been added to its Resi 6 and Resi 12… The post Kensington brings in Step Down deals appeared first on Mortgage Finance Gazette ..read more

The Mortgage Lender has cut rates on buy-to-let deals by up to 20bps today. In its core range, its five-year fixed rate at 75% LTV with a 5% fee has gone down from 5.26% to 5.06%. In its portfolio multi-loan range, its five-year fix at… The post TML drops buy-to-let rates by up to 20 basis points appeared first on Mortgage Finance Gazette ..read more

Rightmove has called on the Government to maintain the first-time buyer stamp duty threshold, warning that the number of homes qualifying for relief will plummet from 58% to 37% when it drops in April. That means that 63% of homes would be caught by the… The post Calls for extension to FTB stamp duty relief appeared first on Mortgage Finance Gazette ..read more

A shortage of skilled labour in the construction sector must be addressed in order for the Government to meet its housebuilding targets, experts have warned.  Speaking at the Westminster Social Policy Forum’s seminar on housing strategy today, Sheffield Hallam University principal research fellow Jonathan Webb,… The post Shortage of labour threatens housebuilding targets, warn experts appeared first on Mortgage Finance Gazette ..read more

Long-term fixed rate mortgages are key to making home ownership more viable for first-time buyers, but fears over future misselling claims may be preventing brokers from recommending them, an economist has claimed. Speaking at the Westminster Social Policy Forum’s seminar on housing strategy today, James… The post Reforms needed to boost long-term fixes, says economist appeared first on Mortgage Finance Gazette ..read more