The Bank of England’s rate-setting body is likely to keep interest rates on hold at 5.25% for the sixth time in a row when it meets on Thursday, as stronger wage and inflation data has pushed back the chances of a summer rate cut.   … The post MPC rate preview: Focus on the inflation forecast  appeared first on Mortgage Finance Gazette ..read more

HSBC chair Mark Tucker forecasts that the Bank of England will make its first rate cut in June, followed by two more reductions by the end of next year.   That would lower Bank rate to 3.75%, from its current 5.25% level, where it has remained at a… The post HSBC chair Tucker forecasts first BoE rate cut in June   appeared first on Mortgage Finance Gazette ..read more

Mortgage Brain has added Nomo to its Sourcing Brain platform. This new partnership will provide brokers access to Nomo’s Sharia-compliant residential and rental property finance products. Nomo is a UK-based, Sharia-compliant digital bank. It is part of the Bank of London and The Middle East… The post Nomo Bank added to Mortgage Brain platform appeared first on Mortgage Finance Gazette ..read more

Hinkley & Rugby has announced a fresh tranche of interest rate cuts. The mutual has reduced rates on several products, including Income Flex and Ltd Company Buy-to-Let mortgages. These latest reductions come hot on the heels of an initial round of rate cuts of up… The post Hinkley & Rugby launches two fixed deals and cuts rates across range appeared first on Mortgage Finance Gazette ..read more

More than twenty lenders made fixed rate increases this week, including some of the biggest brands. As Moneyfacts finance expert Rachel Springall points there were also a few deals disappearing from the market, including deals priced below 5% - an echo of last week’s movements.… The post Lenders continue to pull sub-5% deals: Moneyfacts appeared first on Mortgage Finance Gazette ..read more

UK average house prices edged 0.4% to £280,660 in February from a month ago, even as higher interest rates impact “continue to impact the housing sector,” says Propertymark.   The number of home appraisals fell 7% month-on-month as gross mortgage advances and new lender commitments fell, says the estate agents’… The post House prices edge higher despite base rate effect: Propertymark   appeared first on Mortgage Finance Gazette ..read more

Molo and ColCap UK have completed their first £300m securitisation of buy-to-let mortgage loans in England and Wales.  The deal is a residential mortgage-backed security transaction called ‘Molossus BTL 2024-1’ containing prime landlord properties.  The package received an AAA rating from Fitch and S&P Global.… The post Molo and ColCap complete £300m BTL securitisation  appeared first on Mortgage Finance Gazette ..read more

The average gross rental yields hit 6.1% in the first three months of the year, their highest level for almost four years, according to Paragon Bank.   This rate is the third successive quarter of rises, and highest level since the second quarter of 2018 when yields hit 6.2%.  … The post Rent yields hit highest level since 2018: Paragon   appeared first on Mortgage Finance Gazette ..read more

A fundraising 125-mile walk from the West Midlands to London led by three Mortgage Industry Mental Health Charter (MIMHC) founders is gearing up to raise as much money as possible for charity. The sponsored hike will take place over five days and forms part of… The post MIMHC founders on Midlands to London Walk & Talk fundraiser appeared first on Mortgage Finance Gazette ..read more

United Trust Bank has promoted Bradley Illman to key account manager for London.  Illman joined the lender in 2012 as an underwriter in the bridging division and was instrumental in the creation of its bridging internal sales team. In his new role, Illman will be the… The post Illman promoted to key account manager at UTB appeared first on Mortgage Finance Gazette ..read more