Each week, the editorial team of Mortgage Solutions will select our highlights of the last seven days in our editor’s picks.
First off was the announcement that Toni Smith, formerly of Primis, has been hired by Sesame Bankhall Group as its distribution director. This is still subject to regulatory approval and will see Smith take responsibility for growing the business, spearheading distribution and developing the mortgage and protection proposition for the Sesame Bankhall Group members.
Next was an analysis from Moody’s that suggested that despite improving mortgage rates, affordability would worsen for some borrowers – particularly non-conforming borrowers and buy-to-let (BTL) customers. The rating agency suggested this might impact residential-backed mortgage securities, as the portfolios would be made up of weaker accounts.
It also said this weakened borrower affordability would continue to be apparent until 2026.
This week, Mortgage Solutions published a podcast it held with Foundation Home Loans, in which the conversation turned to how brokers should engage with specialist conveyancers to ensure the best outcome for their clients. It was recommended that advisers start the relationship with a specialist conveyancer as early in the process as possible.
Guidance from The Property Ombudsman about how private landlords should prepare for the introduction of Awaab’s Law was released as proposed in the forthcoming Renters’ Rights Bill, with suggestions to hire a specialist to identify the cause of damp and mould in rental properties at the earliest opportunity.
Introducing the Green Living Reward
Your clients can now get up to £2,000 cashback for making energy-efficient home
Sponsored by Halifax Intermediaries
Lastly, was a report from Paragon, which pointed to a rise in the use of limited company structures to invest in BTL. The lender suggested this trend was set to continue, as landlords aim to maximise on their tax position.
It said this behaviour tended to be favoured by experienced landlords with larger portfolios.
Sesame appoints former-Primis exec Smith as distribution director
Mortgage affordability to ‘weaken’ as borrowers fix at higher rates – Moody’s
Property Ombudsman issues renter and landlord guidelines in damp and mould crackdown
Landlords increasingly use company structures to invest in buy-to-lets
