Gareth Davies
Media Coverage
Introducer Today
Bank of England Base Rate Cut - when will it happen?
Bank of England Base Rate Cut - when will it happen?
The Sun
Major lender slashes rates ahead of Bank of England interest rate decision
A MAJOR lender has slashed its mortgage rates after inflation slowed more than expected and ahead of a key Bank of England meeting. NatWest has announced it will cut mortgage deals by up to 0.24% f…
The Intermediary
NatWest makes “encouraging” changes to new business mortgage products
The changes will come into effect from tomorrow (21st March 2024).
The Intermediary
Has underwriting become overwriting?
A number of brokers have expressed frustration on Newspage recently about the state of mortgage underwriting, specifically around lenders suddenly asking for huge amounts of evidence for even the most...
The Intermediary
Total number of individual and company insolvencies rise in February, data reveals
The number of registered company insolvencies in February 2024 was 2,102, 17% higher than in the same month in the previous year.
FTAdviser
Brokers: Halifax reducing maximum working age is ‘outrageous’
Brokers have criticised Halifax for reducing the maximum working age on some of its mortgage products.
Birmingham Live
NatWest under fire over new rules for existing customers and ‘it’s not good’
Effective 12 March, the lender says it’s making the following changes to its Existing Customer product range and switcher rate has been hiked up to 10bps on selected 2 and 5 year deals.
Estate Agent Today
Down-valuations on the rise - warning
Down-valuations appear to be on the rise and it is shocking agents and mortgage brokers.
This Is Money
Last of the sub-4% fixed deals will be gone tomorrow
Homebuyers and homeowners looking to bag a sub-4% mortgage rate have until the end of today to bag the last one before they disappear.
The Intermediary
Brokers report a rise in down valuations
One broker, Laura Bairstow, said: “We have noticed a definite increase in down valuations, especially in instances where the borrower only has a 5% or 10% deposit.”
The Intermediary
UK Finance reports significant decline in later life mortgage lending in Q4 2023
UK Finance’s Q4 2023 report on later life mortgage lending reveals a substantial downturn in the market, with new loans to older borrowers decreasing by 37.1% year-on-year.
LBC
Mortgage burden to ease for many after big banks make ‘very significant’ cuts to rates
Two of the UK’s biggest mortgage lenders have announced ‘very significant’ mortgage cuts, to take effect from Wednesday.
FTAdviser
January mortgage fire sale ‘firmly underway’ following rate cuts
“The January mortgage fire sale is firmly underway” as major lenders Barclays and Santander announce rate reductions, according to EHF Mortgages managing director, Justin Moy.
This Is Money
Barclays and Santander next major lenders to cut mortgage rates
Barclays and Santander have become the latest lenders to announce cuts to their mortgage rates, including sub-4% offers.
The Independent
Two major mortgage lenders announce ‘very significant’ rate cuts
The ‘significant cuts’ follow two other major lenders last week
Mortgage Solutions
From tech to Twitter (X): what brokers plan to do differently in 2024 - Mortgage Solutions
Better use of social media, technology and diversification are among the changes brokers are planning for their businesses this year.
The Intermediary
Halifax and NatWest make further fixed rate mortgage cuts
NatWest now offering a 2-year fixed remortgage from 4.87%.
FTAdviser
‘Madness’ that FCA allows firms to solely offer equity release advice
It is "madness" that the Financial Conduct Authority allows firms to solely offer equity release advice, South Coast Mortgage Services director, Gareth Davies, has argued.
Mortgage Professional
Can Jeremy Hunt truly help first-time buyers?
Brokers discuss the Chancellor of the Exchequer latest support package
The Intermediary
Stamp duty cuts in Autumn Statement: “Idiotic doesn’t do it justice”
With the Treasury considering cuts to stamp duty in the Autumn Statement, or at least before a General Election, experts are divided on the move, with some welcoming it, but many more ridiculing it as...
The Intermediary
“The devil is in the detail” – Brokers warn of potentially misleading mortgage advice published by BBC
The post suggests that borrowers may be able to tackle rising cost of living pressures by making overpayments on their mortgage, extending their mortgage term, or switching to an interest-only deal.
Mortgage Solutions
Equity release being driven by necessity, not aspiration, as cost of living crisis continues to bite
Interest in equity release products has improved of late, brokers have reported, though the reasons for borrowing have moved from the aspirational to the necessary.
FTAdviser
Halifax reducing fixed rates a ‘lifeline’ for first time buyers
Halifax’s latest fixed rate cut is a “lifeline for first-time buyers”, The Mortgage Expert’s Darryl Dhoffer has claimed.
BirminghamLive
Halifax issues 48-hour message to customers and it’s a ‘lifeline’
One broke described the rates as “a lifeline for first-time buyers”.
The Intermediary
Halifax makes further mortgage rate reductions
Brokers told Newspage that this was a “lifeline for first-time buyers.”
The Intermediary
Now could be “perfect window” for first-time buyers, say experts
Falling borrowing costs and improved sentiment could see more buyers enter the fray soon, increasing competition for first-time buyers.
Mortgage Solutions
Down valuations ‘almost certain’ at the moment due to ‘cautious valuers’
Brokers have suggested that downvaluations are becoming ever more common at the moment as valuers adopt a more cautious approach to the market.
Mortgage Solutions
Interest-only demand ‘not as high as expected yet’ say brokers
While there has been an uptick in enquiries from clients around moving to interest-only, it has not been to the levels expected, according to intermediaries.
The Intermediary
UK mortgage borrowing rises, but net approvals and gross lending decline in July, says Bank of England
Net approvals for house purchases, a predictor for future borrowing, fell to 49,400 in July, down from 54,600 in June.
Financial Reporter
Halifax ups maximum age to 75 for mortgage lending
Brokers discussed the pros and cons of taking a mortgage to the age of 75.
FTAdviser
Broker criticises lender over mortgage charter interpretation
A broker has criticised Coventry Building Society after they could not complete a product transfer due to differing interpretations of the government mortgage charter.
The Times
The best way to overpay your mortgage
With loan rates soaring, you may need your savings — and even your pension — to work harder for you, report George Nixon and Ali Hussain for The Times
The Intermediary
UK inflation rate stands at 8.7%, highest since 1981
Meanwhile, the core inflation rate, which excludes volatile elements like energy and food costs, reached its highest level since 1992.
inews.co.uk
‘I feel like the grim reaper’: Mortgage brokers say panicked borrowers are ‘screaming for help’
One broker said he felt like ‘Del Boy mortgages’, with all offers having to go within a day due to speed of mortgage rates climbing.
Financial Reporter
Sunak considering relaunching Help to Buy scheme - brokers react
Sunak is reportedly drawing up plans to bring back the Help to Buy Equity Loan scheme.
Mortgage Solutions
Government considering Help to Buy revival
The government is understood to be drawing up plans for a relaunch of Help to Buy.
Financial Reporter
Is it currently a buyers’ or sellers’ market? - brokers react
Industry experts agreed that whether a buyer or a seller has the upper hand can differ by location, property type, and more.
Financial Reporter
Longer mortgage terms becoming commonplace, brokers say
Brokers discussed the pros and cons of longer term mortgages.
Mortgage Professional
From just helping a friend to becoming a broker firm director
Gareth Davies recounts his 16-year path in the financial services industry
Financial Reporter
Brokers face increase in complaints over two-year fixes
Jencap Partners says the number of mortgage complaints and claims will inevitably increase, regardless of whether they have any merit.
The Intermediary
Consultancy warns of rise in broker clients claiming they were misadvised
Cardiff-based Jencap Partners has warned that ambulance chasers could start targeting brokers with claims regardless of merit.
IFA Magazine
Do mortgage comparison sites have a role in advice? - Brokers and advisers share their views
Free PR platform, Newspage, asked brokers what they think of mortgage comparison sites. Some believe they have a role, others believe they simply cause confusio
Mortgage Solutions
Swap rates fall post-US bank failure could reverse rising UK base rate and mortgage price trajectory
Following the collapse of Silicon Valley Bank swap rates in the UK have fallen by as much as 0.2 per cent, which could pause the rising Base Rate trajectory and stabilise mortgage pricing.
Mortgage Professional
Barclays ups rates on select residential mortgages
Brokers share thoughts on lenders increasing rates
The Intermediary
Barclays to increase rates across a number of residential purchase and remortgage products - The Intermediary
Barclays bank is increasing interest rates on several of its mortgage products for both residential purchase and remortgage applications.