Hargreaves Lansdown launches next phase of Active Savings; and more...

Written by Oliver Wade
14/09/2018

Hargreaves Lansdown (HL) has introduced a new service for cash savers which will allow them to pick and mix fixed term savings products from a range of UK banks and building societies through one online account.

The firm has reported the account will work alongside consumers HL ISA, SIPP and general investment accounts, thus enabling users to spread their money, savings and investments most suitable for them.

Hargreaves Lansdown head of investment research Mark Dampier: “It’s no secret that it’s hard work to earn a consistently good rate on your cash savings. The majority of us leave cash in the same accounts for years, earning next to nothing in interest.

“Our clients told us most of them don’t have time to chase the best rates – they just want consistently good returns, more choice and cash savings which are easy to manage alongside their investments and pensions.”

Hinckley & Rugby BS cuts interest rates on 95% LTV rates

Hinckley & Rugby Building Society has recently announced it has cut the interest rates on three of its 95% LTV residential mortgage products.

Its five-year fixed rate mortgage sees its charging rate fall from 3.75% to 3.49%, while its two-year fix is now charging 3.09%, down from its previous 3.19%.

Commenting, Hinckley & Rugby head of sales and marketing said: “Whether your client is a first time buyer, remortgaging or moving up the ladder, a 95 per cent LTV product can be just what they are looking for.

“By cutting these rates we now offer even greater value among the options for borrowers with smaller deposits. And all our mortgages are backed by our outstanding customer service and the benefits of our manual underwriting.”

Foundation Home Loans launches incentive package for remortgagers

Foundation Home Loans recently launched its Buy to Let 5 Year Remortgage Special, an incentive package created for landlords looking to keep costs down while remortgaging.

The BTL 5 Year Fixed Remortgage Special package will offer a free standard valuation (not Homebuyers Report or Structural Survey) per application, and £250 cashback paid following completion. To further help with remortgage costs, the product fee will be reduced from 2% to 1.75%. It will be available to all landlords, including portfolio landlords and limited companies.

Available across its distribution network, 5 Year Fixed Rates start at 3.59%, with LTVs at the upper bands of 65% and 75%.

Belmont Green Finance brings £500m securitisation

Vida Homeloans parent company Belmont Green has recently announced it has priced a £500m UK mortgage-backed securitisation.

The transaction is the third in Belmont Green’s Tower Bridge programme and marks a milestone of £1bn of securitised loans in under 2 years since launch.

Commenting, Vida Homeloans chief executive officer David Tweedy said: “Tower Bridge Funding No.3 - Belmont Green’s third UK residential mortgage backed securitisation - has progressed smoothly. This transaction is a sizeable step in Belmont Green’s plan to become a regular issuer of residential mortgage-backed securities and means that we have now securitised over £1 billion in mortgage assets since launching the business in October 2016.”

Kensington Mortgages becomes £1bn a year lender

Kensington Mortgages has recently announced that it reached a ‘mortgage milestone’, having lent over £1bn in a rolling 12 month period.

Kensington Mortgages a subsidiary of The Northview Group surpassed this lending milestone following a surge in activity which accompanied the introduction of its buy-to-let limited company product and expansion of its residential lending product offerings, all of which have been implemented in the past six months.

Kensington Mortgages sales and marketing director Craig McKinlay said: “At Kensington, our primary focus has always been to help Britain’s underserved borrowers, and this milestone proves that we are achieving that goal. This announcement is a culmination of the exciting product changes during 2018. It has once again demonstrated our commitment to the specialist lending market, as we reach out to a wider customer base and provide more flexibility for Buy-to-Let landlords.”

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Adam Cadle talks to Vida Homeloans director of sales - mortgages Louisa Sedgwick about the specialist first time buyer and buy to let markets

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