Post Office Money has recently launched a product for first-time buyers which does not require them to have a deposit to buy a property.
The lender allows first-time buyers to borrow up to 90% of the prospective property’s value, and lends the further 10% as a mortgage secured against the buyers’ assistor, usually a close family relative. The second mortgage is interest-free, but can only be taken out if the assistors property is mortgage-free.
The borrower then continues to make two separate mortgage payments for five years, in which time they must repay the mortgage secured against the assistors’ home. After the five-year period, borrowers can then repay their first mortgage over a term of up-to 35 years. The maximum loan is £500,000 and borrowers must have an assessable income of at least £20,000.
SmartSearch awarded with The Queen’s Enterprise award
SmartSearch has been awarded with the The Queen’s Enterprise award, which is award to companies that have excelled in international trade, innovation, sustainable development or promoting opportunity and is the highest award for British businesses.
SmartSearch has won the award in the innovation category for its “world-leading” anti-money laundering (AML) verification platform, which is used by many accounting firms.
Yolt becomes first money app to complete open banking integration
Yolt has become the first money app to successfully complete the Open Banking integration with the RBS Group.
The announcement follows on from the news that Yolt was onboarding up to 100 users per day from RBS, NatWest and Ulster Bank to benefit from the new regulations. The integration allows users to have more control over their banking data and “easily compare” different products.
Yolt COO Leon Muis said: “This latest achievement is testament to all of the hard work that has gone into making this fully functioning Open Banking API connection possible and we will continue to work hard with our partners to allow our users to remain at the forefront of the Open Banking experience.”
InterBay launches new network partnership with Intrinsic
InterBay Commercial has launched a new network partnership with Intrinsic Financial Services as it continues to seek to “diversify and expand” its existing distribution network.
Intrinsic network members can now access InterBay’s range of commercial, semi-commercial, buy-to-let and HMO products, offering advisers access to lending against a wide range of property types, to both investors and trading businesses.
OneSavings Bank sales director Adrian Moloney said: “We know that advisers are dealing with an increasing number of complex borrowers and those with specialist lending needs. At InterBay we use our extensive expertise and knowledge to provide bespoke solutions with a commitment to offering real value and we’re looking forward to sharing this with Intrinsic members.”
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NEW BUILD IN FOCUS - NEW EPISODE OF THE MORTGAGE INSIDER PODCAST, OUT NOW
Figures from the National House-Building Council saw Q1 2025 register a 36% increase in new homes built across the UK compared with the same period last year, representing a striking development for the first-time buyer market. But with the higher cost of building, ongoing planning challenges and new and changing regulations, how sustainable is this growth? And what does it mean for brokers?
The role of the bridging market and technology usage in the industry
Content editor, Dan McGrath, sat down with chief operating officer at Black & White Bridging, Damien Druce, and head of development finance at Empire Global Finance, Pete Williams, to explore the role of the bridging sector, the role of AI across the industry and how the property market has fared in the Labour Government’s first year in office.
Does the North-South divide still exist in the UK housing market?
What do the most expensive parts of the country reveal about shifting demand? And why is the Manchester housing market now outperforming many southern counterparts?
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance, to explore how regional trends are redefining the UK housing, mortgage and buy-to-let markets.
The new episode of The Mortgage Insider podcast, out now
Regional housing markets now matter more than ever. While London and the Southeast still tend to dominate the headlines from a house price and affordability perspective, much of the growth in rental yields and buyer demand is coming from other parts of the UK.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
In this episode of the Barclays Mortgage Insider Podcast, host Phil Spencer is joined by Lucian Cook, Head of Research at Savills, and Ross Jones, founder of Home Financial and Evolve Commercial Finance.
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