News in brief - 2 October 2024

United Trust Bank (UTB) has made a number of appointments to its bridging sales team as its looks to deliver its growth plans into 2025 and beyond. Paula Purdy as sales director for bridging, and will work with director of bridging, Sundeep Patel, to drive new business growth and support various projects within the division. Paul Delmonte will now serve as head of national accounts for bridging, working on his success as a key account manager. UTB has also appointed Gary Lomax as key account manager for the north, continuing his success supporting brokers across the north of England and Scotland, looking to further develop UTB’s activity in those areas.

Suffolk Building Society will now pay retention procurement fees for brokers acting on product transfers on new requests. The procuration fee will be 0.2% of the retained balance, payable for all existing customers switching mortgage products. All procuration fees will be paid within 28 days of the product transfer. Brokers are required to be registered with the society’s origination platform, Suffolk Online, in order to carry out a switch. The society noted that the procuration fee will need to be evident in the offer to be payable.

MPowered Mortgages has cut its three-year fixed rate range available to new borrowers. The rate now starts at 3.75% at 60% LTV with a £999 fee, which is the lowest rate the lender currently offers across its fixed rate range. MPowered Mortgages offers two-, three- and five-year fixed rates for new borrowers and remortgages. Three-year fixed rates for new purchase borrowers have been cut across LTV bands including 60%, 65%, 70%, 75% and 80% LTV. Further cuts have also been made to select two- and five-year fixed rates for both remortgage and new purchase customers.



Share Story:

Recent Stories


Helping landlords make their cash work harder
MoneyAge Editor, Adam Cadle, talks to Family Building Society BDMs, Arif Kara and Nathan Waller, about the resilient BTL market, the wide variety of landlords that Family Building Society caters for, and how niche products like an Offset mortgage can help improve cashflow.

An outlook on the BTL market
MoneyAge Editor, Adam Cadle, talks to Landbay senior regional account manager, Alex Witham, about current market sentiment within the BTL space and Landbay’s success in this area

Empowering advisers: A decade of education in Later Life Lending with Air Academy
Michael Griffiths is joined by chairman of Air Club and former founder and CEO of Air, Stuart Wilson, and head of the Air Academy, Daniel Holden, to look back on a decade of business focused learning at the Air Academy.


FREE E-NEWS SIGN UP

Subscribe to our newsletter to receive breaking news and other industry announcements by email.

  Please tick here to confirm you are happy to receive third party promotions from carefully selected partners.