News in brief - 28 March 2024

Market Financial Solutions (MFS) has appointed Liza Campion as its new head of national accounts. She has worked in the mortgage industry since 1986 and has held positions at Scottish Life, Legal & General, Mortgage Trust and Paragon Mortgages. Campion went on to spend several years at Southern Pacific Mortgage Limited, Alliance of Mortgage Packagers & Distributors, Precise Mortgages and OSB Group. She is the latest high profile hire at MFS, which is looking to expand its size and product range. Campion will report to MFS head of sales, Karen Rodrigues.

MPowered Mortgages has enhanced its AI technology-driven mortgage application platform Origo to reach the milestone of delivering a fully underwritten mortgage offer in 15 minutes. Research by the lender has suggested that the average application to offer time among UK lenders is approximately 17 days. However, with investment in advancing the Origo platform, it can now achieve 80% of offers within 24 hours and 20% within two hours. The application uses big data, language models and machine learning to assess data and customer documents in real time, reducing the back and forth between lenders and brokers. It has also been announced Nottingham Building Society has also been using the Origo platform.

Buy to Let by Foundation has introduced a new five-year fixed-rate buy-to-let (BTL) product to further extend its core BTL proposition. The product is available within the specialist lender's F1 product tier, which is for landlord clients with an almost clean credit history. It is available for portfolio and non-portfolio landlord borrowers at 5.74% at up to 75% LTV with a 1% fee, and also comes with a free valuation. The five-year fix follows the launch of a two-year fixed-rate option last week, which comes with a rate of 5.79% at up to 75% LTV and a 1% fee.

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