Hampshire Trust Bank (HTB) has promoted Mia House from its specialist mortgage team to its bridging division, where she will work as business development director for bridging. House has worked in HTB’s specialist mortgage division for over five years, where she held the position of business development manager, operating across the south west region. As part of the new role, House will be responsible for managing key accounts across the south east of England and will work closely with the head of sales to ensure all strategic targets are met within these accounts.

Foundation Home Loans has announced a further enhancement to its owner-occupied proposition through the launch of products with enhanced loan-to-income (LTI) limits for key workers. As part of Foundation’s F1 tier range, which is designed for borrowers who just miss out on the high-street, these new products allow for first-time buyers, home movers and remortgagers in eligible key worker professions to borrow up to five and a half times their income. The key worker product range has options at 75% and 85% LTV, and maximum loan sizes available of £1m up to 75% LTV and £750,000 up to 85%. The lender is offering two-year fixed rates starting at 7.69% up to 75% LTV and 8.09% up to 85% LTV. Five-year fixed rates start at 7.04% up to 75% LTV and 7.39% at 85% LTV.

Newcastle Building Society has announced that it has seen continued growth through the first half of 2023, having offered “consistently good value for savers and borrowers”. The society raised the rates on saving products following the increases in the bank base rate. As of the end of May 2023, its average savings book rate of 2.49% was higher than the market value of 1.87%, equating to £11m more in interest for its savers over the same period. The building society also set its standard variable rate (SVR) for mortgages at 5.19% at the end of June, against a market average of 7.63%. This saved members almost £336,000 in interest payments for the month alone. This helped the society attract net core residential lending of £408m, compared to £181m in H1 2022. Overall, Newcastle Building Society made a pre-tax profit of £16.2m in H1 2023, compared to £14.2m in the same period last year.

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