OSB Group has launched a new range of bridging products through Precise Mortgages & Interbay to support brokers with their clients’ requirements for short term lending solutions.

Key highlights across the range include:
• Rates starting at 0.47% for both regulated and non-regulated products through Precise Mortgages and InterBay;
• LTVs up to 75%;
• A new developer exit range up to 75% LTV through InterBay;
• Conversions of houses into flats through Precise Mortgages & InterBay;
• Conversions of commercial units into flats through InterBay;
• Works that require planning permission available through Precise Mortgages and InterBay;
• Expanded solicitor panel including dual legal representation through InterBay.

Newcastle Intermediaries has launched a new range of three and five-year fixed rate 95% LTV products in response to homebuyers’ evolving needs for greater choice and flexibility. The new range includes a three-year fixed rate at 3.06% (3.8% APRC) with early repayment charges of 3% until 31 August 2023, 2% until 31 August 2024 and 1% until 31 August 2025. For borrowers wanting to fix for a longer period, a five-year fixed rate at 3.09% (3.7% APRC) is also available with an early repayment charge of 5% until 31 August 2023, 4% until 31 August 2024, 3% until 31 August 2025, 2% until 31 August 2026 and 1% until 31 August 2027. Overpayment of 10% each year is permitted to offer clients greater flexibility and both products come with £500 cashback and offer free standard valuation up to £500,000.

The Conveyancing Association (CA) has announced Landmark Information Group as a new affiliate member. Landmark Information Group is the UK’s largest source of land and property data and is on a mission to use data and technology to transform the property transaction process, making it simpler, faster and more certain for everyone involved.

The Mortgage Lender (TML) has hired Chris Kirby as head of specialist distribution and key accounts. Kirby joins TML after over four years at Kensington Mortgages. He has worked in the mortgage industry for over 10 years, with the last six of those being in the specialist lending space. Having started his career at the Coventry Building Society, he then became business development manager at Fleet Mortgages before moving to Kensington, first as an account development manager, before being promoted to key account manager.

Shawbrook has announced a reduction in rates across its second charge mortgage offering. This change applies to products with an 85% loan to value (LTV), with rates now starting from 6.00% on loans from £5,000 up to £150,000. The updated rates apply to variable, two year fixed and five year fixed mortgages. Previously, customers could have expected rates of 6.45%, 6.80% and 6.85% respectively. Customers can now expect rates of 6.00, 6.25% and 6.30%. Shawbrook will also bring a limited-edition five year fixed large loan to market. For loans over £100k, customers can expect a rate of 4.55%, up to 75% LTV. Rates on second charge mortgages, up to 75% LTV, remain the same.

Investec has increased the interest rate on its Fixed Rate Saver account from 1.60% to 1.80% AER.The Fixed Rate Saver provides simplicity and security for savers and pays an attractive rate of return over a one-year fixed term. It now pays an interest rate of 1.80% AER on balances of between £5,000-£250,000, with automatic repayment to a linked current account. Interest is paid at the end of the term. No withdrawals are permitted until the end of the one-year period, and no further deposits can be made after the first seven days.

Scroll Finance, a next generation fintech providing smart financing solutions to homeowners, has launched its home equity loan and home equity line of credit (HELOC) products, powered by Mambu’s cloud banking platform. Scroll enables UK homeowners to unlock equity in their homes for use cases including home improvement, “green” upgrades, buying a holiday home, debt consolidation and deposit for property purchases. Founded by engineers in 2021, Scroll aims to bring the flexibility, speed and convenience of an unsecured lending application experience to homeowner financing. Its solution aims to process applications from initial enquiry to completion in just a few days, compared to the six or seven weeks of traditional home financing options. Customers can borrow between £25,000 and £1m at competitive rates, up to an 80% loan to value ratio, and Scroll has already completed its first loan.

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