Royal London has confirmed it is looking for a new chairman after Kevin Parry informed the group’s board of his intention to step down after six years. Current deputy chair, Lynne Peacock, will take on his responsibilities as interim chair with immediate effect. One of her first actions will be to initiate Royal London’s search for a new chair with the full support of the board.

The Mortgage Works has announced that it will now accept intercompany loans as a deposit option for buy-to-let mortgage applications from limited company landlords. The lender said it has made the change in response to feedback from the broker community and aims to make financing more accessible for limited company landlords by expanding their deposit options.

Foundation Home Loans has launched a new limited-edition remortgage only fixed rate offering. The new products are available up to 80% LTV at 5.84% for a two-year fix and 5.64% for a five-year fix. Each product comes with a reduced £595 product fee plus £350 cashback upon completion, in addition to a free standard valuation and no application fee.

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