Broadstone has opened a new office in Birmingham city centre, as it looks to deepen its presence in the Midlands. The independent pensions, employee benefits, investments and insurance consultancy said that the office opening is in response to increasing demand for its services, with it being staffed by a team of actuarial investment experts. The Birmingham branch, which is located in the Mailbox building, will be the firm’s second office in the Midlands and its ninth in the UK, joining the largest UK regional business, finance and professional services cluster with 45,000 companies and a workforce of 330,000 professionals.

Residential by Foundation has announced the reduction of several rates across its product range by up to 30 bps. The lender has made cuts to its F1 two- and five-year fixed rate products for key workers, with rates starting from 6.09% with a £595 fee, one free standard valuation and no application fee. The lender is also offering higher income multiples to a range of key worker borrowers. The residential brand of Foundation Home Loans has also cut pricing across a number of its other fixed-rate residential products including Green ABC+ products by 10 bps, with rates starting from 6.34% up to 85% LTV, with a £595 fee and one free standard valuation. Furthermore, the lender has also cut rates on its F1 and F2 joint borrower sole proprietor products, with pricing now starting from 6.24% with a £795 fee.

Adam Oldfield has been promoted to the role of managing director at Phoebus, as Paul Hunt becomes vice chair of the board of directors. Oldfield joined Phoebus five years ago as head of sales and account management. He was then promoted to chief revenue officer, a role which he held for 18 months. Oldfield brings over 20 years of mortgage industry experience to the role, and in this time, has worked to build on the growth and direction of Phoebus. Hunt has started his new role after 20 years at the firm, over 10 of which he spent as chief executive officer. During his tenure, he has overseen Phoebus' expansion, with the firm now boasting 140 staff and more than £110bn assets under management, while providing servicing software to more than 25 banks, building societies, savings institutions and third-party service providers.

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