News in brief – 5 August 2022

Recognise Bank has appointed Jean Murphy as the digital bank’s new CEO. Murphy will take more than 25 years of experience of banking and capital markets for several leading global institutions. She has previously held senior roles at a number of international banks, including director of private banking at Morgan Stanley and executive director of Goldman Sachs Wealth Management Division. The appointment is subject to final approval by the Prudential Regulation Authority (PRA).

The financial services division of LSL Property Services has reported record mortgage lending volumes during the first half of 2022. The division, which includes intermediary brands PRIMIS Mortgage Network and TMA Club, reported a 6% increase in its H1 lending value from £19.3bn in 2021 to £20.5bn in 2022. It also reported a record H1 market share of 10.1% of new lending, a figure up from 9% in 2021.

The Financial Conduct Authority (FCA) has announced it going to open a new Leeds office in September. The regulator will be recruiting to fill more than 100 new roles based in Leeds. Opening in the city next month, the FCA has signed a deal for premises at 6 Queen Street in the heart of its business district. The FCA’s Digital Delivery Centre will be based in Leeds alongside other key FCA business teams.

Hampshire Trust Bank (HTB) has confirmed it is enhancing its specialist buy-to-let offering. This includes limited company, HMOs and semi-commercial, and the move will HTB increasing its maximum loan amount to £25m, up from £15m. This change has taken place with immediate effect.

Foundation Home Loans has announced the launch of a ‘Summer Special’ offering which sees a 40 basis point rate reduction on its previous five-year fixed rate limited edition buy-to-let product. Available for borrowers with an almost clean credit history, the lender’s five-year fix, offered up to 75% LTV, comes with a rate of 4.59% and an ICR of 125% at pay-rate for limited companies. The maximum loan available is £1m, and the product will be available for both limited company or individual landlord borrowers looking to either remortgage or purchase. 

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