Market Harborough Building Society has reduced its residential and buy-to-let fixed rates by 0.20%, across its range of two, three and five-year products. The bridging finance lender has also expanded its short-term range with products now available up to £5m, and its maximum loan to value (LTV) extended to 70%.

April Mortgages has launched a new, improved procurement fee structure which has been devised in response to broker feedback. The new payment structure will include an initial procurement fee of 45 basis points (bps) at completion, plus an additional 30bps on every fifth anniversary of the mortgage, for the remainder of the fixed term. As a result, brokers will receive an initial proc fee plus one additional 30bps payment for a 10-year fix, or two additional 30bps payments for a 15-year fix.

Yorkshire Building Society has increased the maximum amount it will lend to buyers of new build properties, from 85% to 90% LTV, and enhanced its affordability assessment to help those who need to borrow more. People now with a minimum household income of £50,000 – previously was £60,000 – will be able to borrow up to five times their income with a minimum deposit of 10%, including those buying new build properties.

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