First was a research paper from the Bank of England that assessed the impact of intermediaries on the mortgage market.
The paper found that mortgage brokers encouraged customers to take short-term fixed rates, exposing borrowers to shifts in pricing and the base rate. It also concluded that brokers helped to make more consumers aware of smaller lenders and enabled them to diversify.
Next were amendments made to the soon-to-be-debated Renters’ Rights Bill. The bill, which aims to protect tenants and improve the private rental sector (PRS), will return to Parliament for the report stage on 14 January.
This week, amendments were tabled to restrict rent in advance payments to one month and proposals to make rent more affordable.
A review into the effectiveness of the Lifetime ISA (LISA) was launched by the Treasury Committee to see if they are still fit for purpose.
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This comes after research published last year suggested potential homebuyers with a LISA would be unable to purchase in 54 regions by 2029.
Also this week came research from Atom Bank that showed that consumers had little understanding of the benefits of Energy Performance Certificates (EPCs) or the savings that could be made from improving the rating.
Then came research from Boon Brokers, hinting that Consumer Duty did not have a major impact on broker fees as the average stayed at £500 before and after the rules came in.
Vida brought out a unique 97% loan-to-value (LTV) mortgage this week to help long-time renters and first-time buyers onto the property ladder.
Loan terms of up to 45 years are available and the product is open to those with adverse or complex credit.
Landlords could face one-month limit on advance rent in Renters’ Rights Bill amendment
Treasury Committee launches probe into whether Lifetime ISAs are fit for purpose
Almost half of homeowners unaware of EPC ratings despite potential savings
Average mortgage broker fee unchanged since Consumer Duty, survey finds
Vida boosts proc fee and adds 97% LTV deals; Bluestone slashes rates – round-up
