Consumer Duty Matters for Mortgage AI
The FCA says firms’ understanding of Consumer Duty expectations is improving, with 88% reporting that they understand what is expected when supporting consumers and embedding the Duty. At the same time, the regulator continues to stress consumer protection, clearer outcomes and reduced unnecessary reporting burdens. Mortgage firms adopting AI should interpret this as a prompt […]
Private Rental Rules Raise BTL Stakes
Government is consulting on extending Awaab’s Law to the private rented sector. If implemented, stricter repair deadlines would apply to far more landlords and tenants, increasing the importance of property-condition management alongside financing. The development sits against a changing buy-to-let product market, including new variable options from The Tipton starting at 5.29% for certain borrower […]
Conveyancing Delays Put Offers at Risk
Longer conveyancing timelines are creating a practical mortgage risk. Mortgage Strategy reports that buyers are waiting months to exchange, with 42% of recent homebuyers in one survey identifying conveyancing as the biggest cause of delay. Where a mortgage offer approaches expiry, borrowers can face renewed underwriting, revised affordability assessment or exposure to higher rates. This […]
AI Case Management Moves Into Lending
AI is moving closer to the mortgage workflow. Nivo has launched an AI-powered case-management service aimed at intermediated and specialist lenders, designed to coordinate information from broker enquiry through underwriting and completion. Meanwhile, New Leaf has renewed its technology partnership with Twenty7tec for a further three years, underlining continued investment in adviser-facing infrastructure. The opportunity […]
Swap Rates Reshape Mortgage Pricing
Mortgage pricing is becoming less predictable at product level. Generation Home is raising selected three- and five-year rates by up to 15 basis points as swap costs rise, while Moneyfacts reports the average two-year fixed rate edging up to 5.97%. This comes despite meaningful reductions elsewhere, including Yorkshire Building Society cuts of up to 0.50% […]