Here is our regular summary of the key changes and announcements in the mortgage market for this week.

• Newcastle Building Society has launched reduced rates on its mortgage range. At 80% LTV there has been a concerted effort to be towards the lower end of the rates. At 2.05% fixed for 2 years, the rate is not the lowest but with no arrangement/booking fees, free survey and £200 cashback, this rate will look competitive on overall cost.
• Barclays has announced improvements to its mortgage lending policy across both BTL and residential mortgages. For residential mortgages, the bank will now take into account bonuses when assessing affordability. Previously, this was only factored if minimum income was £75,000. Also, the bank has automatically allowed for a pension deduction, so there is no longer a requirement to disclose the actual amount. This should help borrowers who opt to pay higher pension contributions. With the mortgage market still competitive, from a rate setting perspective, there is a need for lenders to “tweak” policy to make a difference and Barclays’ changes have done this.
• HSBC is another lender that has made reductions to its mortgage rates and some of these are in the much-needed higher LTV ranges. The highlight of the reductions is at 85% LTV, which is now 1.34% for clients with a 15% deposit. As a lender who is always at the top end of the market, this is another example of HSBCs commitment to keep rates low.

If you would like a mortgage quote or further information call us on 0333 444 1007 and we will refer you to one of our trusted partners.