Mortgage Strategy’s Top 10 Stories: 17 August to 21 August – Mortgage Strategy
This week’s top headlines: HSBC and Gen H cut rates and Nationwide launches free credit score tool.
Explore these and other major industry updates below:
BetterHome Group agrees to acquire Mortgage Support Services
BetterHome Group has agreed to acquire Mortgage Support Services, the parent of Stonebridge Mortgage Solutions and several mortgage, protection and technology businesses, subject to FCA approval.
Both MSS and Stonebridge will continue operating separately, while BetterHome says the deal will support their next phase of growth and may create opportunities for closer collaboration with HLPartnership.
HSBC is cutting rates across a wide range of residential and buy-to-let products, while Gen H has reduced rates by 15 basis points on its 90% and 95% LTV ranges to support higher-LTV borrowers.
Virgin is also making selected cuts and increases, as lenders including Nationwide, Santander and Nottingham Building Society continue to reprice amid ongoing market volatility.
Nationwide cuts rates by up to 0.15% with lowest now at 4.48%
Nationwide is cutting rates by up to 0.15 percentage points across its two-, three- and five-year fixed mortgage range from 18 August, with its lowest rate falling to 4.48%.
The reductions cover first-time buyers, home movers and remortgaging customers, with the lender saying the changes continue its efforts to support borrowers with smaller deposits and bring more competitive rates to the market.
Steepest August drop in asking prices for 8 years: Rightmove
Average asking prices for newly listed homes fell by 2% in August, the biggest decline for the month in eight years, as sellers responded to a quieter summer market and a 12-year high in the number of homes available for sale.
Rightmove said the national figures masked a widening regional divide, with prices rising in northern England but falling across the south, particularly in London, while it downgraded its 2026 house price forecast to between flat growth and a 2% decline amid uncertainty over mortgage rates, geopolitics and the Autumn Budget.
Nationwide launches free credit score tool
Nationwide Building Society has launched a free credit score tool through its app and online banking, allowing customers to view their score, understand the factors affecting it and see how it may influence financial decisions.
The lender said it plans to add further educational content to help customers improve their financial management and borrowing decisions, following FCA research showing that many people lack confidence in understanding their credit reports and scores.
Santander and Nottingham BS become latest lenders to trim prices
Santander is cutting most residential and buy-to-let fixed rates across its new business and product transfer ranges, with residential rates falling by up to 0.13% and BTL rates by up to 0.10%.
Nottingham Building Society is also reducing rates by up to 0.15%, while Foundation is withdrawing most residential products ahead of a replacement range, Kent Reliance is introducing personalised product transfer rates and Precise has launched a new tailored product transfer process.
Time to sell a home increases across half of UK: Zoopla
The average time to sell a property has remained unchanged at 42 days over the past year, but Zoopla found that sales are taking longer in half of UK local authorities as higher mortgage costs weigh on buyers.
There is a widening regional divide, with Melton the slowest market at 76 days, while Scotland dominates the fastest-selling areas, led by Falkirk at just 11 days.
Mortgage myths hindering first-time buyers: Lloyds
Many aspiring first-time buyers are ruling themselves out of the mortgage market because of misconceptions, with 58% believing existing debt would automatically prevent approval and 37% thinking a 20% deposit is essential, according to Lloyds research.
Other common concerns include using an overdraft, receiving benefits, being self-employed or not having a perfect credit score, with the lender urging prospective buyers not to be deterred without seeking advice on their individual circumstances.
First 1,000 customers sign mortgage deeds using QES
The first 1,000 customers have signed mortgage deeds using qualified electronic signatures through Veyco’s Remortgage iQ platform, completing the registration and signing process in an average of just two minutes and 43 seconds.
The digital process, introduced as part of Nationwide’s remortgage workflow, removes the need for customers to print, witness and post paper deeds, supporting the wider adoption of digital conveyancing.
Sales via modern auctions rise by 15%: Lomond
Home sales through modern method auctions increased by 14.5% over the past year, while completed sales rose by 9.4%, according to Lomond, as longer online bidding periods allow buyers more time to arrange mortgage finance.
The agency says MMoA transactions take around 43% less time than other sales across its network, with particularly strong growth in Yorkshire and Manchester.
