Ryan Bembridge

He added that ring fencing rules, separating lenders’ investment arms from their banking activities, has intensified pressure on the mortgage market.

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Speaking at the society’s annual conference, Fieth also said climate change should factor into lenders’ risk assessments.

He warned building societies to take stock of the complicated nature of equity release products.

Rents rose by 1.7% in the year to April 2018, leaving rents averaging at £581.

Each of Mint’s eight mandated underwriters will now receive enquiries and provide terms, underwrite the application when it arrives, and then oversee it all the way through to drawdown of funds.

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Building societies achieved net lending of £4.9bn, up from £4.3bn in the first quarter last year.

The society has three 95% LTV mortgage products in its shared ownership range, a 5-year fixed rate product at 3.99%, a 2-year fixed-rate product at 3.59% and a 2-year discount product at 3.49%.

The Which? Financial Services operation sent out a note to its key partners today, which has been seen by Mortgage Introducer.

Users of MortgageApply will now be able to submit mortgage decision-in-principle applications to Kensington via API, without the need to re-key data onto the Kensington portal.

Half (51%) of intermediaries call lenders four times or more per application and half of those calls (51%) are to obtain case updates.