First-time buyer applications rose by 23.1% in 2024, despite overall mortgage activity remaining stable.

The new product allows borrowing up to 80% LTV, with a maximum of 75% on interest-only and 5% on capital and interest.

The new product is open to buyers with household incomes over £25,000 and offers up to £350,000 in borrowing.

It still takes over five months on average to complete a home sale in the UK.

21% of small business owners have considered changing jobs to earn more in order to secure a mortgage.

The lender has cut its two-year fixed mortgage rates by up to 0.24%.

23% of mortgage holders are making overpayments to reduce their mortgage term

Homeowners who roll onto a standard variable rate could pay £6,750 more over two years.

The latest cuts follow a similar move by the bank in mid-April when rates were reduced by up to 0.20%.

1 in 3 UK mortgage holders are reliant on risky, short-term strategies when faced with lost income, according to a new study.