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Those rolling off older mortgage deals could see monthly repayments jump by around £866.

The Funding 365 management team will remain with the business and continue to lead day-to-day operations.

An extended hold to interest rates is "very much the correct and appropriately measured policy response", Taylor said.

The pair will join Lloyd Whiting within Assetz’s existing new business team.

The products provide existing customers with additional options to review their borrowing and raise funds against their portfolios.

73% of aspiring homeowners feel ‘locked out’ of the property ladder, with nearly half saying high rents are preventing them from saving.

Alongside the appointment, Richard Cunningham has been promoted from telephone BDM to field-based BDM.

The guidance helps firms apply the FCA's updated rules and guidance on non-financial misconduct. 

A 0.40% reduction will now apply to loans of £1m-£3m.

The new product will replace the Lifetime ISA.