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The Society has reduced its SVR by 0.25%, which it says could open more doors for complex mortgage cases.

Rates have reduced by up to 0.20% across the range.

The average time between offer and draw-down has reduced from 57 days to 30 days.

The Society is launching new range of products for mortgage applicants who are foreign nationals.

Second charge rates are available from 6.69%.

Jelendorf has held previous roles at Boston Consulting Group, GoCompare and Moneybox.

Nationwide’s lowest rate is now 3.54% for new and existing customers looking to move home.

The proposals would also introduce a new FCA permission regime for firms wishing to act as principal. 

The criteria revamp is designed to make complex cases easier to place.

PEXA will work with the Lab to demonstrate its use case and technology at scale without the need for additional investment within the UK’s banking infrastructure.