StrideUp has reduced rates on its two, five and 10-year fixed rate products by 80 bps. The 10-year fixed rates start from 5.49%, with both the two- and five-year fixed rates now start from 5.99%. The range is available up to 85% finance to value, requiring a minimum 15% deposit from the customer. StrideUp focuses on Muslims whose faith requires them to avoid paying or receiving interest. Through a home purchase plan product, StrideUp gives individuals a way to become homeowners without compromising on their values.

Mansfield Building Society has relaunched residential mortgage products linked to a lifetime discount follow-on rate that kicks in after the initial product term ends. The new rate, which is 1.74% below the society’s standard variable rate, means that after the initial product term ends, borrowers would currently pay 7.15% variable for the remainder of their mortgage. The new lifetime discount has been applied to its range of prime residential deals, including its family assist, shared ownership, retirement interest only and versatility products. The follow-on rate has no early repayment charges, meaning borrowers will still be able to remortgage to another lender or select one of the society’s loyalty deals and the end of the initial product term.

Chetwood Financial has appointed Julian Hynd as its new chief operating officer. Hynd brings over 30 years of experience in financial services to the role. Over the course of his career, he has worked for several brands including First Rand, Siemens Southern Africa, National Savings and Investments, and Ford Credit Europe, where he lend the development of UK online savings bank, Ford Money. Hynd also worked for Volkswagen Financial Services, where he led the development of their UK online savings bank, and joins Chetwood Financial from Shawbrook Bank, where he led its digital and operational transformation. As part of his new role, he will be responsible for Chetwood’s strategy in technology, operations and people, and will also help bring the firm’s ModaMortgages proposition to market later this year.

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