MPowered Mortgages has expanded its prime residential offering with the launch of new seven and 10-year fixed rate mortgages. The seven-year fixed rate products will launch with rates starting from 3.29% up to 75% LTV, while rates for the 10-year fixed rate products will start from 3.34% up to 75% LTV. MPowered confirmed these come with free valuations, and different cashback and arrangement fee options. The lender has also introduced rolling end-dates across its entire residential offering of two, five, seven and 10-year fixed rate products, meaning homebuyers will benefit from fixed mortgage payments for the full fixed period.

Air Group has confirmed the appointment of Nicola Palmer as senior business development consultant. Palmer has worked in financial services for almost three decades, most recently as key account manager at Canada Life, and will take a wealth of experience gained in both business development and adviser roles. In her new role, Palmer will engage with potential and existing partner firms as well as advisers as they look at how they use the range of Air products including Air Club, Air Sourcing and Air Academy, to increase their business levels as well as income.

Allica Bank has now provided SMEs with over £100m in asset finance funding since its launch in 2021. The SME-focused challenger bank said there has been a significant increase in demand for finance from SMEs recently, with £78m being issued in 2022 alone. Allica Bank has now targeted doubling its £100m asset finance loan book by the end of the year. To help service the growing demand, the firm has increased its asset finance team by 50%, with new business development managers across the UK.

Twenty7Tec has announced that it has recorded its busiest week ever for mortgage searches on its platform. In the seven days to 6 July, the total number of mortgage searches handled by Twenty7Tec hit 378,210, the highest ever seven-day period for the firm. The week also included the single busiest day since Twenty7Tec’s records began, with Tuesday 5 July seeing 78,386 mortgage searches.

Legal & General Mortgage Club has announced the promotion of Sophie Holloman to key relationship manager. Holloman initially joined the mortgage club’s support services team, before progressing to the position of telephone relationship manager. In her new role, she will be responsible for developing relationships with several partners as well as recruiting new accounts, acting as an extension to clients’ teams. Having grown its relationship team from three to seven in February this year, the mortgage club is currently recruiting for an additional two telephone relationship managers, to fill its relationship’s position alongside another vacancy.

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