Top Stories of the Week: Trump's tariffs raise the Bank of England's four bank rate cuts outlook in 2025, with high rates, marketing and advice quality being one of the focuses of FCA brokers. Explore these developments and more below.
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Trump's tariffs raise the Bank of England's four banks' cuts in interest rates in 2025 
The market expects the Bank of England to cut interest rates until four times this year amid concerns over the world trade war, following the US president's announcement of tariffs in multiple countries.
The stock market responded sharply, with the FTSE 100 falling, and analysts warned of economic disruption. Money Market is currently forecasting an 80 basis point reduction in bank fees, with traders betting on a 4.75% to 4.50% reduction this week.
Economic data remains weak, with growth and inflation slowing beyond targets, strengthening forecasts from Goldman Sachs and Deutsche Bank, and multiple interest rate cuts likely to be possible.
BOE Rate Response: Warning Signs Lead to Cut
The Bank of England's Monetary Policy Committee voted to cut 7-2 votes by 0.25% and 4.5% amid signs of economic debilitation. Domestic inflation pressures have eased, but inflation is projected to rise to 3.7% next year, with growth expectations being downgraded.
Analysts have predicted further interest rate cuts, with the market being priced three times this year. The move is expected to support the housing market and provide relief to mortgage holders, but lenders have already begun adjusting fees in anticipation of the decision.
High rates, marketing and advice quality during FCA Broker Focus
Financial Conduct Authorities will focus on the quality of pressure sales, excessive fees and advice to underscore the need to monitor mortgage brokers over the next two years and embed consumer obligation guidelines.
Regulators highlight concerns about affordable valuations, the suitability of secured loans, and conflicts of interest that promote a culture of high-pressure sales. Encourage businesses to review incentive schemes, ensure fair fees and present balanced financial promotions.
It also warns dormantly appointed representatives who exploit the regulatory situation. The FCA will continue to review market practices with a special focus on improving customer vulnerability management.
MAB aims to double its market share, and Maru moves to FTSE
The Mortgage Advice Bureau aims to double its market share and revenue while considering a transition from the alternative investment market to the FTSE-250. The company hopes that the shift will attract a wider range of investors and raise their profiles.
MAB will outline the new capital allocation criteria ahead of Capital Market Day, and hopes to maintain or increase dividends. CEO Peter Brodnicki highlighted the company's decade-long growth and its commitment to a significant expansion of shareholders and stakeholders over the next few years.
The tenant rights bill moves to the entire house stage
The tenant rights bill is moving forward in Congress, with Stephen Baronet Taylor affirming his commitment to a House-wide committee for further scrutiny.
Introduced within the first 100 days of the new labor government, the bill would ban section 21 non-disabled evictions, limit rent increases once a year, and provide private rental standards for the first time We are proposing important reforms, such as extending them to the sector. .
Rob Jupp shares the confusion of losing his first business
Rob Jupp, CEO of Brightstar Group, opened up about his first business collapse during the 2008 credit crisis, fearing that he will not be able to pay his mortgage or tuition fees for his son.
Talking about the two Russells podcasts, Jupp recalls how his subprime lender Ofm group grew to 150 staff before losing 92% in a month, selling to Savills PLC £100,000 It was forced below. . He looked back at his spiritual sacrifice, regretted bottled his worries, and regretted how he used Home Equity to rebuild with Brightstar.
Major rate reductions in Halifax and Barclays and repricing in Leeds
Halifax is reducing up to 30 basis points in product transfers, and while it's making even more progress tomorrow, it's also increasing some rimalt rates. Barclays has reduced fees of up to 25bps on a variety of home transactions, including a two-year, fixed 85% LTV mortgage, which is now 4.79%.
Leeds Building Society is reducing the selected home fixed rate at up to 15bps and introducing new first-time buyer products, but increasing the fees for buys, shared ownership and other specialized lending. Some Leeds fees have also been withdrawn, and the current range is available until midnight.
Peers call on the FCA to draw a “name and shame” plan
A House committee urged financial conduct officials to abandon the “name and shame” plans that companies were publicly identified during the investigation.
The committee criticized the FCA consultation process as a failure, claiming that WatchDog did not justify a deviation from current policy of only naming companies in exceptional cases.
Concerns include potential damage to the reputation of the company and market instability. Peers warn of the contradiction that the government aims to promote competition in the financial sector. The FCA says it will review the report before deciding on the next step.
Santander extends ERC new product exemption to 9 months
Santander has extended its waiver of early repayment claims for existing residential movers from the last six months' limit to nine months. The exemption applies when a customer borrows more than the same amount and covers the fees completely. If they are less, it only applies to the new loan amount.
This change will affect both the home and the buyer's borrower. Mortgage applications submitted by 10pm on February 2nd will not be affected, but homes submitted from 6am on February 3rd will follow the new policy. Important changes to the application after this date will also be evaluated under new conditions.
Banco Santander chair says that British banks are “not for sale”
Anabochin, global head of Banco Santander, rejected reports that the bank is considering selling its UK operations, saying “the UK is not on sale.” This follows speculation that Spanish lenders may be exploring strategic options, such as escape from the UK, due to their dissatisfaction with ring fencing regulations since 2008.
Botin emphasized that the UK remains a core market, contributing to bank diversification and profitability. With serving 14 million customers and having a mortgage book worth £170 billion, Santander UK will continue to be an important part of the bank's strategy.
