This week’s headlines: Landlords face £7,000 fines for missing document deadline and RAW founder Parkes steps down as CEO.
Check out these and other industry updates below:
Landlords face £7,000 fines for missing document deadline this week
Landlords are being warned they could face fines of up to £7,000 if they fail to provide tenants with the government’s Renters’ Rights Act information sheet by 31 May.
The legislation introduces major changes to the private rented sector, including an end to Section 21 evictions and tougher rules on rent increases and tenant protections, with more changes to come later this year.
RAW founder Parkes is stepping down as CEO
RAW Capital Partners founder Tim Parkes has stepped down as chief executive, with managing director Ben Nichols taking on the role as the specialist lender looks to continue its growth.
Parkes will continue to play a role as a senior adviser and chairman of the board of RAW Mortgage Fund after helping to build the business into a lender with assets in excess of £200m.
Mortgage Works adds 2-year trackers and lowers BTL fixed rates
Mortgage Works is introducing new two-year buy-to-let tracker products while reducing selected fixed rates by up to 0.15% across its range for new and existing customers.
The lender says the changes are designed to give homeowners greater flexibility and support amid ongoing cost pressures, with all tracker deals including the option to switch to a fixed rate with no early payment fees.
Retailer activity jumps in Q1 on impact of Iran war: Imla
Mortgage brokers experienced a sharp increase in activity in the first quarter of 2026, with increased demand for mortgages and purchases fueled largely by market volatility linked to the Iran conflict and rising exchange rates.
Despite weak lending figures and soft confidence in the mortgage market, brokers remain optimistic about their businesses as they help borrowers navigate uncertain times.
Omni Protect hires Butler as head of security development
Omni Protect has appointed defense industry veteran Dave Butler as its new head of defense development, bringing more than 25 years of experience at firms including L&G, AIG, Zurich and Vitality.
In the newly created role, Butler will help grow and develop the company’s security proposition as it continues to grow following its launch earlier this year.
ModaMortgages expands BTL range with new 2-year limited fix
ModaMortgages has expanded its buy-to-let offering by introducing a new limited range of two-year fixed rate products, with rates starting from 3.54% for single properties and 3.64% for HMOs and multi-unit blocks.
The lender says the move is designed to give homeowners more flexibility around their existing five-year fixes, with products available for up to 80% of the loan amount and a number of payment options.
Rental income is stable and 84% of landlords are profitable: Pegasus
The average rental yield remained stable at 6.5% in Q1 2026, and 84% of landlords are still reporting a profit, according to Pegasus Insight.
Although returns vary by region and property type, particularly favoring HMOs and landlords in the North West, the data suggests that the private rented sector remains broadly stable, supported by strong tenant demand and long-term tenancies.
A section of FTBs that I didn’t know could lend up to £40k more: MAB
Half of first-time buyers are unaware that their borrowing capacity may have improved in recent months, while some could access up to £40,000 more than last year, according to research by the Mortgage Advice Bureau.
The findings suggest that many employers still rely on outdated assumptions about deposits and affordability, despite greater flexibility in borrowing and the availability of low deposit loan options.
Coventry, Hanley and Keystone made rate cuts
Coventry for Intermediaries has reduced rates for residential and commercial property by up to 16bps, including first-time buyer deals on returns, while Hanley and Keystone have also reduced prices across residential and professional properties in response to improving market conditions and low volatility.
At the same time, InterBay is withdrawing its trade-in and buy-to-let products ahead of the new launch of the simplified range.
Overall, lenders are repricing and reshaping product availability rather than moving in one direction.
The housing committee says the lease changes must go forward
A cross-party committee has urged the government to strengthen the Commonhold and Leasehold Reform Bill, warning that existing proposals do not go far enough to protect landlords.
Members of Parliament have called for stricter restrictions on land leases, tighter controls on service charges, and the creation of an independent regulator of property management agents.
They also pressed for a faster timeline for changes, arguing that many landlords are still locked into buildings facing rising costs and limited regulation.
