Welcome to this week's Mortgage Update. Be sure to have a look through as there is sure to be some information pertinent to you. Included in this week's update: In advance of new BTL underwriting standards established by the PRA, Clydesdale Bank, Leeds and Barclays are able to share with you their new approaches to portfolio [...]
Lending policy and new business enquiries: 0800 085 2846 General enquiries: 0800 678 3066 Lines open Monday - Friday 9am to 5:30pm New Residential Products - 2 year fixed to 60% LTV with a rate of 1.24% and an arrangement fee of £999 (loans £80k-£499,999) or £1,499 (loans £500k-£1m) - 5 year fixed to 60% [...]
At Magellan, we understand that life is complicated. It’s natural to try and simplify borrower circumstances, to tidy everything up with restrictive credit scoring – but reality just doesn’t work like that. There’s more to every situation than ticks in boxes and that’s why we guarantee 100% manual underwriting on every single case. No credit [...]
We are pleased to announce the launch of our new Product Transfer Portal. Our online system has been designed to improve the process of submitting, managing and amending your clients’ Product Transfer requests*. The system lets you: Create new product transfer requests Track the status of existing transfer requests Upload confidential client documentation Send [...]
How they can help New Custom Build mortgages available exclusively through BuildLoan. Shared Ownership mortgages coming to you soon. As part of our ambition to make everyone better off, Virgin Money will donate £100 to Crisis, the national charity for homeless people, for every Custom Build and Shared Ownership mortgage completion. Their partners BuildLoan, [...]
Payslip deductions Please see our Payslip guide for all the information you need to know on payslip deductions Important! In Introducer Internet, please confirm any discretionary payslip deductions your client would be prepared to cancel in the future if they were to experience financial difficulties Discretionary deductions Includes additional voluntary pension contributions, private healthcare and [...]
On 30 September, the Prudential Regulation Authority is implementing new regulations for portfolio buy to let lending. A portfolio landlord is one with four or more mortgaged rental properties. We're changing our criteria to give portfolio landlords more options and greater flexibility, and we're making the application process smoother for intermediaries. These changes will apply to all new [...]
Key highlights 1.80% 5 year fixed until 01/12/2022 1.94% 5 year fixed until 01/12/2022 2.05% 5 year fixed until 01/12/2022 • 75% LTV • £800 fee (£0 upfront) • Purchase & remortgage • 75% LTV • £0 fee • Purchase & remortgage • 80% LTV • £0 fee • Purchase [...]
We’re delighted to announce our lowest ever fixed rate deal will be available at 9am on Tuesday 19 September. At 0.99% this is the lowest ever 80% LTV product in the market! The 2 year fixed rate deal comes with a £1,495 fee and a free valuation. It’s available to both house purchase and remortgage [...]
Here’s a quick overview of the changes affecting landlords with 4 mortgaged rental properties or more. From 19 September 2017, Barclays will tweak its rules for lending to portfolio landlords. Prudential Regulation Authority changes From 1 January 2017: Mandatory affordability testing – including an interest-rate stress test By 30 September 2017: Lenders need to [...]
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The Right Mortgage & Protection Network Limited is authorised and regulated by the Financial Conduct Authority. Registered Office: 70 St. Johns Close, Knowle, Solihull, England, B93 0NH. Registered in England and Wales. Registered Number: 08130498. FCA Number: 649443.
