Following the decision by the Monetary Policy Committee on 16 December 2021 to increase the Bank of England Base Rate to 0.25%, we’re making some changes. On 6 January 2022, we will increase our Standard Variable Rate to 4.49% and our Buy to Let Variable Rate to 4.69%. What happens with existing customers Customers [...]
We recently discovered that while our RL1 product allowed some missed payments, or unsecured credit events in the profile, 55% of our applicants on that product didn’t have any at all. These findings are in addition to our research that we conducted earlier in the year finding that the impact of the pandemic on earnings [...]
In line with the Bank Base Rate increase on 16th December, the Society's Mortgage Variable Rate will increase by 0.15% for new customers on Thursday 6th January. The MVR from this date will be 5.29%. The initial pay rate for any variable products currently linked to the MVR will therefore increase by 0.15% from [...]
Recent years have seen product transfers take on a much more significant role within the UK mortgage market. There are all sorts of different factors behind this, from lenders recognising the value of retaining existing customers to the welcome introduction of proc fees for brokers when dealing with product transfer cases. Some industry figures [...]
The question of whether to borrow through a limited company structure is one which all landlords have faced and continue to face. Considerations must be taken over the landlord’s number of properties, future plans, financial circumstances and exit strategies. Elements which also point to the importance of a good, professional mortgage advice process, as [...]
We want to let you know we're extending our First Renewal Guarantee offer and it's now available until 31 March 2022. The offer helps to create richer, sustainable policies and ultimately helps you build more lasting relationships with clients. As a reminder, our First Renewal Guarantee means if a customer doesn't [...]
Welcome to this week's Mortgage Update. Please take the time to read through the update as there may be some information that is important to you. Included in this week’s update: State Bank India Launches Green BTL Mortgage product range Virgin Money announces changes to their Tracker Mortgages Mansfield Mortgages options for older borrowers [...]
The Christmas break is almost upon us and people are busily completing those final deals before the festive holiday. Do you have a complex deal on your desk which you really need to complete? Crystal Specialist Finance recently helped a client find much needed auction finance in just 24 hours with their multi-award winning [...]
The end of the year promises to be an active one for the remortgage market. The exact number of mortgages reaching expiry in the next month or two varies depending on who you speak to, but what’s undoubtedly true is that there are an awful lot of borrowers speaking to their brokers about their [...]
We wanted to let you know that we’ve made some changes to the following Clydesdale Bank products. Selected residential 85% LTV 2 and 5 year fixed rates have been reduced by up to 0.11%. Residential 90% LTV 2 and 5 year fixed rates have been reduced by up to 0.30%. Residential 95% LTV 2 [...]
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