New Fixed Rates Product code(s) FE073 and RFE039 – enhanced criteria applies, no status “2” (two consecutive missed payments) on credit file within last 12 months, no defaults at anytime Product End Date(s) With respect to our exclusive discounted products, the end dates have been moved from 31 October 2019 to 30 November 2019 – [...]

In line with the new rules, we will now require the following documents from Portfolio Landlords for all mortgage applications: Business Plan Assets and Liabilities statement Cash flow statement Template documents have been created to simplify the submission process, and are available to download now from our website. It’s also important to know that any [...]

Please be advised that we will be making further changes to our mortgage range. Below is a summary of those changes; Product 11153 2 Year fixed 75% LTV to increase from 1.55% to 1.70% Product 11155 5 year fixed 75% LTV to increase from 2.05% to 2.15% Product 11250 2 year fixed 90% LTV to [...]

From Friday 29th September The Nottingham announces new portfolio landlord requirements. Where the total number of mortgaged properties at the application level, including the property to be mortgaged, is four or more, the application is considered to be a Portfolio Landlord application. For Portfolio Landlords, a fully completed Assets and Liabilities form must be provided [...]

Selected 2 year fixed rate increases From tomorrow, Thursday 28 September, we're increasing selected 2 year fixed rates, including Equity Share products. Please note, rates for existing Nationwide mortgage members switching products will not be impacted by these changes. 2 year fixed rate increases 2 year fixed rates across 60% and 75% LTV tiers increased by [...]

Your customers might want a second residential property as a holiday home, pied-a-terre, or for a dependant relative. Virgin Moneys affordability assessment on second residential properties considers the monthly expenditure and that the customer is able to afford all credit commitments including any mortgages. For more information speak to your dedicated BDM. 10 reasons to [...]

Are you missing Magellan for Intermediaries residential products when sourcing? Our strong specialist products, including a fees assisted range and transparent SLA's are just a number of reasons to think about using Magellan when placing your next mortgage. You also have a dedicated contact for support in managing the cases through. When souring, don't forget [...]

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: • Together Money case study: Right to buy a property valued at £170,000 and the purchase price £66,100, so we do not require [...]