We are making some amendments to our product range which include an increase to our standard variable rate and reversion rate. These changes will go live from the 1st September 2018 SVR Our current SVR is 5.89% which will increase by 0.25% to 6.14%. This change will impact our entire product range. Reversion rate Our [...]
On Monday 3 September our minimum new business procuration fee will reduce from £400 to £250. Additionally, we’re removing the minimum £25,000 threshold that triggers the minimum procuration fee. This means that decisions to lend (including reassessments as a result of a material change) from Monday 3 September, that then subsequently complete, will have a [...]
On the 20th August, we are making changes to the way we capture childcare costs, in order to accurately take into account the customer’s monthly childcare expenses. What’s changing? We will now use the amount the customer has declared and will no longer use ONS data in our affordability calculations. Customers with dependants will be [...]
Watch our latest video to discover more about landlords' purchase strategies, including a closer look at reasons why some landlords are planning to purchase within a Limited Company structure. Watch the video here
We are pleased to announce that we have widened our criteria to now include Holiday Lets and Multi Units. These will be available on selected products within the BTL range. We are always looking for new ways to support you and hope that this will lead to you being able to provide options with Precise [...]
The Tipton & Coseley extends lending criteria to include retirement properties The Tipton & Coseley Building Society is extending its lending criteria for older borrowers, to include retirement properties in a continuation of its lifecycle lending strategy. The change is designed to complement its existing range of later life products, by allowing lending against [...]
Our common sense approach to lending means we can often help when others can’t. Like cases involving complicated income or employment, or those needing funding at short notice. Earlier this year we were challenged to help a customer remortgage. Having bought their rental property at short notice using a bridging loan, they’d subsequently switched from [...]
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: TSB make changes to residential mortgage products; Hinckley and Rugby announce product changes; NatWest make changes to how they capture childcare costs; Santander introduce [...]
Did you know that we offer mortgages up to £750,000 for your over 55 clients... Did you know our Older Borrower range offers mortgages up to £750,000 and we will take referrals beyond that too. It gives your clients who are in retirement or near to options for their mortgage on an interest only basis. [...]
Curious about the potential? Retirement Interest Only (RIO) mortgages are designed so borrowers can use the sale of their home as a repayment strategy to repay their mortgage balance when they die or move into long-term care. Unlike a Lifetime Equity Release mortgage, the interest doesn’t roll up on a RIO mortgage, meaning that [...]
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