Holiday payments We will work with every borrower during these difficult times to support them through their mortgage payments. We have a range of forbearance measures including interest only and payment holidays, which will be discussed on a case by case basis with each borrower. As always we urge brokers (and borrowers) to contact [...]
We have removed mortgages over 60 per cent loan to value from sale, with the exception of product transfers and further advances. Product transfers, further advances and direct to lender applications will continue as normal. The outbreak of Covid-19 has had a direct impact on our processing resources which has led to the withdrawal [...]
In these unprecedented times our priority must be to look after and protect our colleagues, as well as support customers and business partners. We have taken the steps necessary to relocate our colleagues and we are now operational from multiple sites, including the majority of staff now working from home, such that we can [...]
Following the announcement made by the Prime Minister on Monday night, we’ve spoken with our valuers, who’ve confirmed they have currently suspended all physical property inspections in line with the government guidelines. What you need to know We’ll progress all applications that have received a valuation in the usual manner, although the process may [...]
Following the Monetary Policy Committee’s decision to cut the rate to a historic low of 0.1%, all residential and buy to let tracker products have been removed from sale. Existing customers with a tracker mortgage will see a reduced rate as per their terms and conditions. We will continue to review our full product [...]
We have paused residential applications with immediate effect in response to the health crisis and the current state of the capital markets used for securitisation. We will continue to accept buy- to- let applications however, as the funding for these mortgages are not dependent on capital markets. We are also exploring further use of desktop [...]
We wrote to you earlier in the week explaining how we're working to reduce the impact of Covid-19 on our advisers and customers. As the situation changes, we wanted to share some more information, answering some of your questions. Keep an eye on our Covid-19 page for updates. Can I still get hold of you [...]
UK Finance has been seeking urgent clarification from the government about whether home purchases should continue at the current time, particularly as physical property valuations are no longer possible. The government has now stated that: Home buyers and renters should, as far as possible, delay moving to a new house while emergency measures are [...]
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: Kent Reliance release simple guidelines to support your customers; TSB make improvements to rate switch products; Precise Mortgages announce FAQs relating to processes [...]
The situation around COVID-19 is continually evolving and moving at pace and it is therefore with regret that we need to inform you that the underwriter of our Landlords Legal Expenses product, Arc Legal, have instructed that New Business will no longer be accepted from Tuesday 24th March. We have received no notice of [...]
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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.
