Affirmative
Pre-Equity Release Bridging
Equity release loan applications can be turned down when a property requires essential repairs. Short term bridging finance can offer a solution, with loans available from £10,000 upwards a property can be made equity release ready in a matter of months.
Even if essential repairs aren’t required, you may have a client who wants to complete works to the property simply to enhance its value and maximise the available equity release loan. Upgrading a kitchen? Replacing a bathroom? Adding an extension? Any added value could increase the funds released to your client for their long term plans.
So if the works are essential or simply desirable, we can offer first and second charge loans and could provide the finance needed to get your clients, and their properties, equity release ready.
Affirmative – Helping to get your property equity release ready.
Call our office on 08000 44 84 84 and let Affirmative assist your client in realising their equity release requirements.
Authorised and regulated by the Financial Conduct Authority. We are able to offer both regulated and unregulated loans.
BuildLoan
Do you have developer clients that need to extend their repayment deadline?
An exit bridging loan could give your property developer clients an additional 18 months in which to finish their development project and sell the properties. Even if they have refinanced once, we can find a solution that enables them to refinance again.
A development exit loan secured against the partially completed property or properties, can pay off existing finance. In addition the development exit bridging loan can help to protect the developer’s investment in the project by providing a source of funds in case of unforeseen delays or cost overruns.
At BuildLoan, we have access to a range of products with rates from 0.63% per month, no maximum loan size and quick completions.
Suffolk Building Society
Multiple currency cases now accepted (and not just on expat!)
Honestly, we can’t keep spoiling you like this.
So far this month we’ve introduced retention proc fees and JBSP. We’re now loosening our criteria purse strings and letting you drop in multiple currencies on resi, BTL and holiday let cases.
For resi and regulated BTL, applicants can receive income in any of 16 major currencies*.
For BTL and holiday let, we’ll take any currency (except from high-risk countries).
Some real-life examples:
- A semi-retired British businessman has pensions in both US Dollars and Sterling. He also has a non-exec role for which he earns a salary in South African Rand. His holiday let mortgage affordability calculations can now factor in all three incomes.
- A British expat is being paid in Australian Dollars, while her British husband has come back to the UK to work. Their joint application for an expat resi mortgage can now take into account both incomes.
- A first time buyer needs family assistance to purchase a flat. He is paid in Sterling whilst his mother earns Swiss Francs at a multinational company. He can add his mother to the mortgage to support affordability, whilst he is the only party named on the deeds (Joint Borrower Sole Proprietor).
Here’s one we made earlier…
Applicant one.
Lives in Dubai.
Is employed earning AED650,000 (£135,699).
This is £108,559 after a 20% haircut, so they are able to use the 5.49x income rule as a six figure earner.
Applicant two.
Lives in the UK with 2 children.
Is self employed £25,000 average figure from the last 2 years’ accounts.
Purchase price £850,000.
Deposit of £170,000 from sale of existing resi.
Loan £680,000.
80% LTV.
*Sterling, Euro, Swiss Franc, Norwegian Krone, US Dollar, Canadian Dollar, Singapore Dollar, Hong Kong Dollar, UAE Dirham, Kuwaiti Dinar, Qatari Riyal, Australian Dollar, New Zealand Dollar, Danish Krone, Swedish Krona and Saudi Riyal.
If you have any further questions then give our support squad a call on 0330 123 1073 or contact your BDM.
Barclays
Latest Barclays Property Insights available now – Right-Sizing
A new report from Barclays Property Insights, “Right-sizing Revolution: unlocking untapped capacity in the housing market”, finds that alongside building new homes, ‘right-sizing’ could be an important part of the solution to the UK’s complex housing crisis – if properly incentivised. Whilst the report acknowledges the steps being taken by government to solve supply issues through house-building, Barclays finds that extra capacity in the market could be released if under-occupiers were to right-size on a large scale, and recommends five policy changes which could enable this to happen.
The Barclays report notes that 85 per cent of owner-occupied homes in England and Wales contain one or more ‘spare’ bedrooms and are therefore ‘under-occupied’*. This constricts the availability of larger homes for families and younger buyers, causing a ripple effect throughout the housing market. Right-sizing – or moving to a home with fewer bedrooms – could ease some of this impact.
Fluent for Advisers
Welcome to Fluent
Offering an range of specialist prodcuts including Mortgages, Secured Loans, Bridging Finance, Equity Release and Insurance, don’t forget Fluent are always on hand. With a trustpilot score of 4.8 / 5 Fluent do everything they can to support broker all accross the UK and Northern Island. At Fluent you get;
- expert case managers that own your appliucation from start to finish
- professional guidence
- no upfront fees
- and fast and flexible financial solutions.
Watch their latest clip to find out more about their offering.
Legal & General
In this episode of Just Covered, Hazel and Wayne invite Legal & General Performance Manager, Barry Kellegher. Unlike many, Barry has a unique perspective on customer protection, having been on both sides of the fence. He talks honestly about how his personal health journey has transformed his outlook on life, death and critical illness cover. And most importantly, he opens-up on how he now views the value of his own work, including how it informs the advice he gives to other people. It’s a touching, thought-provoking insight.
This episode also covers:
- Life insurance and critical illness cover and the emotional relief they provide to customers and their families during otherwise challenging times.
- Helping clients prepare for the unthinkable and having difficult discussions, while still delivering exceptional and empathetic service.
- The importance of encouraging your customers to talk about their lifelong aspirations and goals, as well as their long-term wishes for family, as part of holistic financial advice.
Listen now | Episode 20| Seeing the world differently: Using life-altering events to bring advice to life (buzzsprout.com)
Watch – https://youtu.be/L3ZP6qGX4Is
Melton Building Society
You Said, We Did
Aria Finance
Give Second Chance a Second Thought
The team at Aria Finance, are on a mission to empower brokers to confidently identify and discuss second charge mortgage opportunities with their clients. While the funds raised can be used for almost anything (we’ve even seen cases where they’ve been used to fund a once in a lifetime trip and in another a divorce settlement!), here are some of the more common uses we see:
- Home improvements
- Debt consolidation
- Helping out a child for a property purchase or their wedding
- School or university fees
- Purchasing a holiday home or investment property
- Paying off a tax bill
How can Aria Finance with a Second Charge enquiry?
- Up to 95% LTV
- Lending Multiples that go beyond typical high street limits
- Clients in probation period considered
- Adverse credit considered
- Quicker, smoother timescales with AVM criteria
- Paperless application options (dependant on lender)
- Interest only borrowing available
Find out more about Second Charge Mortgages and how Aria can help here: https://www.ariafinance.co.uk/second-charge-mortgages
Hodge
Rebrands 50+ Mortgage range to Resi Retire
Hodge has rebranded its 50+ mortgage range to Resi Retire and removing the requirement for borrowers to be aged over 50 to access them. This change reflects Hodge’s commitment to making lending more inclusive and aligned with customer aspirations rather than age.
This rebrand follows the earlier launch of Hodge Resi, which expanded access to professional mortgage products for individuals aged 21 and over with complex income streams.
Emma Graham, business development director commented: “As always at Hodge, it’s key that we are constantly listening to and working closely with our intermediary partners to ensure we are developing products and making changes that really make a difference to the end customer.
“Our new Hodge Resi and Hodge Resi Retire products represent a big change for us here at Hodge. We have fundamentally repositioned our propositions to define our customers based on their goals and aspirations rather than their age, which is historically where the later life lending market has been. We have challenged ourselves and asked why products that cater for customers lending into their retirement stipulate a minimum age of 50.
“We are excited to see how the Resi Retire products will be welcomed by the market and are looking to chat brokers, IFAs and networks about how they can help customers get the outcomes they need from their mortgages.”
For more information on Hodge Resi and Resi Retire products, or to explore how they can help meet your mortgage needs, please get in touch with our team today.
The Mortgage Lender
Economic Update – October 2024
We’ve teamed up with 4most Economic Consultants to provide you with a monthly economic update. The update for October is now available to download.
The update covers:
- Inflation and interest rates
- Labour market
- Housing market
- Rental market
- Mortgage market activity
- Rate analysis
Teachers for Intermediaries
Help your clients jump into a new home
Ready to get your clients purchase moving? With a TFI short term mortgage their home purchase will be heading in the right direction
- Do market conditions mean it’s not the right time for your client to sell?
- #Have they found a dream property that they want to secure straight away?
- Do they need time to carry out remedial works to both a new and old home?
- Is it financially more prudent to leave investment funds untouched for the time being?
- Or can they simply not find a buyer prepared to pay their former home’s worth?
TFI short-term mortgage highlights:
- Lending terms of 1-5 years
- Interest only affordability
- 70% maximum LTV for interest only (evidence of a repayment plan required)
- No early repayment charges
- Interest only mortgage with monthly payments
- Income sources including pension and investment assets considered
- Underwriters who tick people, not boxes
Have you got a client case that’s ready to take off? Find out more from us and contact the TFI team today…
Visit their website or call o800378669.
Zurich
Breast cancer can happen to anybody; I was in my early 30s
As part of Breast Cancer Awareness Month, Sarah Morgan, people experience consultant at Zurich, speaks to Health & Protection about finding a lump she had never noticed before, why having private medical insurance (PMI) saved her life, the integral role her team and cancer specialist Reframe played in her recovery and the importance of women under the age of 40 checking their breasts regularly for changes.
Finding a lump
“I was diagnosed with breast cancer in July 2021, I did have a breast cancer scare the year before, so I think that made me more aware of the signs and symptoms to look out for.”
Morgan reveals that her awareness of cancer had heightened as just a couple of months earlier her brother-in-law had been diagnosed with an incurable brain tumour.
“I found a lump on the edge of my right nipple that I hadn’t noticed before,” she continues.
“That was one evening and the next day I made contact with my private healthcare provider and I was able to see a consultant in less than 24 hours.
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TMA Club – Protecting your Clients: The Importance of Accurate Information
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