Coventry for intermediaries re-enters 95% LTV market
Coventry for intermediaries is re-entering the 95% LTV market with two 5-year Fixed products aimed at people buying homes with smaller deposits.
The 95% LTV products are priced competitively and, with a maximum loan size of £400,000, they should appeal to a significant part of the purchase market looking for higher LTV products as they are available for home movers as well as FTBs.
The range includes options with and without a product fee. Brokers have been reminded that the fee can be added to the loan but the total borrowing including any added fees must not exceed 95% LTV.
Products are available for purchase and product transfer only.
To see the full product range, visit Coventry for intermediaries.
New innovative Buy to let process
We have streamlined our Buy to let application process, and worked with you, our broker community, to develop this innovative tool to simplify where possible.
The new affordability assessment and calculator will enable the following:
- Instant initial decision on our Buy to let product range
- Swift resolution for your clients
- Faster customer and broker journey
- No DIP required
Please ensure you submit all supporting documentation along with your application.
Claire Askham, Key Account Manager (North & Midlands) says, “The key to our continuous development is our continual communication with our broker partners, enhancing their experience with us.”
Claire continues; “combining the streamlined process with the ability to use non-indemnity search insurance on a remortgage case, will also speed up completion times.”
Ready to complete our Buy to Let Affordability Assessment? Click here to access the calculators on our website.
To find out more, please contact your nearest Key Account Manager here.
An ambitious strategy for Source, the 3-year growth plan
Source are future proofing their business by creating a strong and ambitious business strategy, with significant internal investment over the next few years. Source’s planned investments in their people and technology will expand the reach of their expert support, to even more brokers across the UK.
“The last year has been tough on everyone. I’m proud to say that we have adapted well to the ever-changing situation. All staff have been working from home, with the necessary tools to continue to undertake their roles to the highest of standards, to ensure they’re providing the best service possible for our customers.” – Tania Frowen, MD.
The business hasn’t escaped the impact that Covid-19 has had on the industry, however, Source has continued to thrive with the support of the whole company and their brokers. Their initiatives will ensure that they continue to be the go-to provider for brokers placing their GI business.
The Technology that’s improving our Buy-to-Let speed to offer
Digital ID from your smartphone, integrated credit searches and Open Banking; learn more about the technology making your Buy-to-Let applications simpler.
COVID-19 ONE YEAR ON: THE IMPACT ON THE MORTGAGE MARKET
It’s lockdown day 365 – and I still can’t quite get my head around the fact that we’ve been living through this pandemic for a whole year. In March 2020, our worlds were turned upside down by the arrival of Covid-19: a virus that, at the time, we knew so little about, forcing us to stay at home and protect lives.
Fast forward a year and the outlook is thankfully so much brighter, with the vaccination programme and ongoing lockdown bringing case numbers down quickly – and the prospect of a summer of seeing friends and family once again bringing hope and joy after a year that has been incredibly challenging for us all.
Every industry has been affected by the pandemic differently and as part of the webinar series we’ve been hosting across the year, we wanted to take a look back at the impact it has had on the mortgage market.
Having conducted our own broker research at the beginning of the pandemic and more recently, we had some great sets of data to compare, contrast and discuss with our brilliant panel: Sarah Tucker, Founder and Managing Director at The Mortgage Mum, Lisa Martin, Group Development Director at LSL Financial Services – TMA and our New Business Director, Craig McKinlay.
Before we kicked things off, Alex Maddox, Capital Markets and Digital Director at Kensington provided an economic update and an overview of the housing market.
First timers or seasoned pros? We have something for every landlord.
We welcome business from first time landlords for Standard product applications to seasoned pros with large background portfolios. Our competitive and broad range of products and criteria, featuring zero application fees and fee free product options available, means at Zephyr you can be sure to find something for every landlord.
First time landlord requirements
- At least one applicant must have owned and still own at least one property (residential or buy to let) for a minimum of 12 months.
- Employed – must be in permanent position for at least 6 months and not under notice of termination.
- Self Employed & Contractors – One full year’s evidence of income from accounts or accountants
certificate or SA302 together with a tax-year overview.
Portfolio Landlord highlights:
- No background portfolio stress test; rental income simply needs to cover the Zephyr mortgage
- Unlimited background portfolio
- We partner with eTech’s BTL Hub to allow you to send through additional background information in a quick and simple way.
For more information take a look at our Application Submission Guide here
Got a question about a case? Get in touch with our expert BDM Team, call 0370 707 1894
March Update: How We Can Support You
Marketing Toolkit in Focus
Unsure how to generate more sales leads? Our adviser toolkit has a host of free materials ready to be personalised to your brand and with our new ‘Essential Starter Pack’ it’s easier than ever to get the ball rolling. The bundle includes a collection of ready-made materials including a print flyer, digital advert and one LinkedIn post allowing you to kickstart your marketing presence with fast turn around times.
The new addition follows on from the launch of our ‘Mix and Match’ service, which allows you to have even more control over resources available to you with flexible options on imagery, text and headlines.
Product Focus
Flexibility is at the core of all our products and we’re continually working to provide innovative lifetime mortgage solutions that can adapt to your customers’ needs, and with our Heritage, Sovereign and Classic ranges we can offer a range of features including flexible repayments, fixed ERCs and a range of LTV tiers. We’ve recently launched new Classic products with higher LTVs – Classic Supreme and Classic Supreme Plus (available on lump sum plans only).
Business Update
Cyber Crime Webinar – Join us this Wednesday 31st March at 10am for our Cyber Crime webinar with Eddie Lamb, member of the CyberClear team at Hiscox and a specialist educator on the topic. With over 100 sign-ups, it’s set to be an unmissable event!
Read the views of our CEO
Following the recent launch of the Equity Release Council’s social care report, which we supported alongside My Care Consultant, our CEO, Paul Carter further unpacked the discussion on how equity release could provide a potential long-term care funding solution which can be read on Iress.
Why is there more interest in servicing interest?
In 2020, 17% of our lifetime mortgage clients chose the interest serviced option, an increase from 13% in 2019.
Our updated infographic explains why there is more interest in the servicing interest, especially amongst clients wanting to reduce the impact of roll-up interest.
Why you should use impact packaging for placing specialist and complex cases
Impact packaging is an award winning, market-leading mortgage distribution and packager built on 30 years of experience and a reputation for quality and service.
Our packaging team has a wealth of experience assisting mortgage intermediaries in the placement of their cases. With strong lender relationship, impact can provide access to both exclusive products and on-site underwriters, helping ensure you are getting the best deal for your client as quickly and easily as possible.
Here’s why brokers use impact packaging for their clients:
- We have strong relationships
- We are specialists
- We understand the criteria
- Exclusive lender products and preferential rates
- Support
- Dedicated case managers
- Packaging team who is always ready to take a call
Have an enquiry or a case you would like to discuss?
Call the Impact Team on 01403 272625 to find out more.
Keystone’s top tips to help get your cases completed before the Stamp Duty deadline…
With the announcement of the extension of the Stamp Duty Land Tax Incentive until the 30th June 2021, means there has been an increased number of applications being submitted and more of an urgency to get your clients complex buy to let cases completed as smoothly as possible to avoid delays and frustration.
We understand this can be challenging within the current climate which is why we wanted to share our top Stamp Duty completion tips as well as some key information for you to be aware of.
What you can do to help your clients complete before the deadline…
- Review lenders service and turnaround times, ours can be found on our website homepage and the MyKeystonebrokerportal
- Check the timeframes of searches within the area, you can find a list for all local council’s search times which are regularly updated on the Searchflow website.
- Ensure all required documents have been uploaded to the case and that all details match the full mortgage application. If you are unsure about what documents you need then check our Document Requirements guide
- Discuss with your client whether it is appropriate to instruct the valuation at the same time as the full mortgage application.
If you need help with a new or existing complex buy to let case, then register with us today via the MyKeystone portal or call our broker hotline on 0345 148 9086.
New resources available to help to support your conversations
To help you be confident when talking to clients about their general insurance needs, Paymentshield have put together their most effective resources in a handy interactive way.
With more than 50% of advisers telling Paymentshield they sometimes or often struggle to engage their clients in a conversation about GI1, their interactive resource can help overcome the reasons that typically stop the conversation from happening.
Whether it’s your clients wanting to arrange it themselves to thinking you don’t have the time, or somewhere in between, Paymentshield can help give you the belief.
Explore their interactive resource now and be confident!
LV= enhance their Protection Progress Hub, saving you valuable time.
Launched in 2020 the LV= Protection Progress Hub is an easy and convenient way to track the progress of your applications – providing you with key information as well as live updates, saving valuable time and making it easier for you to do business with us.
Since the launch we’ve been continually improving the Hub’s functionality to help you track and progress your client’s applications through this easy to use tool.
We’ve recently introduced the ability to:
- Add a start date and add or amend client bank details.
- Use the simple Collection Date Calculator to work out the first two premium collection dates.
- Download acceptance terms documents.
- Use the improved navigation to access joint life application details.
Start tracking your applications
Login with your Fastway details to get started, or email or call our agency team to set up your login details.
Enhancements to the Hub will continue based on adviser feedback, so if you have any questions or comments please contact your usual LV= Account Manager or call us on 0800 032 4219.
Extended Stamp Duty Holiday is Driver
The stamp duty holiday has been a key driver for equity release ‘gifting’ and this could be the perfect solution for many clients this year to help get their loved ones on the property ladder.
Key Partnerships can support you with independent whole-of-market, personalised advice – helping your client understand and decide whether equity release is right for them.
All we need is your client’s name, age and contact details and we’ll do the rest – even down to the compliance responsibility for the advice given. We’ll keep you posted every step of the way – they are your client after all.
Plus, for every case that completes, you could receive an average referral payment of £1,766 (2020 average).
Start referring today
It only takes a few minutes to register and make an equity release referral
