Inform 22nd April 2022

Signs of vulnerability can include temporary situational issues like bereavement or divorce, or inherent issues like a long term illness or a disability.

We’re here to support vulnerable customers who may need more help with their mortgage application.

Our Looking out for vulnerable customers guide helps identify and understand vulnerable customers.

Just upload a note to MATS or contact your dedicated contact to bring their application to our attention.

TMA members now have access to new 95% LTV shared ownership exclusive product range.

Please click here to view the full products guide.

You’ve been telling them what you are looking for and they have responded!

This week LiveMore are excited to launch their new product offering – LiveMore 1,2,3 and 4. This new tiering will enable them to offer more options to your customers and give wider reach across the market.

The new tiers will enable you to help more of your clients, including those looking to consolidate debts, remortgage or purchase a property of non-standard construction or where your client has a more complex credit profile.

For more information about LiveMore 1,2,3,4 and what this means for you, watch the short video or view their products here

Zephyr Homeloans are hosting a Limited Company Conveyancing webinar, taking place on the 26th April at 11am.

We will have guest speaker Julian Sampson, Partner and Head of Lending at TWM Solicitors. Julian has 20 years’ experience in lending law and specialist lending, and will talk you through what happens with limited company/SPV conveyancing, giving useful insight and tips.

Julian will answer questions like:

• Why is limited company conveyancing so different?
• Why do lenders use a closed panel?
• And why are things like board minutes so important?

He will be joined by our Regional Sales Manager, Andy Rowe.

The webinar will last around 45 minutes and will include a live Q&A session, so get your questions ready!

All attendees will also have the chance to win a £50 Amazon voucher too.

Register for the webinar now

MHBS has strengthened its team of bridging specialists with the appointment of experienced underwriter, Nicky Vaughan.

Nicky was previously a bridging and development underwriter at Bridging Finance Solutions, and has more than 10 years’ of underwriting experience.

Nicky said “MHBS has a comprehensive range of products for both simple and more complex cases and I’m excited to be joining their dedicated bridging team. I’m looking forward to working closely with their intermediaries and helping them secure the right bridging solution for their clients.”

MHBS recently announced the launch of specialist bridging products for HNW clients.

Their Intermediary Team can be contacted on 01858 412345 or for more information click here.

Borrowers and brokers in the holiday let sector will have significantly increased choice as The Mansfield has now added lending to limited companies and Expats to its popular holiday let offer.

In addition to expanding its holiday let borrower types, The Mansfield is also increasing the maximum LTV from 70% to 75% for holiday lets and its maximum loan size to £1million for buy to lets.

Affordability for all holiday let lending with Mansfield will continue to be flexibly assessed on a proportion of an annual average of Low, Mid and High season rental income, including consideration given to Top Slicing.

Intermediary sales manager, Tom Denman-Molloy, said the Society was looking forward to offering ever more versatile solutions for buy to let landlords in the year ahead:

“We’re really excited to be bringing these changes to the holiday let sector because we’re committed to making a real difference to brokers and their clients.

By expanding our holiday let lending into these underserved segments and extending our loan sizes and LTVs for all holiday lets, we can give real opportunities for brokers that need to find versatile and open-minded solutions to clients with ever evolving mortgage needs.”

UTB has announced their recently enhanced Heavy Refurbishment proposition which is only available via a limited number of introducers.

Impact Packaging are delighted to have been offered this new improved product range which has some great USPs including:

• Max 75% net day 1 LTV (net of interest but including fees)
• Max loan term 24 months
• Max LTGDV 70%
• Max works costs lower of £750k or 70% of initial value
• 100% works funded in arrears
• No exit fees or redemption penalties

Heavy Refurb Criteria:

• Max facility £2.5M
• No owner-occupied lending (Non-Regulated only)
• Properties in England only
• Applicants must have clean credit record, not be excessively geared, and have net worth at least equal to the cost of improvement works
• To qualify, you must have experience of at least two similar successful projects in the last 5 years

Access a faster bridging solution, call the Impact team on 01403 272625 or email bridging@impactsf.co.uk

According to Nationwide’s latest House Price Index*, March saw another steep climb in house price growth to 14.3%, the strongest increase since November 2004. The price of a typical UK home now stands at £265,312 – that’s more than £33,000 more than it was this time last year.

It’s never been easy to buy a property, but imagine that, on top of this price increase, you’ve also suffered a credit blip in the past few years. That dream of owning your own home must feel as though it’s slipping further and further away.

Fortunately, here at Precise Mortgages we don’t believe a mark on their credit record in the past should stop customers from getting the residential mortgage they need now.

It’s why we’ve widened the type of adverse we’ll accept across our core and DMP residential range, as well as increasing the maximum LTV to 85% for customers with recent credit blips.

Adverse credit

New 2 and 5-year fixed rates for customers with the following adverse:

• Defaults – up to 5 in last 24 months
• CCJs – up to 3 in last 24 months
• DMPs – active and recently satisfied
• Missed mortgage/secured loan arrears – 1 in 12 months, 3 in 36 months (worst status)
• Unsecured arrears – not counted

LTV increase

We’ve also increased the maximum LTV to 85% for customers with the following adverse:

• Defaults – 2 in 24 months (maximum £1,500 in 12 months, unlimited thereafter)
• CCJs – 1 in 24 months (maximum £1,000 in 12 months, £2,500 in 24 months)
• DMPs – active and recently satisfied
• Missed mortgage/secured loan arrears – 1 in 12 months, 3 in 36 months (worst status)
• Unsecured arrears (not counted)

For more information, download our product guide or take a look at our online criteria guide.

And don’t forget, if you’ve got a question about our range, a member of our sales team is always here. Alternatively, you can speak with us via Live Chat or call our dedicated support service on 0800 116 4385.

* Source: www.nationwidehousepriceindex.co.uk/reports/uk-house-price-growth-surges-to-its-highest-level-since-2004