Mansfield Building Society
Mansfield updates lending policy to include 10 storey flats
Mansfield Building Society has extended the range of property types on its owner-occupied residential and buy to let (BTL) product range to include flats of up to 10 storeys.
The changes improve on the previous maximum allowance of four storeys and the improvements includes flats over commercial units and city centre flats, which will be underwritten on the same terms.
Flats are available up to a maximum of 90% LTV for residential and 75% LTV on BTL with new build flats (less than 12 months old) available at a lower LTV of 85% for residential and 70% LTV for BTL.
Commenting on the changes, Intermediary Sales Manager, Tom Denman-Molloy said:
“Mansfield Building Society is already well-known for our wide-ranging criteria that supports unconventional circumstances, whether it’s income, credit history, capital raising, debt consolidation and more.
Increasing the number of storeys for flats extends our appeal, particularly in cities, where high-rise blocks are an essential part of the property mix. We’re looking forward to offering our flexible lending approach to even more borrowers.”
A common sense approach
If you’ve got a case on your desk that requires a common sense approach to lending then please pick up the phone to our Broker Support team on 01623 676360 or visit https://www.mansfieldbs.co.uk/intermediaries/.
Legal & General
Download the latest issue of The Link
In the latest issue of The Link, we’re focusing on how our industry works to improve the lives of our clients, whether that’s through enthusiasm for protection, relationships with clients and carefully tailored products.
In this issue:
- Talking protection at the BQAs – James Shattock shares his thoughts from this year’s Business Quality Awards.
- Beth and Pete’s story: How Critical Illness Cover gave them time and choices – How one family’s cover helped them make precious memories after a terminal diagnosis.
- Cover that’s in tune with change – We’ve been fine-tuning our Critical Illness for better cover.
United Trust Bank
Broaden your horizons with residential mortgages at UTB
Not only do we have market leading rates, but a fabulous range of residential mortgage products with flexible criteria to help you help more customers achieve their home buying dreams.
In response to the growing needs of our customers and the market, we have extended our criteria to cater for a wider range of scenarios including:
- Max loan size is now increasing to £1m up to 85% LTV
- We are increasing DTI to 50%
- 0 LTI can be used up to 60% LTV and 4.5 LTI up to 85% LTV
- We support customers with CCJs, defaults and missed mortgage payments
- Up to 75% of commission, bonus and overtime accepted
Our residential products support purchase, remortgage, first time buyers, customers without mortgage history and those looking for an interest only mortgage.
We accept: (subject to sufficient evidence)
- Employed = multiple income stream and zero hours accepted.
- Self-employed = Ltd Co and sole trader using latest years accounts
- Contractors = day rate x 5 x 48 weeks
And most importantly, we don’t restrict LTV based on property type or construction. From castle to council house, high rise to farmhouse all the way to the flat above the pub.
We manually underwrite every case offering a flexible approach and ability to take a view.
Contact us!
Our exceptional team of telephone BDMs and underwriters are available by phone and email, Monday-Friday to help you on 0207 031 1551 or mortgage.enquiries@utbank.co.uk
Pure Retirement
Empower Advisers with New Client Scenarios on High LTVs and Optional Repayments
Pure Retirement, a specialist lifetime mortgage provider, supports financial advisers to confidently illustrate the pros and cons of equity release to their clients by enriching the advisers’ repertoire with practical resources. The lender has added two new client scenarios to their case studies.
With these comprehensive resources, financial advisers are better equipped to tailor their guidance to the unique needs of each client, ultimately fostering trust and confidence in the financial planning process.
- 80-year-old Evelyn discusses paying off her interest-only mortgage and raising funds for domiciliary care. Her maximum LTV is 50.5%. View the full scenario here.
- and Mrs. Green, a working couple, want to release funds to support their son and have been advised to make voluntary repayments to manage the compound interest of their loan. View the full scenario here.
Please note, these cases are examples only and created for financial advisers. Every case will be different.
Market Harborough Building Society
Summer is here, but we’re not winding down – quite the opposite!
We’re busy making it even easier for you to place your clients’ cases by enhancing our products and criteria – finding even more ways to say yes!
Our new relaxed criteria means:
- Earned income will be considered up to age 75
- For maximum affordability we’ll include 100% of an applicant’s income from their second job
- On ‘sale and downsize’ interest only cases we’ll lend up to a maximum 75% LTV. Minimum equity applies.
Find out more about these great enhancements and how they could help you here – www.mhbs.co.uk/latest-news/July-criteria-updates/
Head of Mortgage Distribution Iain Smith commented “We’re kicking off the summer with these changes so we can help even more clients, including those with challenging circumstances. As one of the fastest-growing building societies, our foundations are built on delivering award-winning service and solutions, alongside a commitment to doing the right things for brokers to truly be the best lender for them.”
This is just the beginning, we’ve got more exciting announcements to come! Keep your eyes peeled or speak to your BDM to find out more about our plans. You can find their contact details by visiting www.mhbs.co.uk/intermediaries/contact-us/
Vitality
Justin Taurog: ‘Our industry needs to challenge the status quo’
Against a backdrop of changing consumer needs and wider trends impacting our world, genuine product innovation is what’s needed to move the protection industry forward, writes Justin Taurog, VitalityLife Managing Director.
In recent years, the protection landscape has fundamentally shifted. The pandemic followed by an economic crisis have presented both challenges and opportunities for our industry.
A lack of financial resilience for many households has heighted the need for protection, while there are growing numbers of people living with long-term illness.
Meanwhile, medical advancements alongside pressures on the NHS and changes in the way we live and work are all impacting products we offer.
e.surv Chartered Surveyors
Top tips for referring our surveys
In today’s fast-paced market, ensuring buyers have a smooth experience is crucial. Partnering with e.surv on surveys empowers you to offer exceptional service, ultimately securing your referral fees. Here are our top tips to help you sell the right survey at the right time.
Mention a survey in your initial conversations
Speaking to clients at the right time is key. Get in there early, even including information in your welcome emails. You can sell us on our excellent customer service, speed of response, and the value of the HomePlus digital survey format.
Show them a sample
Use the sample report and marketing material to support this. If you need a refresher just drop us a line. Feedback tells us the pre- and post-calls with a surveyor are particularly valued by clients.
Build confidence
Use positive experiences from other clients and your own experience of using us. There’s also the more than 7,000 Trustpilot 5 star reviews! Reference how surveys remove a lot of the unknowns out of the home buying process.
We’re better together
You can include us on your website, social media content and client emails, making the referral scheme and our win-win partnership known. If you need any assets, again just let us know.
Green Watch
In this month’s Green Watch, Corrina Jones MRICS discusses some of the green pledges made by the main political parties ahead of the general election on 4th July and reviews industry responses. Several environmental organisations have stressed that this election could either ‘make or break’ the UK’s net-zero future. We also look at just how important the environment and climate change are to voters.
Just how hot is it? The average temperature last month was 1.52C above the pre-industrial average and the UN’s World Meteorological Organization (WMO) predicted there is an 80 percent chance that average global temperatures will surpass the 1.5C target laid out in the landmark 2015 Paris Agreement within the next five years. This will increase climate risk which the Climate Change Committee and the National Infrastructure Commission has stated we are not prepared for.
Zurich
Fast access to diagnostics with Zurich Accelerate
Medical tests are usually needed to establish a diagnosis but there can be a delay between first seeing a GP to receiving the results. However, if your customers choose to add Zurich Accelerate to their Personal or Income Protection policy, have already used the Virtual Consultant service and been recommended further tests or investigations, they will be able to book an appointment at the most appropriate UK diagnostics centre for their needs, to get the right tests done quickly.
Roadblock removal
Zurich Accelerate can provide access to a medical diagnosis for three types of serious conditions – cancer, heart conditions and neurological conditions.
Three services within Zurich Accelerate – Virtual Consultant, Private Diagnostics Plus and Second Medical Opinion – focus on exactly this. Let’s take a look at how a customer might move between these elements of the service.
The Mortgage Lender
A handy guide to packaging a case
Doing business with TML should be quick, clear and straightforward. When you submit a case, though, we’ll need the right documents and information at the right time if we’re to provide the service you and your client deserve.
Help us to help you.
We know other lenders might do things differently, and you might be used to a different system. So to help us to provide you with the most efficient service, you can download and use our handy guide document for application submissions:
In the guide we’ll cover information like:
- how to provide the bank statements we need, for employed and self-employed applicants
- how to provide proof of deposit, whether gifted or from savings
- more tips to help you save time and ensure a quick, accurate, fair outcome
Working with us shouldn’t be hard work. Follow our list of tips and it should all be plain sailing.
Barclays
July – Dec 2024 Maturity Report
Barclays have released their latest market maturity report covering July – Dec 2024 showing circa £114b of maturities coming up between residential and BTL.
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