Brilliant Solutions

The office will be closed from 5pm today for staff training, open as normal tomorrow. 

Our office will be closed from 5pm Thursday, 20th October to 9am Friday, 21st October.
If you have any cases or enquiries that this may affect, please contact our team today. We apologise for any inconvenience.

We are currently experiencing some technical issues that are affecting our telephone lines and internet connection.

We hope to resolve this asap. Apologies for the inconvenience.

 

In honour of Her Majesty Queen Elizabeth II our offices will be closed on Monday 19th September while our staff pay their respects.

The office will re-open at 9am on Tuesday 20th September.

TSB Update

See the latest announcement from TSB below.  Note that you can access TSB via the Brilliant Solutions mortgage club but the lender does place some restrictions on access. Contact us for details.  

TSB Mortgage Product Guides are available here but check the date to ensure it has been updated to reflect the announcements below.

Brexit changes impacting Buy to Let customers who are living overseas

TSB Buy to Let criteria changes from 1 January 2021.

A summary of the changes:

Buy to Let customers who are living overseas will no longer be able to complete a Rate Switch application with TSB.  This restriction is to ensure we maintain regulatory compliance with both UK and European law post Brexit.

In preparation for this change, Buy to Let accounts with an overseas correspondence address have been identified and an indicator applied to their account. Customers will be informed of this change to criteria if they make a Rate Switch application.

If a Buy to Let customer informs us that they now reside in the UK, the Rate Switch application will be progressed.

You’ll find the updated criteria guides on our website.  All brokers registered with TSB will be contacted to let them know about the changes.

Rate increases for a selection of Residential products.

TSB is increasing rates on a selection of Residential products on Thursday 31 December 2020.

 A summary of the changes:

 Increased rates on First Time Buyer and House Purchase 2 Year Fixed 60-75% and 80-85% LTV by 0.15%.

All brokers registered with TSB will be contacted to let them know about the changes. All existing applications must be submitted by 8pm on 30 December, as the products will not be available after this time.

 

Important news from TSB: Changes to Residential product range 

TSB has made changes to a selection of Residential products effective on Friday 15 January.  

A summary of the changes: 

 ·        All Residential product end dates move out to the end of May. 

 Temporary withdrawal of:

·        2 Year Fixed, First Time Buyer and House Purchase, 60-90% LTV 
·        2 Year Fixed Remortgage, 60-85% LTV  

 Rates reduced on: 

 ·        5 Year Fixed (3 Year ERC) First Time Buyer and House Purchase, 85-90% LTV by 0.10%.

 Rates increased on: 

 ·        5 Year Fixed (5 Year ERC) First Time Buyer and House Purchase, 60-90% LTV by up to 0.15% 
·        First Time Buyer Stepped Down, 85-90% LTV by 0.15%.

 All brokers registered with TSB will be contacted to let them know about the changes. All existing applications must be submitted by 8pm on Thursday 14 January 2021.  

 

Here’s a reminder of TSB’s affordability criteria for furloughed and self-employed income:   

 Please note: Overtime, bonus and commission is not currently accepted towards affordability for all applications.  

 Self-employed: 

·        LTV maximum 75%. 
·        Maximum loan to income multiple of 4.25 times income.  
·        Minimum of 2 years income history required. 

 Furloughed applicants: 

TSB does not accept furloughed income towards affordability. This also applies for furloughed income topped up by an employer.  

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