Brilliant Solutions

The internet is down in our Head Office.  Staff continue to answer the phone and respond to messages but understandably response times and service standards are affected.  Please contact your Relationship Manager directly if you have any urgent issues.  Thank you.

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.

Hinckley & Rugby Update

Hinckley and Rugby Building Society has updated its product and criteria, the details are below.  These products are available through our direct to lender mortgage club so contact us for more information on how our club can support your business. 

PRODUCT LAUNCH: We are back offering Buy to Let Products

We have launched three new Buy to Let (BTL) products, discounted off our SVR and a new 2 Year Fixed (90% LTV). Explore the details below and if you have any questions, get in touch with our team!

Standard 2 Year Fixed 4.99% (90% LTV)

Our 2 Year Fixed supports borrowers with smaller deposits with a 90% LTV and provides peace of mind with fixed repayments over the next two years.

Standard 2 Year Fixed 4.99%, £999 Fee, Free Valuation under £1M (90% LTV) 

Standard Buy to Let

Supporting borrowers looking to buy their first Buy To Let property or existing landlords expanding their portfolio.

  • Portfolio maximum of 20
  • BTL must be self-supporting, if not applicants must apply for our Top-Slicing product below
  • Basic tax rate payers must have an interest cover ratio of 125%
  • Higher & Additional taxpayers must have an interest cover ratio of 145% 
  • Not suitable for applicants who do not own their own home 

2 Year Discount 4.10% off Standard Variable Rate, £1,249 Fee, Valuation Fee Applicable (60% LTV) 

Non-Owner Buy To Let

Perfect for borrowers who do not own their own home but wish to purchase or re-mortgage an investment property.

  • BTL must be self-supporting, if not applicants must apply for our Top-Slicing product below

Non-Owner – 2 Year Discount 3.38% off Standard Variable Rate, £1,249 Fee, Valuation Fee Applicable (60% LTV) 

Top-Slicing

Suitable for those who wish to purchase a Buy To Let property but the rental income doesn’t meet our minimum interest cover ratios but can use personal income to top-up the rental income.

Top-Slicing – 2 Year Discount 3.80% off Standard Variable Rate, £1,249 Fee, Valuation Fee Applicable (60% LTV) 

We have reduced our stress rate from 3% to 1%

We are pleased to share that we have reduced our stress rate from 3% to 1% to help improve the affordability of your clients. As a lender, we want to ensure that we continue supporting borrowers, and understand there has been little let-up with the cost-of-living crisis putting a real strain on households.

Combine non-standard incomes with Income Flex for greater mortgage affordability

Available at 80% LTV and 90% LTV, our Income Flex products will allow a combination of any two non-standard incomes, and also permits borrowers meeting our standard income criteria to apply for an income multiple up to 5.5 for the two highest earners.

Visit our website to explore Income Flex criteria and our current available products.

How we evaluate mortgage enquiries using our Six Pillars of Lending

The Six Pillars of Lending are the aspects that our experts consider when assessing any mortgage enquiry. These six pillars include:

  • Loan to Value (LTV)
  • Loan to Income (LTI) – aka ‘Income Multiple’ 
  • Affordability 
  • Standard of the subject property 
  • Individual circumstances
  • Credit history

Using the six pillars process helps us to look at the strength of an application using truly manual underwriting, helping us meet your clients’ needs. 

If you want to learn more about the pillars and how they can impact your clients’ mortgage applications, click below to read the full article on our website.

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