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.

Metro Bank Update

Metro Bank have announced a broker update, available below.  Contact us to see how we help brokers like you across the UK, Alternatively please refer to our Mortgage Lending Criteria Guide and Product Guides.

Announcement

ACCEPTABLE INCOME TYPES

We understand that over the last decade the way in which people in the UK receive their income has changed dramatically. We consistently evolve our policy to be able to offer solutions to as many of your customers as possible.

Acceptable income highlights

Employed: 100% of basic and fixed acceptable allowances if 12 month track record and sustainable

Self-employed: Profit before taxation plus Directors remuneration used if 100% of Ltd company shareholders are on the application. Max LTV 95% subject to criteria & sustainability checks

Contractor: Daily rate x 5 x 46, no minimum contract value, all industries accepted, no more than six weeks of gaps, umbrella companies accepted

Investment income: Accepted at 5% of fund value over a maximum term of 20 years – subject to a minimum managed portfolio value of £250,000

Private pension: SIPP/SSAS income accepted at 5% of the fund value, over a maximum term of 20 years, this can be considered even if not currently being drawn if the customer is over age 55 and the assets are liquid

Variable income: We use 50% of cash bonus/commission/overtime from the latest/current tax year

For full details on the points above, please refer to our Mortgage Lending Criteria Guide and Product Guides.

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