Brilliant Solutions

NEW OPENING HOURS –  Office now closes 5pm on Friday

The Brilliant Loans direct number, 01792 277 277,  is not currently working.

Please Call us via Brilliant Solutions on 01792 277 555, option 3

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.

Product Blast w/e 01 July 2022

By / 1st July 2022 / Product Updates

Product Blast sponsored by Interbay - click here to view products

Update Overview

This week, we can see that the vast majority of lenders are still increasing their rates while continuing to expand their criteria. An interesting criteria change comes from Bluestone who have introduced a new affordability model and increased income multiples exclusively for Sapphire Club members – available via Brilliant Solutions.

This Week's Updates

LENDER TYPE DETAIL MORE
Accord BTL RESI CHANGES - Resi & BTL ranges withdrawn & replaced with increased rates. Discounted SVRs for New Business & product transfers re-launched as well as a new range of BTL 2 Yr Discounted Variable Rate products launched
Aldermore BTL RESI CHANGES - several products withdrawn & amendments made to mortgage application process
Bluestone BTL RESI CHANGES - can now consider lending over 4.5x income across full product range & new affordability model launched exclusive to Sapphire Club members (through Brilliant) which enables borrowers who have a 12 month history of current rental/mortgage payments in excess of the proposed monthly mortgage payment
CHL BTL NEW - Launch of Light Refurbishment BTL product range, with no Bridging element
Clydesdale BTL RESI INCREASES - select rates increased across various ranges
Even RESI CHANGES - can now boost your client's budgets by up to 20% & is now available up to a combined deposit of 30% of the property value
Family BTL RESI CHANGES - all Fixed Rate & Discount mortgage products withdrawn & replaced
Foundation BTL CHANGES - full BTL range withdrawn & replaced
Interbay BTL COMM CHANGES - commercial, semi-commercial & holiday let products withdrawn & replaced
Kensington BTL RESI CHANGES - product transfer portal now live. BTL Core Special Edition 2.99% rate (75% LTV) removed
Kent Reliance RESI CHANGES - current residential & shared ownership products withdrawn & replaced
Landbay BTL CHANGES - select rates amended
Leeds BTL RESI CHANGES - several rates increased across various ranges & select Shared Ownership & Shared Equity products withdrawn
Lendinvest BTL CHANGES - several criteria changes made
Metro BTL CHANGES - Legal Assist BTL re mortgage only products replaced with BTL re mortgage only products with an increased cashback of £500 & no valuation fee
MPowered BTL CHANGES - refresh of rates
Newcastle RESI CHANGES - several products withdrawn & replaced
Norton RESI INCREASES - increase of 0.75% on all 1st charge lending plans due to BoE base rate increase
Precise RESI CHANGES - Right to Buy, Help to Buy & all current limited edition products withdrawn & replaced with increased rates
Progressive RESI CHANGES - select rates across various ranges amended
Saffron BTL RESI CHANGES - multiple new products launched. Policy changes made regarding VISAs & adverse. SVR increased due to BoE base rate increase
Santander BTL RESI INCREASES - several rate increases made across various ranges. Select products withdrawn with some replacements
Shawbrook BTL COMM INCREASES - select rates increased across various ranges & arrangement fee increased to 2%
Suffolk BTL RESI INCREASES - several rates increased across various ranges
Together BTL COMM RESI INCREASES - several rates increased due to BoE base rate increase
TML BTL NEW - multiple products launched
TMW BTL CHANGES - amendments made to the way EPC proofs are processed
TSB BTL RESI CHANGES - several rates increased across various ranges & 5 yr £995 fee products re-introduced. Temporarily withdrawn 5 yr fixed FTB & Home Mover Products
UTB BTL RESI INCREASES - rates increased due to BoE base rate increase
Vida BTL RESI CHANGES - enhancements made to self-employed criteria
Zephyr BTL INCREASES - to select rates
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    01792 277 555

    INTERMEDIARIES ONLY

    Office Hours:  09:00 – 17:30 Monday – Friday

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