Brilliant Solutions

Mortgage Product Update

Product Blast w/e 04 Dec

Update Overview

This week we see a number of lenders introducing new higher LTV products to their product ranges.  A number of lenders have made changes to their minimum ICR policy.  New product ranges have been launched by Pepper, Precise, Interbay, Foundation and TSB.

This Week's Updates

Accord RESI INCREASES - across residential product transfers and additional loan ranges
Aldermore RESI NEW - 90% LTV product
Barclays RESI CHANGES - new premier exclusive products. Withdrawal of a small range of products. Increased rates on various residential, purchase only products
BM Solutions BTL INCREASES - across product ranges & extended end dates
Buckinghamshire BS BTL, RESI CHANGES - rate changes & end date extensions made across various products
Coventry BTL CHANGES - reduction to stress rate for portfolio calculations & increasing minimum portfolio ICR from 125% to 145%. Product refresh due 8th December.
Foundation BTL, RESI NEW - 2 & 5 yr fixed BTL products with reduced upfront costs. Early remortgage HMO product. 80% LTV fees assisted residential remortgage range.
Godiva BTL CHANGES -to minimum ICR policy.
Halifax RESI CHANGES - rate changes to selected remortgage products. End dates extended for direct, BTL & further advance products to April.
Harpenden BTL, RESI WITHDRAWN - Holiday home and second home products
Hinckley & Rugby BTL, RESI DECREASES - on selected products
HTB BTL INCREASES - to rates for loans from £100k to £200k
Interbay BTL NEW - 65% LTV Commercial product range
Ipswich BS RESI WITHDRAWN - selected products across residential range
Kensington RESI CHANGES - increasing loan sizes on residential products to £80k & withdrawing all RTB & residential core range products
Leeds BTL CHANGES - new reduced rates for selected BTL & portfolio BTL products. New fixed rates for BTL, Portfolio BTL, Holiday Let and Second Home introduced.
Nationwide RESI CHANGES - new 90% LTV products. Changes to gifted deposit allowance. New residential further advance products
Natwest BTL, RESI CHANGES - updated employment policy & evidence of income.
Newcastle RESI NEW - 2 yr 85% LTV residential products. Reduced SVR to 3.96%
Nottingham BTL, RESI CHANGES - reduction in rates to small selection of products. Changes to ICR coverage policy. Updated criteria for self employed.
Pepper RESI NEW - 85% LTV reduced rates, return of Pepper 24 products & free valuations added to product ranges
Platform BTL, RESI CHANGES - new products across new business range for mainstream & BTL. Reductions to product switch range for mainstream, BTL & HTB products
Precise BTL NEW - refurbishment BTL product, reduced 5 yr fixed rate limited company product & flat fee fixed rates for BTL & HMO's for larger loan sizes
Principality RESI INCREASES - across product transfer range.
Saffron BTL, RESI CHANGES - to assessment of self employed & contractor incomes. Reduced rates on retirement interest only range. Extended end dates to a number of products.
Santander RESI CHANGES - new 85% LTV product & zero fee products. Changes to criteria in relation to Brexit. No system access 5th & 6th December.
Scottish Widows RESI REDUCTIONS - to selected product transfer & further advance products
Skipton BS BTL, RESI CHANGES - all repayment types now available for selected products. Rate changes across product ranges. Extended end dates.
Tipton RESI CHANGES - updated products in the new business residential range
TSB RESI CHANGES - re-introduction of full range of 85-90% LTV FTB & Home Mover products. Update for HTB applications. Reduction to a selection of residential products.
Virgin RESI CHANGES - increases to 90% & 95% LTV product transfer rates. New 90% LTV FTB 5 yr fixed product
West Bromwich BS BTL, RESI CHANGES - amended rates & extended end dates on existing customer products

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