Product Blast w/e 15 October 2021

Product Blast sponsored by Precise Mortgages

Update Overview

This week shows lenders such as BM Solutions, Buckinghamshire Building Society & Coventry focusing on first time buyers and new business deals by reducing rates and improving the criteria on these ranges. New Holiday let products are also being launched by the likes of Lendinvest & Furness. Pepper has introduced a product with their lowest residential pricing since 2018 and brought the LTV’s back up to pre pandemic levels.

This Week's Updates

LENDER	TYPE	DETAIL
BM Solutions	RESI	CHANGES - to select new business product rates & launched 2 new further advance products at 75% max LTV
Bucks	RESI	CHANGES - removed the LTI limit from FTB products (FF17, FF18 & FF19)
Coventry	BTL, RESI	CHANGES - to FTB's lending policy, new range of FTB products launched at 95% LTV with £500 cashback. All BTL & Portfolio Landlord BTL product rates increased & end dates extended across all products
Darlington	RESI	NEW - launched a Shared Ownership product (FR444) which replaces (FR423)
Foundation	BTL, RESI	NEW -Green Range Resi & BTL products launched
Furness	BTL	NEW - fixed rate Holiday Let products which are available across England, Scotland, Wales and the Isle of Skye
H&R	RESI	CHANGES - updated their RIO product
HSBC	RESI	CHANGES - updated rates on selected resi products & reduced max loan to £2m for 70% LTV
Interbay	BTL	NEW - BTL range launched with all trail ERCs removed
Ipswich	RESI	REDUCTIONS - in rates across standard resi (including later life customers) & expats
Kensington	BTL, RESI	CHANGES - 2 resi products withdrawn, reduced rates and completion fees, 2 special rate products (1 resi, 1 BTL)
Leeds	RESI	CHANGES - Resi, Interest Only & Retirement Interest Only ranges moved to Jan end dates. Selected Resi fixed rates reduced by up to 0.30% or increased up to 0.08%
L&G	RESI	INCREASES - interest rates by up to 0.39% across all lifetime mortgage products & RIO rates from 3.55% to 3.75%
Lendinvest	BTL	CHANGES - new holiday let products, rate reduction on BTL products, lower rates on EPiC range, new 7 yr pay rate product, widespread criteria changes
Melton	BTL, RESI	CHANGES - rolled out end dates to Jan 2024 on select 2 yr fixed Resi & BTL products
Natwest	RESI	CHANGES - select rate changes & extended end dates to February
Norton	RESI	CHANGES - to lending criteria, web documents, ERC's & Redemption Fees
Pepper	BTL, RESI	CHANGES - new products including lowest Resi pricing since 2018, rate reductions to light range, extended affordability boosts, higher LTV's back to prepandemic levels, completion fee on Pepper 60 Ltd Edition product reduced from 2% to 1% flat fee
Progressive	RESI	NEW - purchase and remo products with floored rate applied to selected variable products
Shawbrook	BTL	CHANGES - further enhancements to cater for small HMO applications, which can also qualify for AVMs
Skipton	RESI	CHANGES - updated rates on selected products & launched new Residential Retention products
TML	BTL	NEW - fixed-fee BTL mortgages up to £3m
TMW	BTL	REDUCTIONS - in rates on a selection of Limited Company BTL products
TSB	RESI	CHANGES - selected rate reductions, end dates extended to Feb, new products introduced & products withdrawn
Vida	BTL	REDUCTIONS - in rates on BTL Limited Edition products

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Product Blast sponsored by Precise Mortgages

Update Overview

This Week's Updates

01792 277 555

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