Brilliant Solutions

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Product Blast w/e 15 October 2021

By / 14th October 2021 / Product Updates

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 MORE
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Kensington BTL, RESI CHANGES - 2 resi products withdrawn, reduced rates and completion fees, 2 special rate products (1 resi, 1 BTL)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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