Brilliant Solutions

Product Blast w/e 17 June 2022

Update Overview

This week we continue to see the vast majority of lenders withdrawing their products and replacing them with increased rates, along with a further 0.25% increase by the Bank of England.   Hodge are temporarily closing to new business all-together to deal with their current workload.

This Week's Updates

LENDER TYPE DETAIL MORE
Coventry BTL RESI CHANGES - several rates increasing across both Resi & BTL ranges & 5 yr structures updated
Dudley RESI INCREASES - SVR increased due to BoE base rate increase
Foundation BTL RESI CHANGES - Green range expanded to Large HMOs, MUBs & F2 products. Product fee on Large Loan product (F1 tier) has been halved to 1% & reprice of all other fixed rate products across the BTL range
Hodge BTL RESI WITHDRAWALS - temporarily closing to new business across all mortgage products from 5pm on Thursday 16th June
H&R BTL RESI INCREASES - several rates increased across various ranges
Interbay BTL CHANGES - entire BTL range withdrawn & replaced. Process changed allowing brokers to upload all case submission documents to broker portal before they do a full initial underwrite
Kent Reliance BTL CHANGES - select products from BTL range withdrawn & replaced
Leeds RESI BTL CHANGES - New 5 yr Resi 95% LTV fixed & 10 yr Retirement Interest Only fixed introduced. Selected fixed rates increased by up to 0.26% & Selected 70% LTV Holiday Let fixed rates withdrawn
LiveMore RESI CHANGES - reduced ERC periods on long term fixed products
MPowered BTL CHANGES - updated BTL rates from 4.04%
Nationwide BTL RESI INCREASES - to select fixed rates by up to 0.40% across New & Existing Borrower product ranges
Newcastle BTL RESI CHANGES - validity & extension process revised
Pepper BTL RESI INCREASES - reprice on Resi, BTL & Affordable Home Ownership ranges
Precise BTL CHANGES - entire BTL range withdrawn & replaced
Progressive RESI CHANGES - Selected 2 yr fixed rates for House Purchase amended & 2 yr fixed rate Remo at 60% removed & replaced at up to 75%
Santander RESI CHANGES - updated resi affordability rate to reflect BoE base rate increase as well as tracker & SVR rates
TMW BTL INCREASES - to rates across New Business & Existing Customer product ranges
Together BTL RESI CHANGES - several rates repriced across various ranges
TSB RESI NEW - re-introduced 5 yr Fixed FTB & House Purchase £0 fee products & increased rates on 10 yr products
Virgin RESI CHANGES - All Exclusive fixed rates withdrawn & various rates increased over several ranges. Tracker rates increased due to BoE base rate increase
West One BTL CHANGES - All current fixed rate products withdrawn & replaced with pricing from 4.64%

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