Brilliant Solutions

Mortgage Product Update

Product Blast w/e 18 Dec

Update Overview

This week sees a range of lenders announcing their new Help to Buy product ranges.  We are seeing some lenders change processes, requirements  and introducing “no search” indemnity insurance in order to help try and meet the stamp duty deadline. A continuation of lenders amending rates and product ranges in order to try and maintain service standards.

This Week's Updates

Accord BTL, RESI CHANGES - New Help to Buy products for the 2021-23 government scheme. Rate changes across BTL product transfer ranges.
Aldermore BTL, RESI CHANGES - relaunch of commercial & BTL ranges with Bank of England Base Rate & Aldermore Managed Rate. New HTB product launched. New pre-application process
Bluestone RESI NEW - Help to Buy loan scheme (2021-2023)
Chorley BS RESI NEW - Help to Buy remortgage product
Clydesdale RESI NEW - reduced valuation fees & service commitment
Dudley RESI NEW - 2 yr fixed rate local community product (restricted postcodes)
Fleet BTL NEW - criteria re-introducing max loan size of £2m & min ownership time of BTLs, HMO or MUB
Foundation BTL, RESI NEW - now accepting no search indemnity insurance
Halifax RESI NEW - bespoke products for product transfer and further advance applications
Hodge RESI INCREASES - across selected 50+ and Holiday Let mortgages
Landbay BTL NEW - 80% LTV fixed rate products
Leeds RESI NEW - Right to Buy range
Masthaven RESI CHANGES - withdrawn selected first charge residential products and increased rates on 2 year fixed ranges
Melton BTL, RESI CHANGES - New advance self build product & fixed rate products. Withdrawing holiday BTL product
Natwest RESI NEW - 90% LTV products launched
Nottingham BTL, RESI REDUCED - rates on selected products
Precise BTL, RESI REDUCED - packaging requirements
Platform BTL, RESI CHANGES - relaunch of product ranges with extended end dates
Principality BTL, RESI CHANGES - reduced rates for 65% & 75% LTV ranges. FTB and JBSP 85% LTV ranges introduced. Changes to rates across all BTL and Holiday let products. Holiday let products now fee free.
Santander BTL, RESI CHANGES - selected new business residential, BTL products & product transfers reduced. End dates extended
Skipton BS RESI NEW - launched fixed rates for Scottish First Home Fund Scheme
Tipton RESI NEW - 3 & 5 yr fixed rate products at 85% LTV
TMW BTL INCREASING - selected 2 & 5 yr fixed rated at 75% LTV
TSB BTL, RESI WITHDRAWN - selected BTL & residential products on higher LTV product ranges
Virgin RESI NEW - service commitment

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