Product Blast w/e 21 January 2022

By Jodie Grief / 20th January 2022 20th January 2022 / Product Updates

Product Blast sponsored by Kent Reliance

Update Overview

This week we see many lenders enhancing their criteria and adding more incentives to their mortgage ranges and products.

This Week's Updates

LENDER	TYPE	DETAIL	MORE
Accord	BTL RESI	NEW - range of ERC free BTL products launched. Will consider lending up to 85% LTV for debt consolidation
Aldermore	BTL RESI	CHANGES - Aldermore Managed Rate (AMR) increased from 4.58% to 4.73%. New reduced rates & incentives introduced
Barclays	BTL	NEW - launch of 2 BTL Green Home Mortgage products
Bath	BTL	CHANGES - Buy for Uni- Max loan increased to £500,000, Min time remaining on course reduced to 1 academic year & requirement to live within a ten mile radius of the University removed
Bluestone	RESI	NEW - free basic valuation or no application fee across all residential remortgage applications introduced
Foundation	BTL	WITHDRAWALS - all current BTL, Limited Company & Owner Occupier products withdrawn
Furness	BTL RESI	NEW - range of high LTV products launched. 2 80% LTV BTL products launched
Gatehouse	BTL RESI	Maximum finance and Finance to Value (FTV) levels amended across all BTL and HPP products
Kensington	BTL RESI	CHANGES - Flexi Fixed for Term range rates updated & 4 new specials products launched
Melton	BTL RESI	CHANGES - launched a 2 yr fixed HBLT product & removed Advance Self-Build offering
Newcastle	RESI	CHANGES - existing Government First Home Scheme products withdrawn and new standalone products launched in replacement. Refresh of Large Loan mortgage products
Norton Home Loans	RESI	CHANGES - Max loan amount £100K, Max LTV to include both lender & broker fees 80% LTV, Repayment Periods, Variable, 1, 3 & 5 Year Fixed Terms & New Product Plan AHLTV
Nottingham	BTL	NEW - 5 BTL products withdrawn & replaced
Santander	BTL RESI	CHANGES - temporarily removed all 60% LTV fixed rate products & increased rates or fees on selected products. Higher LTV rates reduced.
Suffolk	BTL RESI	NEW - will now use share of net profit after tax plus salary for self employed applicants. Improved bank nurse income policy – now take 100% if they have 18 months of history
Together	BRI	CHANGES - Regulated Bridging rate has reduced to 0.59% with a max LTV of 50% and 0.69% with a max LTV of 70%
TSB	RESI	CHANGES - made to stress rates used when calculating affordability. New products launched and select increases & reductions made to rates
West One	BTL	CHANGES - new products launched, several rate reductions made. Leasehold Block exposure increased, Portfolio lending increased & Loan size maximum increased
Zephyr	BTL RESI	REDUCTIONS - in rates across all deals, available for both BTL purchases & re-mortgages

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