Brilliant Solutions

Product Blast w/e 22 Jan

Update Overview

In the main positive news this week.  A lot of new products being launched with higher LTV’s and reduced rates.  Some lenders have made amendments to improve income and affordability calculators. 

This Week's Updates

Accord BTL, RESI NEW - Launch of 3 yr fixed rate products up to 90% LTV. New fee -free products added to range.
Barclays RESI CHANGES - rates reductions across 60%, 75% & 85% LTV products and launch of 90% LTV 2 yr fixed products
BM Solutions BTL CHANGES - relaunch of selected 2 & 5 yr fixed rates at 60% & 75% LTV. Reductions on some rates
Buckinghamshire BTL, RESI WITHDRAWN - number of products from residential & BTL ranges
Chorley BS RESI NEW - launch of 2 yr discount rate at 85% LTV
Clydesdale RESI CHANGES - to criteria for variable income. New products added to 85% LTV range
Coventry RESI CHANGES - product closures & relaunch of 90% LTV residential range
Dudley RESI CHANGES - improved criteria for self build & holiday lets
Fleet BTL NEW - full product refresh
Foundation BTL, RESI CHANGES - product reprice across all ranges
Furness RESI NEW - launch of new 70% - 90% LTV fixed rates
Halifax RESI CHANGES -reductions to rates to residential and affordable housing products. Introduction of no fee products across homemover, FTB, shared ownership & shared equity products
HTB BTL, RESI WITHDRAWAL - of new applications requiring completion before the stamp duty deadline
Ipswich BS BTL, RESI CHANGES - to criteria to accept properties with annexes, flats above commercial and more. Also to enhance affordability, allow increase in % shift allowance, retired director income & BTL rental profit
Leeds BTL, RESI CHANGES - relaunch for 90% LTV residential range. Selection of rates from BTL and residential range have been withdrawn. Increase in max LTV for new builds flats to 80% LTV and houses 85% LTV
Metro RESI CHANGES - relaunch of 80% LTV for customers on furlough. Enhancements to contractor & fixed term contracts policy.
More2Life ER CHANGES - to rates across selected products ranges
Nationwide RESI REDUCTION - to selected mortgages rates & switcher products
Natwest BTL, RESI CHANGES - to foreign nationals policy
Newcastle BTL, RESI CHANGES - reductions in rates on 85% LTV residential products. Product refresh on BTL range
Nottingham RESI NEW - Residential 5 yr fixed products launched. Launching new RIO products
Platform BTL, RESI WITHDRAWN - all new business BTL & residential mainstream products
Pure Retirement ER REDUCTIONS - across Sovereign, Heritage and Freedom 40 ranges
Saffron BS BTL CHANGES - restrictions added to Expat BTL product range
Santander BTL, RESI CHANGES - to accountants certificate & self employed evidence requirements. Reduction in LTV to 60% for self employed applications
Scottish Widows RESI CHANGES - to rates across product transfer and further advance ranges
Shawbrook BTL, RESI CHANGES - to max loan size for second charge products
Skipton BS BTL, RESI NEW - Help to buy (England) products & new 85% LTV products
Tipton RESI NEW - reduced min loan size of £100k
TML BTL CHANGES - new max loan size for first time landlords. Increase in rate for 5 yr fixed at 75% LTV. Launch of new mini MUB product
TSB BTL, RESI CHANGES - overseas clients no longer able to complete rate switch applications. Changes and withdrawal of rates on residential products
Virgin BTL, RESI CHANGES - variable income now accepted. Increases to selected rates. New 90% FTB 2 yr fixed rates.
West Bromwich RESI NEW - retention products for assisted and help to buy ranges. Launched a 2 yr fixed modified affordability remortgage product

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