Product Blast w/e 25 Sep

Lender criteria changes and restrictions on applications with furloughed income . New products launches along with product increases and reductions.

LENDER	CHANGE	DETAIL
Accord	CHANGES	Increases, reductions and extended end dates
Family	CHANGES	Cashback options added to product range
Halifax	CLOSED	No longer accepting applicants on Furlough. Returned clients payslips must show income
Kent Reliance	NEW	New BTL and Residential products including shared ownership
Natwest	INCREASES	Rate increases on 2 & 5 yr products. New purchase exclusive products
Newcastle	NEW	New 80% 2 & 5 yr products
Nottingham	WITHDRAWAL	Withdrawn Residential, RIO, Self Build, BTL & Commercial products
Mansfield BS	WITHDRAWN	Withdrawn 2 yr fixed Shared Ownership Product
Metro Bank	NEW	90% 5 yr fixed rates for residential
Pepper	CHANGES	Criteria relaxed
Platform	CHANGES	HTB products withdrawn. Mainstream products reduced & increased across range
Precise	NEW	New HTB remortgage products
Royal Bank of Scotland	NEW	Updated residential product range with new rates
Saffron	NEW	Return of Expat BTL and BTL products
Scottish Widows	CHANGES	Furloughed customers must be back in work prior to application. Increased on HMV & FTB rates
Skipton	CHANGES	Increases, withdrawals, new rates and extended fixed rates across product ranges
TSB	WITHDRAWN	Withdrawn 75-85% LTV Shared Equity purchase and remortgage products
Vida	CHANGES	Changes to lenders product range
Virgin	REDUCTIONS	Reducing rates and relaunching products

Text summary to be inserted.

LENDER	CHANGE	DETAIL
Kent Reliance	REDUCTIONS	Rate reductions and changes to ERCs and fees too.
Landbay	REDUCTIONS	Rates reduced to under 3% on BTL.
Nottingham	CLOSED	Closed for new business.
Pepper	REDUCTIONS	Rates reduced and criteria relaxed.
Platform	WITHDRAWN	BTL range withdrawn.
Precise	REDUCTIONS	Rates reduced.
Saffron	NEW	Return of Ex-PAT & BTL Products.
Santander	CHANGES	Changes to acceptable income for min BTL Income.
Skipton	INCREASES	BTL Rate Increases on Retention deals.
Vida	CHANGES	Repriced range across all BTLs, including 85% HMOs and MUBs.

LENDER	CHANGE	TYPE	DETAIL	MORE
UTB	NEW	Secured Loan	Improved unsecured credit criteria
Shawbrook	NEW	Secured Loans	85% LTV for employed and self-employed

This sector sees little in the way of genuine product rate changes and updates. Contact us for further information.

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Sam Clarke
26th September 2020 at 9:38 am

Well done Matt / Michael, the weekly product blast is so much easier for us to keep up with the many lender changes we face each week!

1. Matthew Arena
  28th September 2020 at 7:04 pm
  
  Thanks Sam, much appreciated. It’s quite an effort to produce and really glad it is worthwhile.