Product Blast w/e 27 Nov

By Sally Miles / 26th November 2020 26th November 2020 / Product Updates

Update Overview

Some nice new products this week as we see Bluestone and Halifax launch new 85% LTV products . Many lenders continue to amend criteria especially around self employed income and lending into retirement/later life lending. Nationwide have announced the launch of further advance products from the beginning of December for intermediaries.

This Week's Updates

LENDER	TYPE	DETAIL	MORE
Bluestone	RESI	NEW - 80% & 85% LTV products
BM Solutions	BTL	INCREASES - across product ranges
Chorley BS	BTL	NEW - BTL 2 yr discount product & FTL product at 75% LTV
Clydesdale	RESI	CHANGES - new loan to income cap for residential mortgages. New products added and amendments made across product ranges.
Halifax	RESI	CHANGES - new FTB 85% LTV products which include new build & shared equity/ownership. End dates extended across products ranges.
Hinckley & Rugby	RESI	CHANGES - criteria for lifestyle debt consolidation
HTB	BTL	NEW - 5 yr fixed for large loans
Ipswich BS	RESI	WITHDRAWN - 75% LTV later life product
Kensington	RESI	WITHDRAWN - HTB products and all 5 year residential products
Kent Reliance	BTL	CHANGES - updated valuation fee scale for BTL
Leeds	BTL, RESI	CHANGES - selected residential products reduced. New fixed rates launched for residential, interest only, BTL and HTB
Lendinvest	BTL	NEW - reduced rate products across range
Melton	BTL, RESI	CHANGES - new and withdrawn rates across product ranges for both Melton and MBS Lending
Nationwide	RESI	CHANGES - New from 1st December further advance range available for intermediaries. Reduced rates across selected products
Natwest	BTL, RESI	CHANGES - withdrawn lending into retirement. Policy updates for BTL & Interest Only. Changes to assessment of affordability for self employed. Reductions & introduction of free valuations for BTL product range. Rates changes across residential range.
Newcastle	RESI	CHANGES - withdrawal of 2 yr 85% LTV products. Refreshing 80% LTV products. Reduction of SVR rate
Nottingham	BTL, RESI	CHANGES - reduction of rates on selected products. Withdrawal of 5 yr fixed rate at 75% LTV
Platform	BTL, RESI	NEW - 2 yr fixed rate new business products
Principality	BTL	CHANGES - rate amendments across BTL & Holiday Let products ranges
Saffron	BTL, RESI	CHANGES - some new products due to be launched 2nd December. Criteria changes for self employed & contractors. Some product withdrawals across product range
Santander	RESI	CHANGES - new 2 yr & 5yr fixed 70% LTV products. Amendments to evidence requirements for self employed
Scottish Widows	RESI	CHANGES - valuation fees for further advances
Skipton BS	BTL, RESI	NEW - base rate tracker products
Tipton	BTL, RESI	CHANGES - extended end dates for retirement interest only and later life products. Withdrawn BTL Ltd Co products
TSB	RESI	CHANGES - criteria amendments to income multiples & self employed. Extended end dates for BTL & product transfers. Rate increases to 2 yr, 5 yr & 10 yr fixed rates. New 85-90% LTV FTB product
Vida	BTL, RESI	CHANGES - withdrawal of HTB, Home Fund, RTB and 80% LTV BTL products. Min loan size increased.
Virgin	RESI	REDUCTION - on selected products
Zephyr	BTL, RESI	CHANGES - reversion rate switched from LIBOR to BOE rate

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