Brilliant Solutions

Mortgage Product Update

Product Blast w/e 27 Nov

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

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Ipswich BS RESI WITHDRAWN - 75% LTV later life product
Kensington RESI WITHDRAWN - HTB products and all 5 year residential products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Melton BTL, RESI CHANGES - new and withdrawn rates across product ranges for both Melton and MBS Lending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Natwest BTL, RESI CHANGES - withdrawn lending into retirement.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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