Brilliant Solutions

Product Blast w/e 28 January 2022

Update Overview

This week we see the continuation of lenders enhancing their criteria and product offering. Foundation are now lending in Scotland and Optimum Credit has rebranded to be Pepper Money. We can also see a few lenders withdrawing and replacing entire product ranges.

This Week's Updates

Accord BTL CHANGES - withdrawal & replacement of current product range & 3 new products introduced
Aldermore BTL NEW - launch of new product switch rates
Barclays RESI INCREASES - to select rates across the Resi range
Clydesdale RESI CHANGES - reduced the documentation required to support self employed applications
Coventry BTL REDUCTIONS - select BTL and Portfolio rates reduced
Foundation BTL RESI CHANGES - Now lending in Scotland. Full reprice of both BTL & Resi core ranges that includes improved rates & competitive product features
Kensington RESI CHANGES - 70% LTV rates available on Resi 6 & Core Residential ranges
Kent Reliance BTL CHANGES - withdrawal of current BTL range & launch of new product range in its place with a highlight being of no maximum loan size up to 85% LTV & many other features
Leeds BTL RESI CHANGES - New Resi 10 yr fee-free fixed products launched, select resi rate reduced, Re-introduction of 5 yr 60% BTL & portfolio BTL products
Metro BTL CHANGES - 5 yr fixed stress rate 3.5% @ 140% of the mortgage interest amount, Top Slicing available on the background portfolio, No minimum income, Max of 5 properties with Metro Bank & 10 properties in total & Flexible background portfolio assessment
Nationwide RESI WITHDRAWALS - of all £1,499 fee products
Norton RESI NEW - Secured Loan Product Launch
Nottingham BTL REDUCTIONS - in rates on 4 Limited Company BTL products
Optimum BTL CHANGES - Optimum Credit has rebranded to be Pepper Money. Will now only look to carry out a job check on applications which fit a certain criteria
Precise BTL CHANGES - new and improved refurbishment BTL let calculator
TSB RESI CHANGES - new products launched, rates reduced & increased on select products
Vida BTL RESI CHANGES - BTL Ltd Edition products withdrawn. Max LTV 90% on Resi houses, flats & new builds. New range for Key Workers, Fee Saver option for Resi & BTL, return of Help to Buy products & Flex option for 5 yr Resi & BTL products. BTL max LTV 85%, SPVs considered across whole BTL range, No min income on self-funding properties & Expat products available for landlords in selected worldwide & EEA locations
Virgin RESI NEW - Core 7, 10 & 15 yr deals with £1,000 cashback

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