Brilliant Solutions

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The office will re-open at 9am on Tuesday 20th September.

Product Blast w/e 29 October 2021

By / 4th November 2021 / Product Updates

Product Blast sponsored by Precise Mortgages

Update Overview

This week we can see several lenders beginning to increase their rates slightly. Lenders are attempting to make the market more accessible in other ways, such as Bath Building Society reintroducing their Rent A Room range and Hinckley & Rugby introducing new JBSP products which tie in nicely with their existing Tailored Term element. Metro Bank are updating their Second Home products, whilst the likes of TSB, Scottish Widows and Paragon Banking Group PLC are focusing on New Build and Green products.

This Week's Updates

LENDER TYPE DETAIL MORE
Accord BTL, RESI CHANGES - rates reduced & a new BTL Product Transfer range launched. Improvements to Residential Interest Only criteria
Aviva RESI CHANGES - fixed ERC’s launched on lifetime mortgages
Barclays BTL, RESI CHANGES - rate increases across existing Residential, BTL & Reward ranges. End dates extended on all fixed rate products
Bath RESI NEW - Rent A Room mortgage range introduced
Bluestone BTL, RESI CHANGES - rate alterations made to select products
Fleet BTL CHANGES - new products with lower rates launched. Price reductions & products simplified across several ranges. Withdrawn 80% LTV products & increased the max LTV on Lifetime Tracker products from 60% to 65%
Halifax RESI WITHDRAWALS - selected products withdrawn without replacement
Hodge BTL, RESI REDUCTIONS - in rates across 50+, RIO & HBTL product ranges
H&R RESI NEW - launched new JBSP products
HSBC RESI CHANGES - select rate changes across Residential range for New Business & Retention
Just RESI INCREASES - to interest rates on J6 LTV series
Leeds RESI WITHDRAWALS - Residential 2 and 5 year fixed rates at 65% and 75% LTVs withdrawn
Melton RESI WITHDRAWALS - 4 help to buy product withdrawn
Metro RESI CHANGES - criteria updated for second home products
Nationwide RESI CHANGES - select rate changes across Home Purchase, Existing Customer Moving Home, Switcher & Further Advance ranges
Natwest RESI CHANGES - rate increases to both New & Existing customer ranges, withdrawal of 8 Switcher products
Newcastle RESI CHANGES - 80% LTV Residential, BTL & Interest Only products refreshed
Nottingham RESI CHANGES - launched 7 product rate changes & removed an additional 6 products
Paragon RESI CHANGES - introduced 80% LTV products & a new Green product for every Standard product. Refreshed Portfolio range so the same rates are available for Single Self-Contained Properties, HMOs & Multi-Unit Blocks. Updated max loan policy
Precise RESI CHANGES - bridging criteria expanded
Principality RESI CHANGES - refreshed rates & end dates across range. Introduced stepped rates to 2 & 3 yr Residential mortgage products
Saffron BTL, RESI CHANGES - new remortgage products launched. BTL, Expat BTL & Limited Co BTL end dates extended
Santander BTL, RESI CHANGES - withdrawn selected products, updated rates on selected products & extended all end dates
Scottish Widows RESI CHANGES - refreshed Home Mover, First Time Buyer & Remortgage ranges with new end dates
Skipton RESI CHANGES - amendments made to Residential maximum LTV policy
Tipton RESI CHANGES - a number of criteria alterations made
TML BTL CHANGES - a number of criteria alterations made & 2 products changed
TSB RESI CHANGES - rates lowered on new build properties for HTB, Shared Equity & Shared Ownership. Selected products withdrawn. New Green Shared Ownership & Green Shared Equity products launched only for New Build
Vida BTL WITHDRAWALS - 4 Buy to Let Limited Edition products withdrawn
Virgin RESI CHANGES - withdrawals & rate increases across Exclusive, Core & Product Transfer ranges. Increased New-Build max LTVs, simplified bonus policy & increased max term at 95% LTV
West One BTL CHANGES - moved from LIBOR to Bank Base Rate tracked reversion rates & new BBR floor set
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