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Catch up on the latest news from our partners below.

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In line with FCA guidance, Santander has offered payment holidays of up to 3 months to mortgage customers experiencing financial difficulties due to coronavirus. It’s important to remember that during a payment holiday the mortgage balance increases and the amount of interest paid also increases for the remaining term of their mortgage. The monthly payment then increases to reflect this after the payment holiday has ended.

As these payment holidays come to an end, we continue to provide further support for customers who are still experiencing financial difficulties. If you have a query from one of your clients about a Santander payment holiday, please inform them to deal with us directly as you’re unable to do this for them.

Key information

We send communications to all customers during the last month of their payment holiday as follows:

  • We send a letter to all customers 3-4 weeks before their monthly payment is due to restart
  • In addition, where these details have been provided by the customer, we send either an email or an SMS c30 days before their monthly payment is due to restart
  • The mortgage FAQs on the Santander website advise the customer to await the communication from us
  • The communication contains a unique ‘S’ reference number which gives the customer access to an online support tool located in the ‘If your mortgage payment holiday is ending’ section of the Santander money worries page
  • The customer then follows the simple steps to tell us about their situation, including completing a budget planner in some cases, to find out how we can help them. They also need to have their mortgage account number to hand
  • Please encourage customers to go online and self-serve as our phone lines may be busy

Depending on the customer’s circumstances, the options available may include:

  • Restart their monthly payments in full
  • A self-serve payment holiday extension for up to 3 more months
  • A self-serve partial payment holiday extension for up to 3 more months, whereby the customer makes a partial payment towards their monthly amount
  • One-off or regular overpayments to reduce the balance and the interest charged.
  • For additional support, customers can call 0800 783 9738 (only once they’ve received their payment holiday ending communication from us)

For more information please visit our FAQs on the Santander for Intermediaries website


Leeds Building Society are pleased to announce the reintroduction of their Holiday Let mortgages.

This comes as a welcome return for many, following the opening of the hospitality sector in England on 4th July, and the predicted rise in ‘staycations’ this summer.

Read the full update here.


Key Criteria:

  • New products can be used for Residential Purchase or ”pound for pound” remortgages
  • Maximum property value of £600,000
  • Customers on / or have been recently furloughed are not accepted
  • All loans are subject to a physical valuation
  • Product fee can be added to loan

Read full details here.


Following a review, we will shortly update our Broker Portal to include all types of British nationality. You can find further information on the different types of British nationality here – www.gov.uk/types-of-british-nationality.

Please note, applicants who hold passports showing the following British nationalities and are resident outside of the UK, will be considered as an international resident and will be subject to our international criteria and products, as they do not have an automatic right to reside in the UK:

  • British overseas territories citizen
  • British overseas citizen
  • British subject
  • British national (overseas)
  • British protected person

Please ensure that the nationality selected when completing an application matches what is shown on the applicant’s passport.

The above change will be implemented with effect from tomorrow, 16th July 2020. Please note that all existing cases that have a valid decision in principle will be honoured. Full details of all our products and criteria can be found here.

Thank you for your continued support and patience during these exceptional times. Our teams remain available to deal with your queries via phone and email, details of which can be found here.


One of the most challenging parts of buying a house is saving for a deposit. That’s why we accept gifted deposits as full or part contribution.

Who can gift the deposit?

  • Any relative as defined by the Family Law Act 1996. Including step-parents, step-children, civil partner, former spouse, former civil partner, first cousins and a co-habiting partner.
  • We may accept gifted deposits from outside the UK as long as evidence of a six-month savings trail can be provided, right up until the point the gift is received by the mortgage applicant.
  • This applies to both Residential and Buy to Let purchases.

What don’t we accept?

  • A gifted deposit from a person who is, or will be, a non-borrowing occupier of the property.
  • A gifted deposit from a vendor (which isn’t the same as the discounted family sale/purchase we do accept.

What else do you need to know?

  • Make sure the full details of the source of the deposit are provided on the mortgage application form.
  • We’ll need a completed gifted deposit declaration form prior to completion, which will be sent to the acting solicitor, post-mortgage offer.
  • If the donor wants their capital back when the property is sold then, whilst this is not a ‘gift’, provided they require contractual payments or interest from the borrower, we will consider allowing this to proceed upon agreement of an appropriate second charge in favour of the donor.
  • Our Joint Borrower Sole Proprietor mortgages can work alongside gifted deposits too.

Key information

  • Gifted deposits need to be a gift, not a loan.
  • There may be inheritance tax considerations.
  • Conveyancers will need to make their own checks on the origins of the deposit.


InterBay Commercial are experts in buy to let and semi-commercial cases. With a national BDM team, market knowledge and underwriters who assess each case individually, they could help where others may struggle. Find out more.


Impact Specialist Finance and UTB complete on regulated bridging loan for later life borrowers

Impact Specialist Finance, the specialist mortgage broker and distributor, and United Trust Bank (UTB) have completed on a £450,000 regulated bridging loan for later life borrowers looking to downsize. The loan was expediated with the help of an Automated Valuation Model (AVM).

The regulated bridging loan facility was utilised to help a couple in their 70’s – who were looking to downsize – to secure the purchase of a new residential property after the sale of their existing property stalled.

The purchase price of the new property was £525,000, with the existing property valued at £850,000. The couple were able to finance the new property acquisition through a 12-month regulated bridge with full interest roll up (no payments due and interest paid on redemption) for £450,000, with the balance made up from cash savings.

The case in question is a perfect example of how packagers and lenders can work closely to secure highly complex residential property transactions. It also highlights the value attached to many short-term lending propositions, in terms of their bespoke and flexible funding solutions for borrowers with a wide range of property requirements.

Dale Jannels, Managing Director at Impact Specialist Finance, commented:

“This may not be a huge case in terms of value, but it really does help demonstrate just how quickly funds can be raised in the current climate through tech support and when utilising the ability of lenders such as UTB who have a common-sense approach to underwriting and the ability to tailor its lending to meet borrowers’ individual needs.  This is an increasing scenario in the current climates as chain reliant transactions faulter, due to many unforeseen reasons.”

Mike Walters, Sales Director – Property Intermediaries, United Trust Bank said:

“We’ve built a strong relationship with Impact Specialist Finance and the smooth and successful completion of this case is testament to the hard work put in by both sides. We enjoy working with experienced, professional advisers who understand the versatility of short term finance and are committed to finding the best solutions for their clients.”

To speak to one of our team to find out more, call us on 01403 272625


We’re really excited to let you know that our Rent Protection optional extra, provided by Arc Legal Assistance as part of our 5 Star Defaqto rated Landlords Insurance, will soon be available for new business again!

As part of our preparations, we’re making some changes to the level of cover offered under this optional extra. Existing Landlords Insurance policyholders will move onto new terms and conditions from their next renewal date.

The changes we’re making
To continue to offer a competitive level of cover, we’re making the following changes to the rent protection optional extra:

  • Rent arrears will be payable for a maximum of 6 months
  • We’ll be providing a mediation service as part of the tenant eviction cover
  • Cover for rent arrears after vacant possession is achieved will be removed

Your clients will continue to benefit from:

  • Rent arrears covered up to £2,500 of rent per month, even if the agreed rent is above that amount
  • Up to £100,000 of legal costs, including mediation expenses, defence costs and handling the eviction proceedings
  • A 24/7 legal advice helpline

What advisers need to do
Absolutely nothing! We’ll be providing your clients with all the details they need before their next renewal, with the first group of policyholders receiving their updated policy information from 13 July 2020

Your Paymentshield BDM is here to help
If you’ve a question about our Landlords Insurance, your BDM is on hand. Book a callback now and they’ll call you back at a time that’s convenient for you!


Our reinsurers Swiss Re have released the below publication and asked that we share it with our key stakeholders. If this is something that would be of interest to any of your advisers then please feel free to share it accordingly.

The publication provides timely analysis on soMe of the toughest questions around COVID mortality and a full picture of recent facts and insights on issues including:

  • The true excess mortality
  • How much reduced deaths from lockdowns will offset COVID mortality
  • The impact on life insurance portfolios

The document can also be obtained online here whilst a full collection of their COVID related content can be found at swissre.com/coronavirus.