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LATEST PARTNER BLOGS:
FLEET
Looking Ahead At The BTL Market In 2023
KEYSTONE
Multi-Title Split For Portfolio Landlord
GUARDIAN
It’s Time To Get On The Front Foot
FCA
‘LIVE & LOCAL’ EVENTS
The FCA recently announced their ‘Live and Local’ events dates and locations.
Whilst there’s a charge for all firms, Consumer Duty will be a topic of conversation and it’s your chance to hear what the regulator has to say.
Presented by Gordon Findlay and Mark Goold, these two-hour events are designed to help small and medium sized firms understand:
- The background to, and key elements of, the Consumer Duty
- The areas firms should consider to ensure they are meeting the new requirements
- How the Consumer Duty applies proportionately
- Our supervisory approach to the implementation of the Consumer Duty
Impact Specialist Finance
Do you have clients with complex incomes and less-than-perfect credit?
The Mortgage Lender’s Lumi range is a packager exclusive available now through Impact Packaging. The residential range is available up to 75% loan to value, and caters for customers with defaults, CCJs, and mortgage arrears. Compared to TML’s core range, it offers enhanced credit criteria for unsecured arrears, bankruptcy, and payday loans.
Criteria:
- Unsecured Arrears: Maximum 2 missed payments in last 6 months with most
recent paid on all unsecured credit - Secured Arrears: 2 in 24 months, (0 missed in last 12 months)
- CCJ Number: 3 in 36 months (2 in 24), 0 in 6 months
- Defaults: 4 in 36 months (2 in 24), 0 in 6 months
- Bankruptcy: 36 – 72 months (clean 36)
- IVA: 36 – 72 months (clean 36)
- Repossession: 6 years
- Debt Management Plan: Acceptable (negotiated payment)
- Payday loans: Current/recent loans considered. Maximum one applicant
can have a Payday loan in last 12 months
TML’s latest Lumi product guide
Take a closer look at the Lumi Packager Exclusive Product Guide available now through Impact Packaging.
Have a case you would like to discuss? Call the impact packaging team now on 01403 272625
Mansfield Building Society
Versatile approach essential to help clients looking to consolidate debts
It’s been a difficult couple of years for the nation’s finances. The pandemic put many households under enormous pressure, as they were forced to deal with reduced working hours and furlough incomes, and that has been followed by the cost of living crisis.
Inflation has hit its highest level in four decades, with the cost of virtually everything on the rise.
Little wonder then that many households have taken on more debt in order to make ends meet.
Principality Building Society
Exclusive product launch
We are pleased to announce Principality have launched two new exclusive products for TMA Mortgage Club members!
These are 2 year fixed rate products (available for purchase and remortgage clients).
Both products have free valuation and legal fees – please see the full product criteria here.
Tandem Bank
launch into Residential Purchase
With effect from Monday the 6th February, Tandem Specialist Mortgages will launch Residential Purchase products to complement the successful Residential Remortgage range currently available.
The purchase proposition will mirror the remortgage criteria in many ways, some of our key features are listed below:
- Fair View Credit Assessment – we only assess client’s most recent 22 months credit history for product terms
- CCJs/defaults under £750 ignored
- Maximum LTV 90% (including Debt Consolidation)
- 90% LTV for purchases including First Time Buyers
- Day 1 Discharged from Bankruptcy / IVA accepted at up to 85% LTV
- Latest years’ figures used for self-employed customers, potentially including retained profits for Ltd Co Directors
- Free Lender Only Legals – challenging current market approach by streamlining the legal process (Remortgage only)
- No upfront Booking Fees / Free Valuations up to £700k (Remortgage only)
- Acceptable deposit sources include Family gifted Equity, Family gifted deposit, as well as a Personal Loan
Please click here to access our website where you can find our product and criteria guides, as well as information on how to register with Tandem.
Aldermore
Self employed focus on affordability
Affordability is stretched this year and that’s particularly problematic for self-employed borrowers. It’s never been harder for some self-employed borrowers to get the numbers to stack up when they apply for a mortgage.
Affordability is stretched across the board as a result of higher mortgage rates. Plus the cost of living crisis is hitting household finances hard, meaning that disposable income is being squeezed.
But those who work for themselves have extra hurdles to overcome.
Self-employed challenges
You’re well aware of the challenges faced by self-employed clients, alongside the fact that not all will have a problem accessing a mortgage on the high street.
Providing evidence of income (SA302s or tax year overviews) for the previous two or three years will be straightforward for some self-employed borrowers.
But many have non-standard or complex income, which mainstream lenders can’t or won’t consider. Plus, there can be valid reasons why your clients find it difficult to prove their income, despite being an overall good lending risk.
Legal & General
Your Partner First Service Team
You now have access to your dedicated Partner First Service Team, who you can speak to about your Legal & General protection business, including new and existing business.
Key benefits include:
- Average turnaround time reduced by half
- Lower NTU rates, resulting in more people protected
- GP welcome calls on day 5 to speed up the process
Find your team – You have a dedicated telephone line, prioritised webchat access and a mailbox providing a quicker and more convenient way to talk to us.
Lendinvest
The growing demand for regulated bridging
After a record January of demand for our regulated bridging products, BDM Victoria Barnard takes a look at the market factors driving demand.
Here are the ways we will see regulated bridging be needed more and more this year:
- Chain breaks
- An alternative to higher long-term rates
- Flexible uses
Find out more here – See our full bridging range, get instant quotes and apply online for terms in minutes.
Precise Mortgages
Introducing a BTL Hub portfolio submission platform
Precise Mortgages new BTL Hub portfolio submission platform has been designed to make it easier for you to submit your portfolio landlord cases (those who have four or more buy to let mortgaged properties).
One of the platform’s main benefits is it gives you the ability to upload multiple properties in a portfolio at the same time, to be assessed as part of a single application. Plus, the property schedule is valid for 12 months as long as there are no changes to the portfolio.
If you need any support with the BTL Hub our team is here to guide you through the process, and if the portfolio schedule is included with the submission we can even upload to the BTL Hub for you.
Please note, all new portfolio applications must be submitted using the BTL Hub. If you’ve already registered with the BTL Hub with a different lender, you won’t need to register again. Simply login, click ‘lender’ in the side navigation, find ‘Precise’ in the lender list and then select the arrow button to send a link request to us.
If you’d like to know more about how we could help you with your portfolio cases, give us a call on 0800 116 4385 or go online and use Live Chat.