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MORTGAGE SYSTEM MAINTENANCE
To help you plan, we want to let you know that our mortgage platform is being enhanced from 5.30pm on Thursday 13th July to 9am on Tuesday 18th July.
So what does this mean?
While we work on delivering these significant improvements, there will be no access to the platform to either view case updates, upload documents or submit either a new or progress an existing mortgage application.
Got a case to discuss?
Get in touch with your local Business Development Manager; they would love to hear from you. Find your nearest BDM here.
Or call our Broker helpdesk on 020 3427 1019.
Legal & General
Closing our agency phone line
Our agency phone line (0370 900 5010) will close for to up four weeks, from Monday 17 July
Why are we closing our line?
To continue to offer you the best service and support across all product types, we are taking this time to train and implement a brand-new team. Once they’re up and running, they’ll help you with:
- Any Protection, Mortgage Club, Annuity or Pension commission or fee-related questions
- Any agency set ups or changes, including novation and mergers
- Any commission statement issues
How can you reach us while our line’s closed?
You can:
- Email us on agency.enquiries@landg.com
- Call your local sales and service team – who can help you with:
- protection product info
- training and proposition questions
- basic commission details
CARE CONCIERGE
Care Concierge is designed for customers who are in need of support when it comes to navigating the UK Care system, this could be because they have elderly relatives who are becoming less independent or loved ones who are facing a disability or degenerative condition. We are adding this service onto our retail protection products to support our customers who may be in this position now or in the future, this service is suitable for the overall Target Market for each of our products. Adding this service does not alter the target market of any of our products nor does it change the fair value assessment of our products.
This service can be used by the life assured and their family, including their partner, children and parents. For more information click here.
LendInvest
backs Buy-to-Let market with bold reductions
London, 11 July 2023 – LendInvest, the UK’s leading platform for mortgages, has today launched a new, market-leading Buy-to-Let range as it looks to back landlords in this challenging market.
LendInvest is supporting landlords to get back into the market with rates starting from 5.54%, funded through its new £500 million partnership with Chetwood Financial Limited, announced this week.
This new range promises bold reductions across Buy-to-Let, with a 40bps drop on its tracker products to complement its new, wider and reduced fixed-rate products.
Supporting up to 75% LTV, the new rates will be powered by a market-leading technology platform which their team of experts have spent the last 6 months improving with new features, to deliver faster mortgages for brokers and their clients.
Access the new updated product range on site here.
Sophie Mitchell-Charman, Commercial Director at LendInvest, said: “This new range is about us meeting the ambition our brokers and customers tell us they have but the market is not meeting. We hope that this shows confidence in the market that empowers landlords to go and meet the record high rental demand that is out there.
“Our Buy-to-Let team has been working hard on this new range to ensure everything is ready from an operational point of view to make every enquiry, application and offer simple, and we look forward to seeing that come to fruition.”
More2life
reviewing later life lending in H1 2023
As the Bank of England base rate reaches a new peak not seen for 15 years, what are the mechanics at play behind the current rate turmoil and what does the future hold for later life lending?
more2life’s Roland Steere takes a look at the market trends for the second quarter of 2023 in the latest more2life Market Update.
The Mortgage Lender
14% of first-time buyers pause plans as they factor in additional costs
A lack of awareness over additional costs and fees associated with buying a property is leading to some prospective homebuyers being ill prepared to buy. New research from The Mortgage Lender (TML), found that 24% of UK homeowners didn’t realise that they may have to pay stamp duty before buying their first home, with a further 21% saying they didn’t consider these costs in their budget.
Other payments that homeowners revealed they didn’t factor into their budget when buying their first home include solicitor’s fees, valuation fees, surveyor’s fees, and the cost of a homebuyer survey.
Worryingly, a number of homeowners revealed they weren’t even aware that costs such as electronic transfer fees, indemnity insurance, and mortgage advice fees even existed.
Leeds Building Society
New Limited Company Buy to Let
Leeds Building Society’s new Limited Company Buy to Let option has arrived!
It offers:
Flexibility and choice
- Up to 4 directors and shareholders can be named on the application
- Non-director shareholders accepted
- Up to 80% LTV
- Newly established SPVs accepted
(Terms and Conditions apply)
Easy admin
- A purpose-built application platform
- End-to-end case tracking for easier case progression
Five-Star service
- Dedicated BDM support and award-winning* Five-Star service
- Access to a specialist team of underwriters after an application has been submitted
- A dedicated solicitor panel with full coverage across England, Wales and Scotland (product not available for properties or companies registered in NI)
As a successful High Street lender, Leeds Building Society bring over 30 years’ experience in Buy to Let lending, so you can expect first class service.
To place business on the bespoke application platform, Mortgage Extra, brokers will need to register.
*We were given a 5 Star rating in the 2022 Financial Adviser Service Awards.
Halifax Intermediaries
Important update regarding PT and FA’s
Changes to our product range
On Monday 17 July, we’re making the following changes to our product range.
Remortgage products including Large Loans and equivalent Green Home products
Rate increases on selected 2 year fixed rate remortgage products
Product Transfers and Further Advances
Rate increases on selected products
We are now pricing our Product Transfer (PT) and Further Advance (FA) rates dynamically to provide brokers and their clients with our most up to date PT/FA rates. This will better reflect the current market, while providing the consistent and high-quality service that brokers trust us to deliver.
This will mean we will now give you notice of PT/FA rate movements, and you will be able to view the new products available for a specific customer by logging into Halifax Intermediaries Online on the day they become available.
Santander for Intermediaries
We’ve launched a new LinkedIn page
We’re delighted to announce the launch of our new SFI LinkedIn page.
The page provides another platform for us to tell you about our rate changes, service position and why you should choose Santander for Intermediaries for your mortgage business.
Follow our page to stay up-to-date and connect with our passionate team.
Impact Specialist Finance
Exclusive 1-Year Residential Rate via Impact Packaging!
Discover the advantages of the exclusive 1-year residential rate provided by Vida Homeloans. This limited product is designed for borrowers with loan sizes ranging from £50k to £1m, offering a competitive rate and a maximum loan-to-value of 85%.
Highlights:
- Maximum loan-to-value (LTV) 85%
- Available on Vida credit tier 6
- Minimum loan size £50k, Maximum loan size £1m
- Early Repayment Charge (ERC) £0
- Impact pays a 0.50% proc fee for Vida Homeloans residential cases
Download Vida’s exclusive product guide
Take a closer look at Vida’s Residential Exclusive 1 year product guide to find a solution for your residential cases.
Have a case you would like to discuss? Call the impact team now on 01403 272625
Mansfield Building Society
Versatile lending can smooth the way for landlords and empower tenants
Selling up for a landlord can be an involved process. Not only will they potentially have to evict the tenant – which can be painful if they have been a quality tenant over a long period – but they then have to go through the rigmarole of selling on the open market. This can be a big unknown – while some properties will sell quickly, and at around the asking price, others may be left on the market for a while.
Even those that do attract interest quickly may still suffer from a prolonged sale as a result of vendors being reliant on a lengthy housing chain.
