WEBINARS ON DEMAND:
ROYAL LONDON
Business Health Check
LEEDS BUILDING SOCIETY
Shared Ownership
ROYAL LONDON
Business Protection
LATEST PARTNER BLOGS:
InterBay
Shorter days and smaller BTL properties
Guardian
Round up of 2022 and what 2023 might hold
Kent Reliance
Self-employed client struggling to find a residential mortgage?
CHRISTMAS COMMISSION RUNS...
Just to make you aware the office is closed on Monday 26th – Tuesday 27th of December and Monday 2nd of January, so commission runs on these dates will not take place.
Commission Run:
- Friday 23rd December, this will reach your account on Thursday 29th December
- Wednesday 28th December, this will reach your account on Friday 30th of December
- Thursday 29th December, this will reach your account on Tuesday 3rd of January
- Friday 30th December, this will reach your account on Wednesday 4th of January
Normal commission runs will start again Tuesday 3rd of January.
The final date for express claim requests is Thursday 22nd December. We will endeavor to process any forms received on 24th December.
The industry vote is in full swing so if you haven’t yet voted, there’s still plenty of time!
Whether a broker, lender, provider, distributor or mortgage administrator, vote for your favourite to give them a chance to win at the 2023 Mortgage Strategy Awards in partnership with Barclays.
We would really appreciate it, if you could take a few moments to vote for TMA Club in the ‘Best Mortgage Club‘ category in this year’s Mortgage Strategy Awards 2023. Voting will close at midnight on Wednesday 11 January.
KENSINGTON
Reflecting on 2022
As we look back at this year, it’s certainly been one to remember, with record inflation, a cost-of-living crisis, a period of national mourning for a much-loved Monarch, and the revolving door at No. 10 Downing Street.
Read on to see how Kensington have provided an excellent service and remained focused.
KEY PARTNERSHIPS
The future looks bright for the referral market
Our latest research highlights that 41% of introducers are expecting the equity release side of their business to expand over the next 3 years.
With Consumer Duty legislation on the horizon, now’s the time to consider how you can make sure your clients get the advice that’s right for their needs. Building a strong referral relationship with Key Partnerships can strengthen your service offering for your clients while adding an additional income stream.
Read the full research in our Introducing the Introducers report.
Key findings from the analysis:
- 41% of introducers believe that the equity release referral part of their business will grow over the next three years
- 30% of introducers form referral partnerships driven by interest from their clients
- Customers referred by a mortgage broker released more than the wider market average, releasing an average of £147,793
Referring to Key Partnerships is really simple. All we need is your clients age, name and contact details and we’ll find out if equity release is right for your clients while keeping you updated every step of the way.
Join those who are supporting their clients with specialist equity release advice and refer today. Our average referral fee in 2021 was £1,988 for every completed case – Refer now
IMPACT SPECIALIST FINANCE
New 85% LTV ExPat Semi-Exclusive available through Impact Packaging
For UK citizens living abroad, the Dudley Building Society is now offering a Semi-Exclusive ExPat Mortgage. Whether they are purchasing a UK property to let out for rental income or buying a residential property with the option of returning to the UK in the short to medium term, Dudley BS can help.
Product Highlights:
- Available for Purchase and Remortgage
- Minimum/Maximum loan: £25,000/£1,500,000
- Maximum LTV 85% (including arrangement fee)
- Arrangement Fee £750, Application Fee £125
- Early Repayment Charge (ERC): 1% in the first year, 0.5% years two and three
- Overpayments: 10% of the advance amount can be repaid per annum for three years without incurring a charge
- Restrictions: This mortgage must be repaid on a capital & interest basis or interest only. Please note that interest only mortgages are capped at 75% LTV.
Download Dudley’s latest product guide
Take a closer look at Dudley’s product guide to find a solution for your ExPat cases..
Have a case you would like to discuss? Call the impact packaging team now on 01403 272625.
BANK OF IRELAND
Your case administrator can help support your clients if you’re away over the Christmas break
If you’re taking time off over the festive period why not give your case administrator access to your cases in our online system, Rome? You can do this by adding them to your Rome profile.
You’ll just need to make sure your case administrators have registered with Bank of Ireland for Intermediaries, then you’ll be able to add them.
If they’re not ‘linked’ to you we won’t be able to discuss any of your cases with them while your away.
Please follow these steps to add your case administrators to your profile:
- Log into your Bank of Ireland for Intermediaries profile
- Scroll down the page to the ‘Case Permissions’ section and click on the V
- Click ‘Add Case Administrator’ – this should open a list of registered administrators that you can add to your profile
- Add the case administrator(s) that you wish to have access and confirm the level of access rights you wish to give. The options are ‘full’ or ‘post submission’
- Save your changes.
If you can’t see the case administrator/administrators you want to link, please contact your BDM. They‘ll check we’ve granted all the necessary permissions for you.
We hope you enjoy a well deserved break over the festive period with your friends and family. We’ll be open as usual, 9am until 5pm on weekdays, just closed for the Bank Holidays (Monday 26th Dec, Tuesday 27th Dec and Mon 2nd Jan).
Season’s greetings and best wishes for the new year.
TSB
Lending and loan to value criteria changes
From Monday 12 December, TSB is making changes to their lending and loan to value criteria.
New Build has been a key focus this year and TSB would like to thank you for your support. With the ending of Help to Buy plus the emergence of new schemes, TSB are temporarily pausing their 90% lending whilst they watch how the market develops. TSB are also updating their lending criteria for self-employed and Buy to Let stress rates to reflect the current market conditions. Support of the New Build sector remains strategically important to TSB and will continue to innovate in this market and keep you updated on their proposition through Q1.
New Build loan to value
- Maximum loan to value for New Build houses and bungalows is reducing from 90% to 85% LTV.
Loan to income for self-employed applicants
- Maximum loan to income multiple for self-employed applicants is reducing from 5.00 times income to 4.49 times income. See table the below for more information.
| Income | LTV | Income Multiple |
| More than £60,000 | <85% |
5.00 times income for employed applicants 4.49 times income for self-employed applicants |
| >85% | 4.49 times income | |
| Less than or equal to £60,000 | <90% | 4.49 times income |
| >90% | 4.25 times income |
Stress rate for background Buy to Let mortgages
- The stress rate for background Buy to Let mortgages, on Residential mortgage applications is increasing from 5.5% to 7.0%.
Brokers will be advised of the changes on Monday 12 December at 11.30am.
Any DIPs or pipeline applications started before 12 December, won’t be impacted by these changes.
For more information please contact your National Account Manager.
LENDINVEST
The importance of lender/broker relationships: what has 2022 taught us about the BTL market?
2022 has placed more emphasis on the strength of broker and lender relationships.
LendInvest’s Corporate Account Manager reviews the year, the challenges, the opportunities, and why building on those relationships in 2023 will be how the Buy-to-Let market can continue to succeed.
Legal & General
The Link magazine December 2022
It’s time for the final issue of The Link in 2022. Because it has been a particularly challenging year, and we recognise that conversations with clients are a central part of your work, our aim is to help equip you with plenty of key discussion points; as well as knowledge about how to access the support available to you and your clients.
Key highlights from this edition
- A 2022 lookback, including an inventory of the support that we’re growing for you and your clients
- Impacts of a significant year upon clients, and how the DQM Programme is adapting
- Key findings from the 2022 Deadline to Breadline report
- An introduction to our new research, The Secrets to Protection Success
- Your invitation to apply for the 2023 Business Quality Awards, by December 20th
Foundation
Popular BTL properties and tenant types
Landlords have always had to carefully assess any property investment and take a huge number of considerations into account to ensure it fits into their portfolio and be a profitable investment in its own right over the medium to longer term.
Over the years, many property types have been ‘in vogue’ for landlords and tenants, meaning it’s always interesting to keep track of the most commonly owned type of rental property at any given time.
Just
Free Energy Performance Certificates (EPCs) for new Just For You Lifetime Mortgage clients
Today, Friday 16th December, Just have teamed up with Vibrant, the UK’s largest property services company to provide our new Just For You Lifetime Mortgage clients with a free Energy Performance Certificate, exclusions apply. Please refer to our FAQs.
