STAMP DUTY HOLIDAY DEADLINE

IT’S TIME TO CELEBRATE HARDWORK & LOYALTY…
The TMA Awards are back – vote now!

You will have seen that we recently announced our TMA Awards are coming back for 2021. Every year we like to celebrate the hard work and loyalty of our member firms, of all shapes and sizes, and we are delighted that this year we will be able to celebrate with some of you in person in November at what promises to be an exciting evening!

As always, our partner award winners are chosen by you, our valued TMA members.

So if you believe you’ve received outstanding support from our partners over the last 12 months that deserves to be recognised with an award, then please do vote for them in the relevant categories. Voting is open until Friday the 13th August at 5pm, so don’t delay, place your votes now:

Vote Now

HOW IS YOUR BUSINESS EMBRACING TECHNOLOGY?

We’d like to better understand where you, our members, need or want support with technology within your business. This is why we have launched the TMA Technology Survey. It only takes 2 minutes to complete, so please help us tailor out support to you and your firm by taking part in the survey here.

MAKE YOUR VIEWS HEARD.

The Association of Mortgage Intermediaries (AMI), Virgin Money and Aldermore have released a new diversity and inclusion survey.

They want to know what you, the Directly Authorised Adviser, thinks of the mortgage industry in terms of inclusivity. Should more be done?  If so, where do we start? AMI want to hear from everyone who works in the intermediary sector. Whether you work on your own or in a small or large firm; you’re new to the industry or a veteran; you’re a broker, an administrator, a manager or a director – please take part today, and then share the survey with your colleagues and make sure that all your views are heard.

The survey will take approximately 15 minutes to complete. Please set aside enough time to complete it – it’s anonymous and not linked to you so it’s not possible to return to it later. Your responses will only be used for research purposes. All information collected will be managed in the strictest confidence and you will not be identifiable.

A report on the findings of the research will be published at the end of September this year. Click here to start the survey now.

NEW BTL SEMI-EXCLUSIVES AVAILABLE

We are delighted to inform you Kent Reliance for Intermediaries have provided TMA members with a brand-new range of semi exclusive Buy To Let products at 85% LTV.

Highlights:

Up to 85% LTV now available
Maximum loan of £3m – more available by BDM referral
Rates from 4.99% on 2-year fixed
Rates from 5.29% on 5-year fixed
Available to individual and Limited Company/LLPs
Products:

2 year fixed, rate 4.99%, max LTV 85%, product code 01678 KBTL2106

5 year fixed, rate 5.29%, max LTV 85%, product code 01679 KBTL2106

Their new semi-exclusive Buy To Let product range, combined with their common-sense approach to lending and flexible underwriting, means you can help your clients with their cases without delay.

Exclusions apply.

View the semi-exclusive products here.

COVENTRY FOR INTERMEDIARIES LAUNCH ‘COVENTRY CATCH-UPS’ WEBINAR SERIES

Join a Coventry catch-up’ webinar with the Fraud Prevention Team.

The aim is to help you protect yourself and your business by showing you how to spot mortgage fraud. In this session, the team will share current trends and give you valuable hints and tips to support you when submitting business.

The webinar will be a maximum of 20 minutes long, so perfect to squeeze in between meetings with a well-deserved cuppa. Cameras and microphones will be off for attendees so you can sit back and relax!

Join the webinar on Thursday 29th July 2021, 10am. Register here. Limited spaces available.

92% OF BROKERS FEEL POSITIVE ABOUT THEIR PROSPECTS THE NEXT YEAR

Masthaven’s latest Broker Beat research found that:

  • This was an increase from 87% at the end of 2020
  • 88% are ‘confident’ or ‘very confident’ about the prospects for the market as a whole
  • Over three quarters (77%) of brokers expect their sales and revenue to increase this year

New research from Masthaven Bank has found that broker confidence has increased since the start of 2021. The survey of 186 brokers found that almost all (92%) were confident about their prospects for the next twelve months. This was an increase in positivity among brokers since the end of 2020, when 87% of respondents described themselves as confident about their company’s prospects.

Over three quarters (77%) of respondents also said they expect their sales and revenue to increase this year, with close to half (42%) predicting their growth this year to be in the double figures. Just 3% expected their sales to decline.

The brokers surveyed also expressed confidence about prospects for the property market as a whole – 88% said they were ‘confident’ or ‘very confident’ about the market’s prospects for the next twelve months. This was a sizeable increase from the 71% who reported the same level of confidence at the end of last year, perhaps reflecting increasing optimism as the country returns to some level of normality.

Rob Barnard, Director of Intermediaries at Masthaven, said:
“Broker confidence has climbed even higher since the start of the year, reflecting the current strength of the property market, as well as general optimism surrounding the UK’s vaccine rollout and the easing of lockdown restrictions. The industry has worked tirelessly to support homebuyers since the start of the pandemic. This hard work, combined with pent-up demand from early 2020 and government support in the form of the Stamp Duty holiday, has resulted in a booming property market – but there are still challenges on the horizon.”

Read the rest of the article here.

ACCESS A FASTER SOLUTION FOR YOUR COMMERCIAL NEEDS

Development Finance is a short-term funding option, usually for between 6-24 months. It is designed specifically to assist with the purchase costs and build costs associated with a residential development project. This can be a new build, conversion or refurbishment covering a single unit through to multiple units built across a number of phases.

Impact Packaging has access to the whole of market for Commercial Mortgages and Business borrowing. They have built strong relationships with mainstream lenders, private lenders and lenders that will take a view on all aspects of an individual case, including limited distribution lenders. Find out more here.

FAMILY ASSIST: MORTGAGES AT 100% LTV WITH SUPPORT FROM A FAMILY MEMBER

Family Assist mortgages allow family members to support a borrower to access a mortgage of 100% of the value of the property. Family members provide collateral security at 20% of the property value, using either cash savings (England and Wales only) or equity in the family member’s home.

The family member providing the security will enter into an Agreement and they’ll most likely need to take independent legal advice. The Agreement is available to download from The Manfield’s website as is their Family Assist Mortgage Guarantor Application Form.

For more information about their products and services, and applying through their online portal, visit mansfieldbs.co.uk/intermediaries.

BARCLAYS: HELPING CLIENTS MOVE ON OR UP THE PROPERTY LADDER

Did you know Barclays joint borrower, sole proprietor policy enables an applicant to benefit from support to meet income and affordability without the other applicant being on the property deeds?

  • Proprietor – Person/s who will be on the deeds of the property
  • Non Proprietor – Person/s who are party to the mortgage but not on the deeds

Key conditions include:

  • Available for purchase and remortgage applications for both Residential and Purchase
  • Available in England, Wales, Scotland and Northern Ireland
  • All proprietors must also be borrowers
  • All non-proprietor borrowers who live (or will live) in the mortgaged property must sign an occupancy form
  • All non-proprietors who are party to the mortgage must take independent legal advice that is evidenced by a solicitor’s letter
  • Where the proprietor has an existing residential property that isn’t being sold, the maximum LTV is 80% (residential only)
  • All other standard LTV limits apply
  • All borrowers must sign the property’s mortgage deeds

Find out more by visiting Barclays online lending criteria here.

NEW ‘LENDING LOWDOWN’ FROM THE MORTGAGE LENDER

Doing business with us shouldn’t be hard work. So we’ve created the lending lowdown – helpful info and advice that highlights how we do business and makes your life easier.
This week, we’re bringing you up to speed with our residential lending criteria on impaired credit.

When it comes to impaired credit, did you know:

We’ll consider applicants with debt management plans, payday loans, CCJs and IVAs.
We’ve got a range of 80% LTV mortgages for bankruptcy/IVA from 36 – 72months old (and up to 75% LTV for applicants with previous bankruptcies and IVAs greater than 72 month old).
We’ll accept the negotiated payment on debt management plans for our affordability calculation.

Find the right residential mortgage. We know people come in all shapes and sizes. So we’ve created a comprehensive range of residential mortgage products open to all. Find out more here.

ENTER INTERBAY COMMERCIAL’S FREE SUMMER HOLIDAY (LET) ESSENTIALS COMPETITION!

To celebrate the arrival of InterBay Commercial’s new Holiday Let infographic, they’ve launched their free Summer Holiday (Let) Essentials competition, giving you the chance to win a bundle that includes a Fortnum & Mason picnic hamper, a £50 One4All voucher and much more – everything you need for a perfect summer!

Enter now – all the information you need can be found here.

TMA UPCOMING EVENTS

Technology HiiT Session: featuring Eligible, iPipeline & Experian
Friday 6th August, 10:00am – 11:00am

Compliance HiiT Session: Vulnerable Customers
Friday 13th August, 10:00am – 11:00am

Protection HiiT Series
Tuesday 21st September, 10:00am – 11:00am

CLICK HERE

QUERY OF THE WEEK

Q – What lenders will do 90% LTV on a flat, the client was self-employed and residing in the UK, but also has an additional income from Switzerland?

Please give our broker support desk a call on 0330 303 0236 for more information.

LATEST BLOGS AVAILABLE

Precise Mortgages
Helping broker’s take on adverse credit during adverse times

Vida Homeloans
Evolving client needs

CLICK HERE