Inform 24th March 2023

LendInvest

Simple residential mortgages for complex customers

LendInvest is delighted to launch its new range of residential mortgage products to Dynamo members.

Supporting your homebuyer customers who may not be supported by the high street, their range includes stretched LTIs up to 6.49x, LTVs up to 90% and flexible credit tiers.

Whether your client has multiple income streams, has had their credit history impacted over the past few years or work on zero-hours contracts, their range is broad enough to support you.

Get a full overview of who their mortgages are for and how they can make your job simpler by watching the video: Watch the video

Here’s their offer at a glance:

• Free valuation up to £400, for more details see their residential rates guide
• A Credit-Friendly Mortgage
• A Key Worker Mortgage
• A Qualified Professional Mortgage

By using the latest technology – combined with their personal expertise – they’ve taken the process of applying for a mortgage online, made it one that is quick, simple and supports brokers every step of the way.

Get started by downloading their rates guide or registering.

Legal & General

Just Covered Podcast – Ep 5 just landed!

We often talk to clients about diversifying their investments, and as advisers we are often asked about a diverse range of products yet how often do we consider diversifying our own business strategy? Nicola McKenzie, Co-Founder of Dunham McCarthy, DM Mortgages and MyLastWill.co.uk (to name a few!) shares how she has done just that. Nicola also shares how she will continue to do this in the future by considering all aspects of a customer’s financial needs as well as the use of online tools and platforms.

A powerful female force and true motivator in the industry, Nicola talks through how she feels that passion and process are two essentials for success when it comes to growth within financial services and doing the right thing for your clients.

Listen Now

In this episode we cover:

• Why diversification of offering is a great strategy not only for your business but how it also helps provide robust, holistic advice to your clients
• Why passion & process = power
• Our thoughts on the opportunity to protect renters and what we can do to educate this largely un-tapped area of the market
• How Nicola’s business covers all aspects of a customer’s needs from will writing through to mortgages and beyond

At Legal and General we also diversify our offering and can offer products and support to advisers via our Retirement, Home Finance, Insurance and Mortgage Club teams. It is likely our business could help you help your customers in more than one area.

To find out more about this, contact us.

Teachers Building Society

One year remortgage available now!

Short and Sweet!

• Are your clients looking for a shorter term mortgage deal?
• Is sitting on the SVR as unappealing for them as locking into a 2+ year term?
• Has mortgage market uncertainty left them keen to take a wait and see approach?

TFIs innovative new mortgage could be the solution you need…..

As recently seen in Mortgage Strategy, we’ve launched a NEW One Year Variable Rate Remortgage deal, available up to 80% LTV, from 4.59%.

Open to your clients who are already on the housing ladder and whose current deal is ending, this short term mortgage offers your clients the opportunity to take a ‘wait and see’ approach, avoiding sitting on a more expensive SVR or locking into a longer deal.

To find out more about this new deal call our TFI team today on 0800378669

Keystone Property Finance

Case study: Buy to Let purchase via a Limited Company

In a recent case, Keystone Property Finance helped a broker looking to source a loan for their landlord client who had been struggling to find a lender who would lend to a Trading Limited Company. The client wanted to purchase a terrace house using a deposit from company funds.

After the client provided the correct documents and evidence of the funds, Keystone were able to complete on the loan at a 65% LTV giving the landlord a new BTL property to add to his portfolio.

Why use Keystone:

• Trading Limited Company purchase
• Deposit from Company Funds
• Same pricing offered to individuals, SPV and Trading Ltd Cos

View products here

View more case studies here

If you need any assistance with your case enquiries Keystone’s business managers can help, call the broker hotline on 0345 148 9086 or email enquiry@keystonepropertyfinance.co.uk.

Holiday Lets – Earned income and wealth considered with seasonal rental income.

Standard Buy to Let – Available for light refurbishment and property improvement.

Family Buy to Let – Providing a home for your clients’ nearest and dearest.

We’re flexible enough to accept earned income and/or personal wealth to supplement rental income on Holiday Lets, Family Buy to Let and Standard Buy to Let. Where Top Slicing is used, rental income must be 100% of the monthly mortgage repayments calculated at pay rate.
Take a look at our light refurbishment case study or how we helped with earned income on a Family Buy to Let.

Our Top Slicing on a Family Buy to Let includes where the borrower has surplus uncommitted income from elsewhere to make up the difference.
For more information about our products and services, including our affordability calculator and applying through our online portal, visit our website at mansfieldbs.co.uk/intermediaries.

LiveMore welcome all kinds of income. Here are 3 recent ‘not-so-average’ cases where an intermediary trusted them to help their 50-90+ client.

1. A client who works in Bank Nursing and doesn’t have set hours each week. LiveMore considered it subject to seeing their previous year’s income.
2. Someone with an Isle of Man State Pension. They said they’ll consider it provided the customer is a UK resident and taxpayer.
3. A contractor – they agreed to proceed with the day rate pay once they had seen the contract.

Sound promising for a case you’re working on? Read LiveMore’s broker brochure here to learn more, or give your regional BDM a call by clicking below, and they’ll be happy to help!

Specialist lender, MHBS, has introduced a range of multi-generation mortgages and remortgages designed for families and groups of friends and caters for up to four applicants and incomes, to maximise affordability. You can read about a recent case they helped with involving four family members and a complex property on our website.

Interest only solutions are available and the new products can be tailored to the needs of each individual scenario. No family connection is required. MHBS offers an LTV of up to 75% and caters for a wide range of complexities including:

• unusual properties
• non-standard income sources
• lending into retirement

Joint borrower, sole owner mortgages are also provided by MHBS and can be combined with the multi-generation solutions.

You can read MHBS’ recent multi-generation case example here or please talk to the team on 01858 412345.

Zephyr Homeloans fifth video in their new series is out now and this week, Zephyr RSM, Andy Rowe, takes two minutes to talk you through how Zephyr Homeloans can offer bespoke options for large portfolio landlords.

Zephyr will release a new video each week, so check their website often to watch them here, or sign-up to their email newsletter here to be kept up to date.

Santander

Stepped percentage early repayment charges

We’d like to reminder you that all fixed rate residential and Buy to Let full mortgage applications, plus product transfers now have stepped percentage early repayment charges (ERCs).

Our stepped percentage ERCs are below:

Further information

You’ll find full details of your client’s early repayment charge in their mortgage offer.

more2life

Q1 2023 Update

After the impact of September’s mini-Budget and the resulting economic instability, are we seeing a return to normality in the later life lending market or is the future still unclear?

Roland Steere, the Director of Funding at more2life, has provided exclusive insights into what the first quarter of this year has brought and what the equity release market can expect going forward. In this quarter’s update, Roland discusses:

• Is it stop or go for later life lending?
• What next for rates and LTVs?
• Q3 and beyond: the outlook for later life lending

Download the Q1 2023 market review here

Pure Retirement

latest quarterly market report

Pure Retirement’s latest quarterly market report is now live, analysing the key trends and headlines from an incredibly changeable end to Q4 2022 as the effects of the mini budget really started to bite.

The latest edition contains the key customer demographic and behavioural changes that will enhance your market knowledge, pulling together the emerging stories from the news cycle to give you a holistic view of the later life sector.

Broken down into three sections, it explores Customer Demographics, Customer Habits and a Market Update.

Headline facts include:

• 31% of those surveyed say they will work well past the state pension age
• 46% of savers are confident they have enough saved for retirement
• 30% of over-55s are changing their retirement plans
• 44% of self-employed workers are not contributing to a pension
• 93,421 new and returning customers released equity in 2022

Read the report here

Vida Homeloans

Right to Buy now available

We now allow purchase only applications from Local Authorities for Right to Buy and from Housing Associations for Right to Acquire.

Product Summary Box

What’s new?
Right to Buy is back – hooray!

What are the Product details?

• 2 and 5 year fixed options
• £0 product fee

What’s the LTV? 75% LTV Any other features?
Available up to 100% discounted purchase price or 75% of open market value

What documentation will I need to supply for a Right to Buy application?
We’ll need to see:

• Right to Buy / Right to Acquire Document
  Please provide a certified copy of Section 125 notice (Right to Buy) or Form RTA3 (Right to Acquire).
• Proof of Rental Payments
  Please provide evidence of the latest 12 months rental payments to the local authority or housing association.

The new Right to Buy products join other recent enhancements to our residential criteria including:

• Minimum loan of £50,000
• Fee free options
• No maximum limit of storeys in a block of flats considered
• Flats adjacent commercial properties – pubs and petrol stations now considered
• Joint Borrower Sole Proprietor expanded to other family members
• Acceptable Visas extended with just one years UK residency required

And that’s not all…

You also have access to our most comprehensive Service Pledge, ever. Meaning, if you feel like you haven’t received a high level of service from Vida and the V-Hub team, we’ll refund the £180 administration fee*. It really is that simple!

Service you have always dreamed of – Vida’s most comprehensive service pledge ever

And remember, our V-Hub team and Underwriters are on hand to help you at every stage. So why wouldn’t you come to Vida with your next case?

With our proposition, products and service, we’re the specialist lender you’ve always dreamed of.

Our Service Pledge