Inform 28th October 2022

Bluestone’s Right to Buy scheme is now available, giving council tenants the opportunity to buy their home at a discounted price.

Right to Buy Highlights:

• Available on residential 5 year fixed rate range
• Available in conjunction with all standard criteria
• Up to 75% LTV
• Lend 100% of discounted purchase price, up to a max 75% of open market value
• Criteria based on completion
• Joint borrowers product selection is based on the lowest credit tier of any applicant

Download Bluestone’s latest product guide.

Impact Packaging are members of the exclusive Bluestone ‘Sapphire Packager Club’. The membership allows access to exclusive products, view Bluestone’s Mortgages product guide to find a solution for your right to buy cases.

Have a case you would like to discuss? Call the impact packaging team now on 01403 272625

As brokers know only too well, the mortgage market is moving at an extraordinary pace at the moment. Barely a day goes by without a lender amending its product range, whether that be repricing or even in some cases, pausing lending entirely.

Time has always been of the essence when it comes to borrowing and the time pressures now mean that being able to move swiftly is more important than ever.

That doesn’t mean speed for its own sake though, but the ability to swiftly identify the right lender, a lender who will be able to support the client on their journey.

Click here to read the full article.

Watts Commercial Finance are delighted to announce a new partnership with Crewe Alexandra Football Club. The deal will see the multi-award-winning commercial brokerage feature on the sleeve of the Crewe Alexandra Women’s side and have branding at the Mornflake Stadium.

Watts now join Crewe Alexandra’s growing list of partners at the Football Club with a special focus given to the Women’s team.

Speaking on the partnership, Phil Gray, Managing Director of Watts Commercial Finance said: “We’re delighted to partner with Crewe Alexandra. With a long history of supporting grass-roots sports, this new partnership allows us to give something back to our local community which is something we are proud to be able to do.

“With the success of the Lionesses in the summer, there is a real buzz about women’s football at the minute and we are proud to support Crewe Alexandra Women’s side as they continue to grow, improve and excel in their league.”

Chris Turner, Business Development Manager at Crewe Alexandra, added: “This deal represents another partnership with a major local organisation, and we’re delighted to get it over the line.

“We’re hopeful that this relationship can continue to blossom over the next few years and that will be of great benefit to Women’s football in the local community.”

In case you missed it, earlier in the year we shared a new mortgage jargon buster for your advisers to use with their clients.

The A-Z glossary explains all key terms you’d expect to hear throughout the mortgage application process.

Click here to download and use this useful guide.

According to our 2022 Social Care Report, more than 70% of those surveyed found the process of finding care stressful and complex, while 58% found it hard to find the right information.

Getting independent advice has never been more important. Your clients will depend on you to give them better outcomes as expected by the FCA in its upcoming Consumer Duty Regulation.

Read our full report to learn more.

UTB’s common-sense approach to lending and ability to take a view on cases, helps intermediaries achieve positive outcomes.

1. Unusual property types, construction, or acreage
   Including: above a commercial, balcony access, farmhouses or listed buildings
2. Complex income
   Self-employed, contractors, 0 hours or multiple income streams
3. Adverse credit
   CCJs, defaults or missed mortgage payments
4. Competitive product set
   Residential Mortgages, Second Charge Loans and Buy-To-Let

Register HERE today for access to our portal and latest rates, document upload, online DIPs and case-tracking.

Call: 020 7031 1551
Email: mortgage.enquiries@utbank.co.uk

In partnership with the Association of Mortgage (AMI), please join our webinar where we will share findings from our 2022 consumer and adviser market research and give our views on what this means for the industry.

AMI have conducted qualitative research involving a bespoke community of consumers, spanning a range of demographics and protection needs. We’ll share some of their thoughts and feelings during the event.

3^rd November 2022, 9am for 9.15 start. The event will finish by 9.45am.

Register now

Amid rising base rates and rocketing energy costs, landlords are now facing an extra potential headache – stricter EPC targets that will hit the rental sector hard. It could impact your BTL business, so you should be prepared.

Under proposed new rules, there’ll be a higher minimum rating required for all newly rented houses and flats from 2025. For many landlords, that could mean spending thousands on double glazing, insulation, and new boilers. As a result, many will consider selling older properties, while brand new homes will become more attractive for BTL business.

Our new article covers details including;

• What the new targets mean
• Exemptions, and who is likely to be eligible
• Potential portfolio unloading
• How landlords are snapping up new-builds

Understanding the legislation will give you a great reason to contact and talk to your BTL clients. And it will help you get ready for the inevitable changes in the market.

Read the article now.

I’m sure you’ll be aware that the Government HTB scheme, originally launched on the 1st April 2013, is due to close for new applications from the 1st November.  Platform has continued to support the scheme but we’re now required to remove the ability to place new business applications in line with Government guidance.  The last date for new business applications is 31st October 2022 but there is a little more information below.

• The Government has confirmed there are no current plans for the scheme to be replaced nor extended but there is more information about other Government home ownership schemes here ownyourhome.gov.uk.
• The last date for new applications is 31st October and the homebuilder must have finished building the home by December 2022 so that it is ready to live in.  This is called practical completion and at this stage the home will receive a new home warranty.  The mortgage must legally complete by 31st March 2023 and the keys to the property must be available to the customer by 6pm.  If the mortgage does not complete by this date, the customer will not be eligible for the equity loan.  Checking with the homebuilder and conveyancer is key to ensuring these dates are possible.
• If the homebuilder cannot finish the home in time, the reservation fee must be returned to the customer in full.  If contracts have exchanged then customer must be released from the contract unconditionally and be refunded the deposit.  Customers may still have to pay related costs and fees associated with the purchase of the home including legal advice, mortgage fees and financial advice.
• HTB offers will not be extended past this 31st March 2023.

Customers will be able to switch to another product at the end of their fixed rate ends in the usual way and rates are published on the Platform website. Porting of HTB products is not available but additional borrowing is permitted in line with scheme rules so please check the Platform website for any further details.

The rising cost of living has added a new dimension to the energy efficiency conversation.

Our new whitepaper – Confronting the EPC Challenge: The Path to a Sustainable Rental Market – analyses the impact of the rising cost of living on the UK's private rented sector.

The findings show a recent shift towards energy efficiency improvements:

• 58% of renters say they would be less likely to consider a property with an energy rating of D or below
• 54% of landlords have made energy efficiency improvements in the last 6 months
• 63% have brought forward upgrades because of sharp inflationary pressures

While changes to the Energy Performance Certificate (EPC) regulations are still proposed for 2025, energy efficiency continues to grow in importance within the UK's rented sector.

Download our new report to get all the latest insights on how the market can confront the EPC challenge and strive towards a sustainable rental market, and why brokers are a pivotal part of the conversation.