Inform 2nd August 2024

Landbay

Resilient HMO’s in the UK property market

Landbay highlights the strong demand for Houses in Multiple Occupation (HMOs) in the face of a housing shortage, particularly in London, the South East, and the East Midlands. Managing HMOs comes with challenges, with only under 30% of landlords owning HMO properties. Many landlords rely on their property portfolios as their sole income source, with some expanding their portfolios as a full-time career.

Local regulations, such as additional licensing schemes and Article 4 Directions, play a significant role in controlling HMO stock. Despite complexities, a significant portion of landlords self-manage their properties, with a preference for smaller portfolios of 4 to 10 properties. Positive trends include decreasing utility bills and favorable council tax banding, making HMO investments attractive for higher returns. The sector remains resilient, with potential for growth pending government actions, emphasizing the importance of thorough research for successful HMO investments.

Some highlights:

under 30% of landlords who participated in our latest landlord survey owned an HMO property or portfolio
72% of these landlords owned HMO properties through a limited company.
50% of the properties were self-managed by landlords
Only 19% of HMO landlords relied on property management companies, with a quarter using estate agents.
the most popular size of HMO portfolio was the smallest, between 4 and 10 properties, with 34% falling into that category

Read the full article here.

Melton Building Society

Contact details

From Thursday 1st August Melton Building Society will turn off their old ‘brokersupport@mmbs.co.uk’ inbox and will replace them with the below contacts details;

For all pre-sales enquiries, please use sales@mmbs.co.uk
For submitted applications, please use processing@mmbs.co.uk

Zurich

Making it easy with pre-app

Our pre-app underwriting tool makes it quick and easy to obtain a clear, accurate, indicative view of terms available across our broad range of products and services, saving you valuable time and effort, before getting a full quote.

Given the great feedback we receive on the tool, we wanted to improve this further, ensuring better ‘in the moment’ access to a real-life underwriter to discuss your results, exactly when you need them.

Taking action based on your feedback

Based on your feedback we now have a live chat service, accessible from the pre-app results page, allowing you to chat with one of our underwriters and discuss more complex cases or multiple disclosures without the need to email us.

Here’s how:

Login to your adviser portal and navigate to the ‘pre app tool’ from your menu.
Complete your pre-app exactly as you would normally.
When you reach the results page, you’ll see the option to ‘Chat with an expert’ allowing you to connect to one of our experienced underwriters there and then.

Continue reading…

Aria Finance

A Broker’s Essential Guide to Bridging Loans

Traditionally bridging was used for auction finance or to rescue a broken chain, it’s now a sophisticated product used for a variety of reasons.

In our essential guide to bridging loans we explore when is the best time to use a bridging loan, what are the benefits, why are bridging loans considered expensive and lots, lots more!

Check it out here.

Legal & General

Just Covered Podcast | New episode!

In this episode Hazel and Wayne meet Senior Financial Consultant, James Hindley from Embrace Financial. During the conversation, James reflects on a lifetime selling protection and critical illness cover – including how he harnessed his skills, knowledge and adept understanding of the industry. He also discusses his entry point into financial services starting in sales, what’s changed over the years and the continued power of storytelling, compassion and empathy in offering meaningful, holistic advice to customers.

This episode also covers:

How to take customers on a personalised, memorable journey by incorporating tangible stories and relatable value-added advice, based on different demographics and needs, while also meeting expectations around Consumer Duty.
The importance of ongoing learning and continuous improvement for staying afloat in an evolving financial and legal landscape.
Changing attitudes towards protection and critical illness cover, and how growing awareness around mental health and wellbeing is affecting uptake in advice services.

Listen now- Episode 18 | Offering Tangible Value: How Meaningful, Impactful Advice Creates Positive Client Outcomes (buzzsprout.com)

Buckinghamshire Building Society

Integration and enhancing the JBSP option

At Buckinghamshire Building Society, we are committed to continuously reviewing our lending propositions to meet ever-changing borrowing demands. In line with this commitment, we have made a significant update to our product offering by integrating the Joint Borrower Sole Proprietor (JBSP) facility across our prime product range up to 90% LTV for both purchase and remortgage purposes.

This strategic move means that all mortgage products within our extensive prime range will now include the JBSP option. It will extend its availability and accessibility to a broader spectrum of applicants, more product options, potentially lower rates, and desktop valuations up to 75% LTV. Additionally, we will consider JBSP applicants based on standard credit criteria, meaning that debt management plans are acceptable if none have been registered in the last three years.

Read Carla’s real life sencario.

At Buckinghamshire Building Society, we are committed to finding the best solutions for our borrowers, ensuring they have access to the support they need to keep their homes and maintain stability in their lives.

By partnering with us, intermediary partners can now offer a broader range of solutions to their clients, making it easier to navigate complex financial situations and secure the best possible outcomes for borrowers.

Should you have any questions or require more information, please contact your dedicated Key Account Manager or call us on 01494 879500.

You can find your Key Account Manager here.

Hodge

We’ve enhanced our new build policy

We’ve listened to feedback and even better, we’ve acted on it. What’s changed in our new build policy?

We’ve increased the allowance of builders incentives from 2.5% up to 5% which isn’t deductible from the valuation figure of purchase price.

This enhancement is available across all our products with immediate effect. Interested in finding out more? Give your local BDM a call.

Jon Matthews, head of property risk, shares his insight into our latest enhancement:
“We have further enhanced our new build policy relating to incentives which better aligns us to the wider market.

We will now allow cash incentives of 5% which are no longer required to be deducted from the purchase price or valuation which is another example of how Hodge strives to evolve its property criteria to say yes to more of your customers.”

Business development director, Emma Graham gives her thoughts on the change to our new build policy:

“Enhancing our criteria around new build incentives gives us more of a right to play in this area of the market with a maximum LTV of up to 90%, up to 6 x LTI, the acceptance of 1 years accounts and 100% of all validated incomes and the willingness to consider mortgage offer extensions for new build properties across England, Scotland and Wales.”

To find out more speak to your local Hodge business development manager

To read about our other enhancements and latest news, visit our knowledge hub –
https://hodgebank.co.uk/intermediaries/the-hodge-knowledge-hub/

0800 138 9109
lendingsupport@hodge.co.uk
hodgebank.co.uk/intermediaries/

The Mortgage Lender

Unleash the power of CRM

As a broker, you’re almost certainly a people person. You know building and maintaining great relationships with your clients is fundamental to long-term business success. But naturally, it takes time and effort.

Fortunately, you no longer have to rely on a Rolodex and a good memory to keep connected with customers. CRM – Customer Relationship Management – can transform the way you interact with new and existing clients, while putting powerful business and marketing tools at your fingertips

Get CRM working for you. Read our article now. Read the full article.

Santander for Intermediaries

Digital mortgage offers have arrived with Edge Home

Exclusive to TMA brokers can now access your mortgage offer as soon as its available in the Edge Home tracking app from today, rather than waiting for it to arrive it the post!

On Monday 29th July, we launched a new solution that enables your clients to download their mortgage offer directly through Edge Home, offering them the convenience of 24/7 online access. This addresses a major pain point highlighted during the Edge Home pilot, where customers expressed frustration over delays caused by the Royal Mail delivery service.

Why This Matters:

Seamless Service: This new feature streamlines the process for your clients, making it easier and faster for them to access vital documents.
Enhanced Relationships: Providing this cutting-edge technology strengthens the trust and satisfaction between you, your client and Santander.

How It Works:

Your clients will receive an email once their mortgage offer is ready.
They can then simply log into Edge Home to download the document at their convenience.

Any queries please get in touch with your key account manager.

Our new website is here!

On Monday 29 July, we launched our new website with an improved look and feel plus other changes.

Improved search so you can find the information you need using industry-recognised terms that may not be consistent across all lenders. For example, if you search for ‘rate switch’, you’ll see results for ‘product transfer’
More service levels added to our homepage with the option to click and view ‘Our service levels’ page
Affordability calculator tells you the maximum amounts available on interest only and repayment for part and part mortgages plus other improvements
Design and layout improvements to make it easier for you to navigate
Register button added to our homepage making the broker registration process easier.

Take a look at our website to see the changes.

more2life

What Impact Has The Election Had On Equity Release Interest Rates?

Now we’re a couple of weeks on from the General Election, a clearer picture of the market’s short to medium-term future is emerging.

Watch now as more2life Managing Director, Ben Waugh, discusses the impact the recent General Election has had, and is expected to have on interest rates within the equity release market, as well as:

Why you should move forward with customers who have needs now
How you’re protected with more2life should an unexpected rate decrease arrive
Our guarantee of faster loans or £500

Suffolk Building Society

Taking gold for self build mortgages

Auf weidersehen Euros, bonjour Paris!

This great summer of sport continues. Just because it’s not coming home, doesn’t mean we’ll stop the sporting puns.

When it comes to self build mortgages, we won’t drop the baton on your case.

We’ll lend on land
No packager required – just you, us and your client
We’ll lend even after the build has started
Max 80% LTV
Flexible stage releases
Interest only during the build
Establish yourself as a self build expert with our guest blogs, research articles and guides.

Or just call us on 0330 123 1073.

The Foundations of the Olympics:

The first edition took place in 776BC. That’s 2,800 years ago!
The first of the modern games took place in Athens in 1896.
The first official Paralympic Games was held in Rome in 1960.
The most expensive Summer Games were Beijing 2008 at $40-44 billion.
Overspends (something to avoid with a self build!) are common for the Games. London 2012 had a 76% cost overrun. Montreal 1976 really blew the budget at 720%.
The iconic Olympic rings were created in 1913 by Coubertin (who organised the first Olympic Congress in 1894). Each ring represents a continent.
The only city to have hosted the games three times is London: 1908, 1948 and 2012.
Paris 2024 sees one new sport – breaking – and three new-ish sports returning from the Tokyo games: climbing, skateboarding and surfing.
The surfing will take place in Teahupo’o in Tahiti, French Polynesia.
Karate won’t be included for Paris 2024.

Quick links.

Lending criteria / Product Finder / Calculators

The Mansfield Building Society

Improved criteria for Expat Buy to Let

We’ve improved our criteria for Expat Buy to Let (BTL) lending to include:

No maximum time out of UK
Consumer BTL rental income simplified to 125% at 6.5% or 2% above pay rate
Flats in blocks of up to 10 storeys accepted, including in city centres and over commercial units

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.