Inform 2nd December 2022

From Monday 5th December, we are increasing the product transfer (PT) application keying window from three months up to six months before the expiry of an existing product, enabling Halifax mortgage customers to secure a new PT rate much earlier.

During the additional three month period a PT can only be keyed to take effect after the expiry of the existing product.

Within the last three months of the existing product the date of effect options will be the same as previously i.e. for the PT to start from the 1st of the following month, or to forward date to start after the expiry of the existing product.

The new extended forward dating window will only apply if keying a PT from Monday 5th December.

When keying a PT, the ‘Product Transfer Date’ section on the Fact Find screen will show the PT date of effect, or if within the last three months where there is the option for you to choose the date of effect.

If a customer has two separate products both ending within the six month forward dating window a PT can only be keyed for the product with the earlier expiry date. The customer can proceed with a PT for the first product and when this has taken effect a second PT application could be keyed, but they would need to choose from the PT products available at that time. Or the customer could choose to wait until both products were within the last three months and action a single PT application.

There are no other changes to the PT process. You should not contact us again after the offer has been issued as completion will take place automatically. You will receive an update email in the month before the PT is due to start to confirm the new product will take effect from the following month. The customer will also receive a letter in the last month confirming details of their new monthly payment.

Between you securing a PT for your customer and this taking effect it is possible the customer may receive a standard letter to advise their existing rate is ending; if you have received a PT offer for them then no further action is required.

Please see below for the earliest date a PT application can now be keyed.

Visit us online – www.halifax-intermediaries.co.uk

Vernon Building Society are pleased to announce that mortgage offers will now expire after 4 months following the date of offer for all products. The expiry date was originally previously 6 months for all products however, this does exclude Buy To Let & Help To Buy which was already an expiry of 4 months.

• Flexible Buy-to-Lets
• No ERCs
• Competitive ICR stress tests
• Up to 75% LTV
• For the next two years
• Delivered quickly

Since we launched our tracker Buy-to-Let products last month we’ve seen interest grow and grow.

After a turbulent period, flexible mortgages have been just what landlords have been looking for, and we’ve seen that with the level of the demand coming through to our teams.

This is where expanding our ops and underwriting teams has paid off for our clients.

Brokers know they can get reliable funding delivered quickly with our key SLAs remaining at 1 day, and our vastly expanded legal panel is ready and able to better support the fast delivery of deals.

Following months of landlords and brokers not knowing where to turn, our Buy-to-Let range now offers them the options they need to secure their portfolios, and keep meeting their ambitions.

Get started.

Why lender innovation will offer brokers a path through the current market

Fresh off of a new tracker product announced last week, LendInvest’s Corporate Account Manager, Jason James, explains how innovation from lenders will be what keeps landlords and brokers moving through the winter.

Find out more here.

Learn the secrets of protection success from advisers, for advisers. Are you ready to become a top protection seller?

Our latest research, The Secrets of Protection Success, shares the winning formula used by some of the industry’s top protection advisers, designed to help you achieve better outcomes

Download the report.

With tax rises, interest-rate hikes and continuing inflation, the economic landscape looks pretty daunting right now. However, in his Autumn Statement the Chancellor made some important commitments which may go some way to restoring confidence in the mortgage market. The crisis may not be over, but we believe there may be some light at the end of the tunnel.

As a broker, you’re in a great position to have open dialogue with your clients, balancing constructive optimism with a realistic view of the circumstances. We are here to work with you, helping people in challenging positions into the homes they need and deserve. We’ll always do what we can to make it happen.

Read our full article here.

Building on their purpose to support wider home ownership. Coventry for intermediaries has updated their lending criteria on new build properties.

Changes to criteria include:

• Up to 90% LTV on new build residential houses
• Allowing financial incentives of up to 10% of the purchase price, with the first 5% not being deducted from the purchase price
• Mortgage offers valid for nine months, plus option to extend for a further three months

Brokers can also choose from any product in their residential or BTL range, which could include cashback and no-fee product options.

Ben Williams, Corporate Account Manager at Coventry for intermediaries says “We recognise that new build properties are a key component to a vibrant housing market. They can be a great choice for first time buyers and are often more environmentally efficient. Our new build proposition has been developed with brokers and admins in mind. They can apply for an offer extension up to 30 days before expiry and we won’t request a client signature or involvement from your conveyancers.

We have a dedicated new build team to support brokers with their applications or alternatively they can contact their BDM or TBDM. All new build applications will be reviewed by a specialist team of underwriters applying a common sense approach”.

For more information visit new build.

The Knowledge Bank ’12 Days of Christmas’ campaign has returned for its 5th year!

Launched on 1st December 2022, we are giving existing Knowledge Bank subscribers, and those undertaking trials during this time, the chance to win a fantastic prize every working day up to the 16th December 2022!

How it works
Each of the 12 Days of Christmas have been provided a fantastic prize by a generous sponsor.

Ranging from lenders, service partners or our brilliant trade press publications, the array of prizes include £150 Harrods vouchers, Apple AirPods and private skiing lessons.

A winner is being drawn every weekday throughout the campaign, and the prize of the day will be revealed by the opening of an advent calendar door on the Knowledge Bank ho-ho-home page, as well as on social media!

Remember, you need to be a user of Knowledge Bank to win a prize, so start a 30 day FREE trial today to be in with a chance to win! 

Also, if you are an existing user, why not get other members of your business to start a FREE trial, so that you have more chances of winning as a team!

The daily winners are being announced on social media and are contacted personally by the Knowledge Bank team to notify them of their win.

Good luck, and Merry Christmas from all at Knowledge Bank!

Terms and Conditions apply – click here to view them in full.

Zephyr Homeloans have created guidance and tips related to running a successful tenancy, which you and your landlord clients should find useful.

The guidance covers everything from getting ready to let a property, mid-term inspections, organising a smooth checkout and what to do when it doesn’t go to plan.

View the guidance here.

Win a £100 Amazon voucher in time for Christmas

The Zephyr Homeloans team are starting to feel festive and want to spread some cheer. So, when you have 5 minutes spare have a go at their short Christmas quiz before 16^th December.

If you get all 4 answers correct you will be included in their free prize draw to win a £100 Amazon gift card!

Enter here.

Following the a semi exclusive professional mortgage pilot, Hodge have decided to, from the 5th December, make the proposition a core range.

Look out for an announcement or the update on their website.

If you missed our live ‘overcoming protection objections’ webinar – don’t worry! You’re now able to watch this on demand at a time that suits you.

Jamie Page, our Head of Protection Distribution, looks at:

• Understanding the most common protection objections
• Gaining a deeper understanding of the self-employed segment
• Confidently tackling protection objections

Watch on demand and gain 25 minutes CPD!