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LATEST PARTNER BLOGS:
FLEET
Looking Ahead At The BTL Market In 2023
KEYSTONE
Multi-Title Split For Portfolio Landlord
GUARDIAN
It’s Time To Get On The Front Foot
MPowered
January newsletter is here
Ready to say goodbye to January?
January may seem to go on forever, but our MPowered platform is here to speed things up.
How? Our tech does the heavy-lifting, reducing the amount of time you’ll need to spend on repetitive admin. Here’s our top 3 updates we made last year to enable you to submit an application in minutes.
- Complete your application your way
Our platform gives you the flexibility to complete an application in any order you like.
No longer a linear journey, you can choose which section of the mortgage application you want to complete first…or last.
And remember – you don’t need to complete the whole section before you move on to the next. Come back to it later when you have the information you need.
- See what documents we’ll need upfront
Based on the information you’ve keyed into the application, our system will let you know what documents we’ll need to see.
The result? Less unnecessary back and forth with our underwriters as you’ll know exactly what documents we’ll need upfront, before you’ve even hit ‘submit’. - Upload the correct documents the first time round
Our system will automatically flag if you’ve:
- Missed any documents
- Uploaded incorrect date ranges bank statements, passports, payslips, driving licences and P60s
- Mistakenly uploaded another applicant’s documents
Ready to get started?
Head over to our website to submit a full mortgage application.
Mansfield Building Society
More flexibility for quirky properties!
Our revised Versatility range now offers more flexibility for quirky properties with Section 106 Agreements and non-standard construction or design now considered on applications up to 85% LTV.
Take a look at our criteria guide to see what we can do for your clients.
Our full range of Versatility products is available online via our intermediary mortgages page.
Case Study Examples
We’ve lent on a property attached to a windmill which had to be in commercial use for 2 days a year. The loan was also completed on interest only with property downsizing and included capital raising for home improvements.
We’ve also approved a loan for a combined residential bungalow and cattery business that also had a right of way over the land. The remortgage included debt consolidation with an interest only repayment strategy that included a combination of downsizing and the sale of two plots of land.
The Mortgage Lender
Making more from new build business
With continuing high demand and developers struggling to keep up, the new-build market brings some unique challenges and opportunities for brokers.
If you’re going to make the most of new-build business, you have to know what makes this sector of the market different. The latest article from The Mortgage Lender (TML) can help.
The article covers:
- How global events are impacting the industry
- Where the market is going in the months to come
- How long build times are a potential time-bomb for buyers
- How TML can help you help your clients if they get into trouble
The advantages of buying new – including certainty over the purchase price and move-in dates are undeniable. But long build times and fluctuating rates are making the current climate challenging, to say the least. TML can help you navigate those choppy waters.
LiveMore Capital
How we can solve your ‘not-so-average’ cases
Our team love those ‘not-so-average’ cases. Here are some 50-90+ cases our intermediary partners have referred to us recently:
- A barn conversion declined by an Equity Release lender due to non-standard construction
- Lending on a property with concrete construction
- An application where some of the income is made up of foreign income
Sound like a case you’re working on right now? – give your BDM a call today. We bring a ‘can-do’ approach to every case and we’ll be happy to help.
Legal & General
Just Covered episode 3 just landed!
“It’s all about the client, not about you…” Hazel and Wayne are joined by Nicola Crosbie – Chartered Financial Planner and owner of Moran Wealth Management for this episode
As professionals in the financial industry, what more can we be doing to ensure our clients feel empowered with their finances? Nicola voices her views on why she feels she is a “coach” to her clients and how to build a successful client relationships. Nicola believes we have the gift of knowledge that can help us give our clients power over their financial choices. Nicola shares why she feels a good match between adviser and client is essential in order to build a successful rapport and deeper relationship with clients.
Want to feature in a future podcast? Contact hazel.johnston@landg.com
Halifax
Cladding update
We wanted to confirm some changes we made recently to the treatment of properties with cladding, or where the cladding status is unknown.
In England, for properties in buildings that are five storeys or higher we will no longer require an External Wall System (EWS1) form in order to progress an application. We will also be able to consider applications on properties where cladding remediation work is required but not yet completed.
This only applies to buildings five stories or higher therefore EWS1 forms may still be required for buildings four storeys or lower and for properties in Scotland, Wales or Northern Ireland. The surveyor will advise when an EWS1 form is required.
For further information please see our website Criteria section on EWS1 and Cladding.
Aldermore
Latest landlord research insights
48% of landlords think they are unable to expand their portfolio – Why might your client think this……?:
- Are they being told they have too many properties?
- Are they being told there too old?
- Are they being told they don’t have enough income?
- Are they being told they are over exposed?
- Are they being told they need a larger deposit due to being a portfolio landlord?
Yes, rental income can drive some of this – but does the landlord need a discussion to change perception…? Do they know they can blend rentals across multiple properties with a lender like Aldermore?
FCA
‘LIVE & LOCAL’ EVENTS
The FCA recently announced their ‘Live and Local’ events dates and locations.
Whilst there’s a charge for all firms, Consumer Duty will be a topic of conversation and it’s your chance to hear what the regulator has to say.
Presented by Gordon Findlay and Mark Goold, these two-hour events are designed to help small and medium sized firms understand:
- The background to, and key elements of, the Consumer Duty
- The areas firms should consider to ensure they are meeting the new requirements
- How the Consumer Duty applies proportionately
- Our supervisory approach to the implementation of the Consumer Duty
