News

new appointment

Equifinance: Affordability is the specialist lender’s ‘new best friend’

Tue 10 May 2016

Specialist second charge lender Equifinance has claimed that affordability calculations are something which can be of real benefit to specialist lenders when assessing second charge mortgage cases. Since the implementation of the Mortgage Credit Directive the updated processes have delivered a fresh look at one of the most important parts of the process so they can benefit […]


Shawbrook Commercial sees massive decision time improvement

Tue 10 May 2016

Shawbrook Commercial has seen its SLA for application decisions drop from 48 hours to 4 hours following the launch of its digital application service – “E-AIP”. The service is available across the residential investment suite with over 50% of applications across the range arriving via E-AIP. To date, of those brokers who have used E-AIP over […]


Developers facing government tax crackdown

Mon 9 May 2016

Tax dodging property developers are being investigated by a government “crack team of experts”, the Evening Standard has reported. The ‘task force’ will focus on avoidance and evasion primarily in London, with ministers already identifying firms to investigate. It will work to ensure developers pay the right amount of stamp duty, employment taxes and other levies. […]


Accord unveils 1.87% 2-year fix

Mon 9 May 2016

Accord is offering a 65% loan-to-value 2-year fix at 1.87% with no fee for remortgagors. The product comes with a free standard valuation and either £250 cashback on completion or free legal fees. Also available is a 65% LTV 2-year fix at 1.94% for house purchase with no product fee, £250 cashback on completion and […]


Aldermore unveils 3.93% buy-to-lets

Mon 9 May 2016

Aldermore has launched ‘limited edition’ buy-to-let fixes at 3.93% for 2, 3 or 5-years to 80% loan-to-value. The rate is available for purchase and remortgage for individuals and limited companies while it comes with a completion fee of 1.50% and a booking fee of £199. Borrowers can take out a loan between £250,000 and £1m. […]


Shawbrook hires lending manager

Mon 9 May 2016

Shawbrook Bank has hired a lending manager in Mark Palmer and made several other appointments. Palmer worked as a mortgage adviser and then supervisor at Yorkshire Building Society and is responsible for overseeing cases with repeat Shawbrook clients. Also joining is Mark Valmont as a quality control officer and Amanda Howe and Ella-Louise Smith as […]


EU president blasts “part-time Europeans”

Mon 9 May 2016

Just short of two months before the UK’s EU referendum the European Commission’s president Jean-Claude Juncker has blasted what he calls “part-time Europeans”. In a Rome debate with other European heads he claimed leaders are putting too much stock in national opinion rather than working together to develop a “common European sense”. Juncker said: “We have full-time […]


UTB reports record breaking month for asset finance

Fri 6 May 2016

United Trust Bank’s Asset Finance team has posted a record breaking first quarter of 2016 with lending volumes increased by 80% on the same period last year Martin Nixon (pictured), head of asset finance at United Trust Bank, said: “The first three months of 2016 have been the Asset Finance team’s busiest first quarter since I […]


Developers urged to think twice on larger units

Fri 6 May 2016

Developers are being urged to look at demand before committing to larger units following research from Benham & Reeves Residential Lettings. According to their statistics 49% of all flats let across its 15 London offices have been two-bedroom apartments. One-bedroom units constitute 22% of all transactions, studios 11% and the remaining 18% are apartments and […]


FHL issues buy-to-let warning

Thu 5 May 2016

Foundation Home Loans has cautioned against brokers taking out pay rate buy-to-let products on fixed or lifetime tracker mortgages. With pay rate loans landlords can commonly borrow more, however with the Prudential Regulation Authority introducing a minimum stress test of 5.5% FHL’s commercial director Simon Bayley suggested they might have trouble refinancing down the line. […]