Roger Morris, Director of Sales
I don’t know about you, but I always struggle to remember the exact order from the carol The 12 Days of Christmas. Everyone knows that it’s fiiiiive gold rings, but what was it that my true love was supposed to have given to me on the tenth day? Was it geese a-laying, drummers drumming or maids a-milking*? I can never seem to get it right.
But I’m not here to talk about the 12 Days of Christmas. Instead I want to talk about the 12 Ways of Christmas, a dozen ways in which we’ve made it easier for you to place more of your customers’ cases in 2020.
- We’ve expanded our top slicing option to include all eligible personal ownership, limited company, portfolio, HMO, holiday and student let landlords. This means customers can now use their surplus earned or portfolio income to prove they can meet any financial stresses on a new loan application, rather than through the rental income of the property alone.
- We now accept second applicants on zero hour contracts across our Residential Mortgages range.
- We’ve enhanced our Refurbishment Buy to Let proposition and now accept work being completed under selected permitted development rights. This means landlords could change the use of property from a C3 dwelling house to a C4 HMO with up to six bedrooms, provided there are no structural alterations or changes to the footprint of the property.
- Customers can now borrow up to £500,000 on our Residential Second Charge Loans.
- We now offer homeowners the option to remortgage and capital raise to repay part of their original Help to Buy Equity Loan. We also offer Help to Buy in Scotland to help customers north of the border take their first step on the property ladder.
- We’ve reduced the minimum age for buy to let landlords from 25 to 21. This is available to all eligible personal ownership, limited company and HMO landlords and we also accept first time buyers (maximum age of 70 at the end of the term).
- Our new easy-to-use search function lets you quickly identify the member of our Sales team best placed to help you if you need some support placing your cases.
- Regulated and non-regulated Bridging Finance is now available to 75% LTV. This can help even more customers with their light refurbishment projects and other short-term lending needs, such as properties deemed uninhabitable for long-term lenders, property improvements to meet the minimum EPC rating, growing property portfolios and purchasing a property at auction.
- We’ve launched a Refurbishment Buy to Let calculator to give you an indication of how much your customers could borrow in just a few minutes.
- We’ve removed the early repayment charges from our Residential Second Charge Loans if your customers decide to repay all or part of their loans early, as well as scrapping the assessment fee for cases submitted directly to us.
- We’ve reduced the minimum Buy to Let Mortgage loan size to £40,000.
- We’ve continued to expand our Sales Team to ensure that wherever you’re based in the country you’re never far away from the support you need. All of the team are dual-skilled to help you with both your first and second charge mortgage enquiries.
We hope the improvements will help you place more of your customers’ cases with us and we look forward to helping you in 2020 and beyond. A very merry Christmas and a happy and prosperous New Year.
* In case you were wondering, it’s ten lords a-leaping.