West Brom for Intermediaries has cut the standalone rental cover requirement on its buy-to-let product range from 120% to 100%. Under the standalone calculation, monthly rental must cover 100% of the monthly payment at a notional rate of base plus 1% on an interest-only basis. Any rental shortfall can be topped up using the applicant’s earned income.
- Top trends
The Conservative Party has unveiled a new scheme enabling taxpayers to discover how their tax money is spent by the government.Shadow chancellor George Osborne has announced plans for legislation to bring transparency into state spending by requiring the Treasury to set up and run a special website showing where the government is allocating resources collected […]
Thomas Reeh, chief executive at Blackandwhite.co.uk says the two-year discount product is losing its appeal for consumers and brokers. He says offset and base rate trackers are on the increase as consumers are looking for alternatives to two-year discount sting in the tail deals. Reeh says: “Consumers are getting tired of the two-year discount merry-go-round. […]
Advantage has been added to Mortgage Promotions’ lending panel. Brokers using the panel can now access all the Advantage product ranges.
DB Mortgages has stepped up its presence in the sub-prime specialist market with several improvements to its lending criteria.The changes follow a review of criteria and feedback from the packager market. Mark Bergin, director of sales and marketing at DB Mortgages, says: We are rapidly becoming one of the main sub-prime lenders and implementing these […]
So are the new Pension Freedoms being used? The answer to this appears to be a very clear ‘yes’. Figures from the Financial Conduct Authority (FCA) this week provides firm evidence of such usage.
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