View more on these topics

APS adds BuildStore to direct lending panel

APS Europe Mortgage Club has added BuildStore, provider of mortgage products to people wanting to renovate or convert their home, to its direct submission panel.

Brokers will now be able to offer BuildLoan, a self-build mortgage for the intermediary market, to their clients and receive a procuration fee via APS Europe.

The range of features, include borrowing of up to 95% of the lower of the cost or value of land, borrowing on land with only outline planning permission and up to 95% of the build costs.

The stage payments are made in advance of each build stage and in addition to a self-certification option applicants can take an interest payment holiday during the build.

In addition to the finance from the four lenders currently operating as BuildLoan partners, BuildStore also offer a land-finding service via its online database, PlotSearch, site insurance and structural warranty.

It also features access to a network of project co-ordinators and a materials buying service which guarantees trade prices.

APS Europe director Ben Gardner says: “The addition of BuildStore to APS&#39 panel further enhances the choice of lenders for its members.

“The specialist field of self-build and renovations is a growing market and something brokers have been making enquiries about for some time now, so the company is delighted to be able to promote and provide access to the range of BuildLoan mortgages.”

Raymond Connor, managing director at BuildStore, says: “Self-build has become a mainstream option to buying a house and the mortgage intermediary is well placed to take advantage of the increase in the market.

“Our BuildLoan product which gives the self-builder a high lending percentage and positive cashflow during the build has become popular with intermediaries and we are delighted that it is now available via APS Europe.”


London rental yields hit 7%

London rental yields have hit 7% as Paragon Mortgages&#39 buy-to-let Index shows further recovery in the capital. The index reveals that yields have risen in the capital from a low of 6.56% in July to 7% in October. The trend in the capital is symptomatic of a general firming of yields in southern parts of […]

Genesis unveils initial plans for packagers and appointed reps

Genesis Home Loans has announced its initial propositions plans for packagers and appointed representatives beyond Mortgage Day. The Peterborough-based branded lender and mortgage club says it will be offering a full appointed representative proposition with the combined benefits of a detailed compliance offer, supported by the latest technology and a comprehensive lender panel. Benefits of […]

Brokers express &#39bitter disappointment&#39 in FSA

Brokers reacted angrily towards the FSA during the Mortgage Expo &#45 stating they are &#39bitterly disappointed&#39 with how the regulatory process is being handled. During the Expo a number of brokers expressed their frustrations and revealed that they have little confidence in how the FSA is managing the regulatory regime. Challenging a panel of FSA […]

MCCB welcomes FSA decision on &#39good&#39 firms

The Mortgage Code Compliance Board says it welcomes the FSA&#39s confirmation that registered firms in &#39good standing&#39 with the board will enjoy a smoother journey through FSA regulation. The move follows a comprehensive review by the FSA of the MCCB&#39s registration criteria, compliance monitoring arrangements; and actions to deal with breaches when they occur. However […]

A guide to automatic re-enrolment

Since the introduction of auto-enrolment in 2012, it has been a popular topic in the press. Recent media focus has been geared towards small and micro employers; however attention is set to return to the UK’s largest businesses as they prepare for re-enrolment. Johnson Fleming has produced a useful guide that provides essential information to help you […]


News and expert analysis straight to your inbox

Sign up