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Lehman brands to use Hometrack AVMs

Lehman Brothers four mortgage brands, Southern Pacific Mortgage Limited, Southern Pacific Mortgage Loans Preferred and London Mortgage Company are set to use Automated Valuation Models provided by Hometrack.

Simon Hinshelwood, chief executive officer of Lehman Brothers Mortgage Capital businesses, says: In certain circumstances we will now allow our packagers the option of instructing an AVM through Hometrack rather than commissioning a valuation report.

We understand speed is a benefit to some but not all customers, our approach is all about choice.

“Provided we are happy with the value of our security within certain risk parameters, we believe the people best placed to determine whether to use full surveys or AVMs are the customers and their advisers through their chosen packager.

David Catt, commercial director of Hometrack, says: We have been working with London Personal Loans for some time and we are pleased to be extending this service, working with other lenders in the Lehman Brothers Mortgage Capital business. We are confident that Hometrack will compliment the existing personalised service being offered to intermediaries.


North-East tipped as next hotspot

The North-East has been tipped as a potential property hotspot by SG Hambros. A study by the wealth management group says that while the North-East presently has the lowest house prices in the UK, this is unlikely to be the case for long. It predicts that by 2015 property prices in the area will be […]

HIPs have cost 11m so far

Last week, the government revealed that preparation for the launch of Home Information Packs has already cost over 11m in administration, legal and consultation fees.

RBS slashes BTL rate

Royal Bank of Scotland Intermediary Partners will be cutting the rate on its NatWest buy-to-let two-year fixed rate mortgage to 5.35% from 5.74%. The bank has also raised the LTV on interest only buy-to-let mortgages to 85% from 75%.

Heritable appoints BDM for East Anglia

Heritable has appointed Robert Salter as business development manager for East Anglia. Salters remit will be to promote Heritables bespoke property finance offerings and to develop introducer relationships across Bedfordshire, Cambridgeshire, Essex, Norfolk and Suffolk. He is familiar with this region, having previously covered East Anglia in the same role for Mortgage Times. Heritable is […]

Top seaside property hotspots revealed

Like to let beside the seaside? The latest research from LendInvest looks specifically at coastal towns to find which areas offer the top average rental yields to landlords. Where are the top seaside postcodes for landlords? The interactive map below looks at the highest rental yields along the UK coast. According to the data, Hull, […]


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