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The Mortgage Works announces buy-to-let changes

The ratio will be based on a nominal rate of 5.99% or the actual pay rate if higher up to 80% LTV.

Paul Howard, associate director at Portman Group Intermediary Sales, says: “I feel we are near the top end of the interest rate cycle and, whilst the Bank of England base rate has gone up several times in recent months, I believe we have covered this in our current calculation. There is an inherent strength in the buy-to-let market and this will continue. We have readdressed the calculation on our buy-to-let products to reflect market expectations on interest rates.”

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UCB Home Loans increases variable mortgage rates

The variable rates are now 7.04% (7.5% APR) on the flexiplus variable rate, 7.04% (7.5% APR) on the investment flexible variable rate and a self-certification variable rate of 7.64% (8.1% APR).

Advantage Home Loans enhances procuration fees

The announcement enhances all deals placed on its Branded S500 range – funded by Southern Pacific Mortgages – by a further £400 provided that the business is submitted on their new generic application form and that it completes by December 31 2004.

Number of new mortgages rising

Some 74% of mortgage intermediaries say they will be arranging more mortgages 12 months from now, says research from TNS. This compares to just 65% of intermediaries surveyed at the same time last year. Confidence was highest among mortgage advisers in the South with 76% of respondents saying they will be arranging more mortgages compared […]

Destini comes to the rescue, buying Lifeboat

Bill Wynn, CEO of Lifeboat, will join Destini&#39s operating board. For Destini, the deal will add £10m to turnover, taking the group size to £30m. David Collett, managing director of Destini Group, says: “The opportunity of bringing the Lifeboat team to Destini is timely as it dovetails with our plan to include a multi-tie proposition […]

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Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.