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MEX revises criteria for experienced landlords

Mortgage Express has extended its buy-to-let lending criteria to offer en-hanced LTVs to landlords with one year’s experienceIn addition to MEX’s core criteria of up to 85% LTV with 125% rental cover, landlords who have been in the market for a year will have a choice of up to 85% LTV at 110% rental cover or 90% LTV at 125% rental cover.

Gus Park, director of intermediary sales at MEX, says: “This is a significant improvement to our range. The 110% option will be particularly attractive to investors and brokers. We will only offer these deals to landlords who have experience of a year or more in the buy-to-let market.

“We believe that people taking out their first buy-to-let deals should have a bigger safety net, but an increasing number of landlords have significant experience and understand the costs and risks associated with letting out properties. They can operate within tighter tolerances.”


Lib Dems demand social housing

The Liberal Democrats have called on the government to boost Britain’s social housing. The call follows a report by Aberdeen and Loughborough universities, which warned that the housing supply crisis is threatening the younger generation’s future.

Website calls for family homes

Smartnewhomes. com has renewed its call for more family homes as flats continue to dominate the newbuild market. David Bexon, managing director of smartnewhomes. com, says: “The lack of suitable family homes is a serious issue and cannot be ignored.” to offer free sub-prime advice is offering free advice to borrowers with poor credit histories in a bid to grow its presence in the sub-prime market. John Charcol’s online brokerage says sub-prime is a growing market and has estimated that annual lending in the sector is worth about £30bn or 8% of the market. It also says that repossessions […]

S&S brand to keep brokers informed

Stroud & Swindon is planning to launch a specialist subsidiary brand later this year targeting brokers with the promise to keep them in the loop over their clients’ financial situations.S&S, which distributes more than half its mortgages via brokers, says the subsidiary will be technology-driven and will go even further than Accord Mortgages in developing […]


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