World Cup finally brings some English cheer

Mortgage Express has extensively revised its product design in response to intermediary feedback, says David Connolly, the lender&#39s product development manager.

Outlining the merits of ongoing product development, Connolly told the conference both self-cert and sub-prime product criteria had been changed by broker demand. He told delegates: “In sub-prime we amended pricing to compete, upped the procuration fee and simplified the criteria for speedier processing. In self-cert we did away with the accountant&#39s certificate and increased LTV banding.”

And he emphasised the importance of staying up to date with evolving markets. First-time buyers, lifetime mortgages, offset mortgages and Muslim mortgages are some areas of potential that Mortgage Express is keeping an eye on.

Innovative one-offs, such as the Mortgage Express-backed &#39World Cup&#39 mortgage are also a good for business. Connolly revealed that volumes on the World Cup product had “exceeded expectations” although he declined to say by how much.