View more on these topics

Beacon adjusts B2L criteria

Beacon Homeloans has adjusted its buy-to-let product range by adjusting its near prime criteria.

Previously borrowers with County Court judgements over £300 were not eligible for Beacon’s near-prime buy-to-let product.

However, this has been amended and applicants with CCJ’s up to £1,000 now qualify.

Along with this criteria change, Beacon has also reduced many of its buy-to-let fixed rates, allowing those with adverse credit to access rates starting at 5.80%.

Clive Willson, head of sales for Beacon, says: “At Beacon we are dedicated to the packager community and listen to their views.

“We work extremely closely with our business partners and, wherever possible, are able to fulfil their requirements in an ever changing market.”

Tony Hughes, managing director of Pavillion Securities, says: “It is extremely important for us to be able to offer viable product options on sub-prime, as well as prime mortgages and I am delighted that Beacon has reviewed its buy-to-let range in light of this.

“Beacon’s flexible approach to criteria and lending is second to none, it is very pleasing for us to have a close business relationship with a lender that has such a positive approach in supporting the packager market.”

Recommended

Travel agents face same fate as brokers

It seems the Financial Services Authority might soon end up with another sector to regulate – travel agents. In February, the Treasury Select Committee published a damning report on the sale of bundled travel insurance – i.e. policies sold by travel agents with holidays.

haart predicts pre-HIP spring boom

haart estate agents is predicting a spring boom as sellers rush to get their properties onto the housing market before the introduction of Home Information Packs on June 1. Its latest data revealed London house prices stabilised in February, increasing by only 0.1% to £260,375, as buyers remain price sensitive despite a continuing shortage of […]

Newsletter

News and expert analysis straight to your inbox

Sign up