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SMS adds Melton Mowbray near prime range

Solent Mortgage Services now offers a near prime range from Melton Mowbray Building Society’s intermediary arm MBS Lending.

Products are aimed at the near prime to medium adverse market with a maximum LTV of 50%. Variable rates start at 7.50% based on Melton Mowbray’s current SVR of 6% and will suit cases from clients with past arrears, CCJ’s and discharged bankruptcy.

Ian Balfour, chief executive officer of SMS, says: “We are delighted to be in partnership with the Melton Mowbray and be able to offer products which address the needs of intermediaries with clients who have had a struggle in the past but are able to service a new mortgage successfully.

“These products will go some way to showing the market that the intermediary channel really is alive and kicking.”


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This issue marks the fourth anniversary of Lending Strategy which launched in 2006 on a wave of optimism and into a mortgage market that had yet to peak.On our front cover was Richard Pym, managing director of Alliance & Leicester, the former building society which had been the subject of merger rumours because, rather than […]

Investor confidence starts to grow

Purchase activity in the buy-to-let market increased slightly in Q4 2009, as investors start to regain confidence in the market. The Business Mortgage Company’s latest Landlord Profile Tracking Index shows buy-to-let purchases represented 69% of new applicants in Q4 2009, compared with 66% in Q3 2009. In Q4, 70% of applications also opted for a […]

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