News

Foundation Home Loans has confirmed that it will continue with a 'business as usual' approach ahead of the PRA changes coming into effect on 30 September

18th September 2017

There will be very little change to the lender’s approach and underwriting criteria, however background portfolios must have a minimum aggregate portfolio LTV of 75%, and a minimum aggregate rental cover ratio of 125%, stressed at 5.5%.

Jeff Knight, director of marketing at Foundation Home Loans, said: "Portfolio landlords already represent around 50% of our business, so unlike other lenders, this is very much business as usual for us and our intermediary partners."

Kensington announces BTL portfolio changes

18th September 2017

The Northview Group has today announced changes to its portfolio buy-to-let lending criteria for Kensington. The changes come ahead of the PRA’s update to underwriting standards for portfolio landlords, which come into effect from 30th September. As directed by the new PRA rules, Kensington will define a portfolio landlord as a borrower with four or more mortgaged properties.

Kensington will update its proposition from 28th September, and will not restrict the total number of properties held in a portfolio, but limit its own exposure to £2 million.

Kensington will offer a standard rental cover from 125% at 5.5% assessment rate, with lower assessment rates offered on its five-year fixed products, starting from 4.5%. Current criteria for landlords with three or fewer properties will remain unchanged. In line with the new regulations, they will require more information on the portfolio via the completion of a portfolio summary, outlining all portfolio properties and a business plan, which outlines the landlord’s plans for the portfolio.

Steve Griffiths, Director of Sales and Distribution, The Northview Group, said: "These latest changes from the PRA form part of a wider regulatory update to the buy-to-let market. Whilst the portfolio landlord sector is increasingly complex, there are many landlords out there that continue to require support from lenders for their buy-to-let plans.

"With over 15 years of experience in the buy-to-let sector, the Group is there to support professional landlords following the PRA’s changes. This newly updated proposition reflects that commitment to both parts of this market, those with fewer properties and the experienced professional landlords that want to build on their existing portfolios."

FHL raises maximum BTL loan size to £1 million

18th September 2017

Foundation Home Loans is increasing the maximum loan size across its buy-to-let range in response to increasing demand.

With immediate effect, the maximum individual loan size increases to £1m for loans up to 65% LTV. For loans up to 75% and for HMOs, the maximum loan size remains £500,000.

Foundation Home Loans recently launched an HMO product to expand its buy-to-let offering and has removed the £500 processing and administration fee for buy-to-let applications from limited companies.

Jeff Knight, Director of Marketing at Foundation Home Loans, said: "We have been receiving an increasing demand from intermediaries for larger loan sizes, so this is a simple move in response to that. As a growing specialist intermediary lender, we will continue to identify ways to expand our product proposition to the market."

Vida Homeloans Re-introduces Limited Edition Product Ranges

18th September 2017

Vida Homeloans have introduced their 'Limited Edition' range of residential and buy-to-let mortgages up to a maximum of 70% LTV, offering their lowest ever rates of 2.69% for residential business and 3.14% for buy-to-let business. Vida is committed to offering flexibility and value to both residential and buy-to-let customers, and the Limited Editions range is part of that commitment.

New Residential Limited Edition 70% LTV products on 2 and 5 year fixed rates

  • From 2.69% for 2 year fixed rate
  • 2.99% for 2 year fixed rate Fee Saver (No product fee; valuation fee refund up to £650; free standard legals on remortgages)
  • Maximum loan £1m

New Buy to Let Limited Edition 70% LTV products on 2 and 5 year fixed rates

  • From 3.14% for 2 year fixed rate
  • 3.64% for 5 year fixed rate
  • Maximum loan size of £750k for Limited Edition

More Buy to Let Highlights

  • Maximum for all other BTL loans increased to £750k
  • Maximum portfolios with Vida increased from £1.5m to £2m

Precise Mortgages to do the Heavy Lifting on Portfolio Underwriting

4th September 2017

Precise Mortgages, the specialist lender has announced its approach to Portfolio Landlords ahead of the implementation of phase two of the PRA’s underwriting standards due on the 30th September.

Central to the lender’s proposition is the creation of a Portfolio Team whose role is to do the heavy lifting for mortgage intermediaries and to help with the additional information required by the new regulations.  The additional information required will be a Business Plan, Assets and Liability Statement and details of the existing residential property portfolio.

Highlights of the proposition are:

  • There are no changes to the DIP or application systems.
  • There is no need for mortgage intermediaries to key the existing portfolio into the lender’s systems.
  • Additional information can be supplied in any format including the lender’s own forms.
  • The Portfolio Team will input the additional information into the lender’s systems.
  • Once the Portfolio Team have input the existing portfolio it will remain valid for six months making future applications more straightforward.
  • The lender has built an in-house portfolio platform that will help assess the existing portfolio and includes the use of AVMs to calculate LTVs and ICRs.

The lender’s criteria is largely unchanged with the exception that the existing residential portfolio may be subject to interest rate stressing depending on the assets and liabilities of the landlord.  Typically the interest rate stress will reflect the new business market in terms of customer type and ICR calculations.

Criteria Highlights Unchanged:

  • Up to 20 buy to let mortgages with the lender subject to a combined maximum of £5m.
  • No limit on size of existing portfolio.
  • Licensed and unlicensed HMOs accepted up to 8 bedrooms with separate ASTs.
  • On Ltd Company applications no limit on the number of director dependant shareholders under the age of 25.
  • Bespoke ICR calculations on new applications to reflect the landlord’s tax position.

The new forms referenced above will be available on the lender’s website week commencing 25th September.

Managing Director Alan Cleary said: "We thought long and hard about how we could minimise the disruption to the mortgage intermediary and to the landlord whilst meeting the new requirements and have invested a significant amount of money and resources to make sure that we take as much of the burden as possible."

Fleet Mortgages on PRA Changes

24th August 2017

Fleet Mortgages has pledged to leave its key criteria and underwriting requirements unchanged when the Prudential Regulation Authority changes hit the market at the end of September.

The lender, which isn’t bound by PRA regulation, won’t expect applicants to key in details of all the properties in their portfolio and said it will focus on quickening up processing times.

Fleet's income coverage ratio will remain at 125% at 5%, applicants will still have access to portfolio landlord underwriters and it already has an online system to deal with portfolio landlord lending.

Bob Young, chief executive of Fleet Mortgages, said: "The PRA underwriting requirements will mean significant changes to many lenders' systems and process, and an increase in complexity and workload for advisers.

"Our aim however is make sure the opposite is true when it comes to dealing with Fleet Mortgages - we have outlined our key commitments which mean no extra work required or extra information requested.

"Advisers who have conducted portfolio landlord business with us will see that our proposition is all about simplicity, flexibility, confidence and consistency. "We have therefore worked on our processes to deliver on this and advisers should notice the difference between our requirements and those of our peer group."

Of Fleet’s total business 56% is with portfolio landlords.

New discount products from Dudley Building Society

24th August 2017

Dudley Building Society has launched four new discount for term products for all Partners and their clients.

Summary of Product Changes:

  • Two products are for mortgages up to 50% LTV offering a 2.5% discount from SVR to give you a rate of 2.49%
  • Two products are for mortgages up to 90% LTV offering a discount of 1.8% from SVR to give you a rate of 3.19%
  • Remortgage products offer a free valuation and fee assisted legals

Additional Changes:

  • Dudley has now removed the LTV cap linked to loan amounts across the whole product range - so loans up to a million would no longer see the LTV capped at 75%.
  • The affordability calculator has been updated

With manual underwriting already in place, The Family Building Society supports the PRA's decision that a specialist underwriting approach is needed.

PRA Portfolio Landlord Changes from The Family Building Society

24th August 2017

Where an application is received for a BTL portfolio landlord, the Family will consider lending on one or two of the properties. Any additional properties would need to be presented to another lender.

All borrowers who have four or more mortgaged BTL properties will be considered a portfolio landlord and in such cases, the following information will be required:

  • The applicant’s experience in this sector
  • Their existing portfolio and outstanding mortgages (for example how long they’ve held their portfolio, how many properties they have and what equity they retain)
  • Their total assets and liabilities
  • The merits of any new lending in the context of their existing portfolio, together with their business plan
  • A detailed analysis of their cash flows associated with all their properties

With manual underwriting already in place, The Family Building Society supports the PRA's decision that a specialist underwriting approach is needed.

New HMO and MUB proposition

9th August 2017

Foundation Home Loans have launched 2 and 5 year fixed rate products to support Houses in Multiple Occupation and Multi-Unit freehold blocks.

The key criteria points are:

  • HMOs up to a maximum of 8 bedrooms accepted
  • MUBs up to a maximum of 10 flats/units accepted
  • Minimum property value £75K
  • Rates from 3.19%
  • No pricing differential for limited companies
  • Any required Local Authority licences must be in place before completion
  • There are no additional fees for HMOs/MUBs and the rental calculations are as for their standard products

Great New Criteria from Magellan

9th August 2017

Magellan has improved criteria for first time buyers or other buyers who need some flexibility with affordability.

With rates from just 2.96% they now accept:

  • Family gifted deposit and undervalue sales accepted;
  • Builder gifted deposit accepted;
  • Affordability calculation allows up to 40% debt to income;
  • Long term state benefits accepted;
  • Terms of up to 35 years to age 75;
  • Pension contributions and share save contributions added back into income;
  • Adverse credit accepted.

Summer Sizzlers from Foundation Home Loans

1st August 2017

Foundation Home Loans has launched limited edition buy-to-let products only valid this summer.

Rates are just 2.99% with a 2% arrangement fee or 3.39% with a £995 arrangement fee.

  • £50K minimum loan
  • £500K maximum loan
  • No maximum age for limited company applicants
  • Rates from 2.99%
  • Rental calculation is 125% x pay rate for limited coampanies and 145% x pay rate for individuals

Send your cases in to us now or call for more information on 0161 694 7800.

Four Applicant Mortgages from Magellan

1st August 2017

Magellan Homeloans has announced that it will now offer mortgages for up to four applicants.

The enhancements apply to Magellan's Complex Prime and Credit Repair ranges and are in response to a growing number of people pooling their incomes with friends and family as house prices continue to rise.

Jason Neale, Sales Director at Magellan Homeloans, said: “As a specialist lender with flexible underwriting, we are often approached to find solutions for borrowers who are struggling to qualify for the strict affordability rules of high street lenders.

"Quite often there is scope to include multiple applicants and the overall household income when assessing affordability, so we are delighted to now include up to 4 applicants and their respective incomes on all applications. This coupled with our other innovative criteria and new mortgage portal – the Magellan Hub, will ensure Magellan remains first choice for flexible, affordability solutions."

Getting back to Family Values

31st July 2017

Here is a reminder about The Family Building Society:

Buy to Let:

  • Maximum LTV for Buy to Let is 70% on their 5 year fixed product.
  • Cases considered even when your clients have a number of other Buy to Let mortgages with other lenders.
  • Buy to Let Offset Mortgage – a new product that caters specifically for those who want to make better use of their savings.
  • Limited Company Buy to Lets offered.
  • For like for like remortgages with no additional borrowing, this lender will use a lower interest coverage ratio of 130% or 135% (depending on the applicant’s LTV) using their Residential Investment Managed Mortgage Rate, currently at 5.29%. Please note that arrangement fees, professional fees and administration costs can be added to the total remortgage amount.

Manual underwriting:

Just because your clients don't tick other lenders’ boxes, doesn't mean this lender won't consider them. Their manual underwriting philosophy means they take the time and trouble to look at every case individually and don't rely on a computer to make lending decisions - they use real human beings to do that!

It makes a big difference to the borrower and helps you write more business.

  • They’ve no set maximum loan amount.
  • They consider each individual case on merit.
  • They don’t credit score.
  • They’re able to consider those with bankruptcy orders and County Court Judgements, provided they haven’t occurred within the last three years.

Expat

With the appeal of greener pastures abroad for many clients, this lender is able to cater for your client’s mortgage requirements back home.

  • They provide mortgages for expats in a wide variety of countries such as Australia and the US.
  • Expat mortgages are available on an Owner Occupier and Buy to Let basis.
  • They can offer interest only mortgages to UK nationals working abroad with families remaining in the UK.
  • They also lend to UK nationals working in the UK but who are paid in a foreign currency. Mortgages are available on an interest only basis and the repayment vehicle must be from a Sterling denominated UK asset.

Improved Criteria for the Sef Employed and Contract Workers

27th July 2017

Magellan have launched new and improved criteria for clients who are self-employed or contract workers.

With rates from just 2.96%:

  • Minimum trading history is just 12 months;
  • Last year’s income figure used for affordability;
  • Overall share of net profit plus salary used;
  • Discretionary spending such as pension and health scheme contributions added back in;
  • Tax allowances can be added back in for affordability;
  • Capital raising for any legal purpose allowed;
  • Zero hours, fixed term and agency contracts considered;
  • Adverse credit accepted.

Give us a call to discuss your cases on 0161 694 7800.

Precise Mortgages BTL Exclusive

26th July 2017

A reminder about our fantastic Adverse BTL Exclusive that only ties clients in for 3 years even though it is a 5 year fixed rate and therefore can calculate on payrate.

This truly versatile product is also available for LTD Companies. Highlights of the range include:

  • Only a 3 year ERC
  • Rental calculation based on PAYRATE
  • Unlimited unsecured credit arrears
  • Historic defaults & CCJs considered
  • LTL Company OR traditional BTLs
  • First-time landlords acceptable
  • No minimum income
  • Unlimited capital raising available even to raise cash for future purchases or debt consolidation
  • Children shareholders acceptable up to max age 24 (must be dependents of directors)

Property quirks

  • Houses & flats up to 20 stories considered
  • Properties next door to each other considered
  • Lease extensions on completions acceptable

New Products from Fleet Mortgages

26th July 2017

Brand new BTL products have been launched today from Fleet Mortgages. These have limited availability and are as follows:

The first is a 2.59% two-year fixed rate mortgage, available up to 75% LTV with a maximum loan of £200k. This is the lowest rate offered by Fleet Mortgages this year!

The second is also a two-year fixed rate mortgage, available up to 75% LTV for loans over £200k, offered at a rate of 3.09%.

The third product is also available in the Standard range and is a five-year fixed rate product at 3.79%, up to 75% LTV. It also has an ICR of 125% at 5% for any rate tax-payer, a 1% fee and a revert rate of 5.07% (LIBOR plus 4.75%).

Finally, Fleet Mortgages is offering a LIBOR-linked lifetime tracker in its HMO range. The rate is 3.92% and is available up to 75% LTV, with an ICR of 125% at 5%, and comes with a 2% fee

They offer hassle free buy-to-lets:

  • Portfolio landlords accepted
  • Limited Company buy-to-lets available
  • Portfolio landlords
  • Ex-local Authority Properties
  • Blocks of flats on a single freehold - up to 10 units
  • Maximum age 85 at end of mortgage term
  • Multiple sources of income accepted (including rental)

Call now to find out more on 0161 694 7800

Help to Buy from Precise Mortgages

11th July 2017

A new Help to Buy range has been launched from Precise Mortgages.

  • Rates from 3.74% up to 75% LTV
  • Tracker, 2, 3, and 5 year fixed rate products
  • CCJs and Defaults considered
  • Up to 5% builder incentives accepted

Included in this product launch is the introduction of allowing active and recently satisfied DMP’s on Tier 4 and 5 Help to Buy products.

The products are below.

  • 2 Year Tracker with rates from 3.74% and fees from £0
  • 2 Year Fixed with rates from 3.74% and fees from £995
  • 3 Year Fixed with rates from 3.84% and fees from £995
  • 5 Year Fixed with rates from 4.19% and fees from £995
  • All products have a Refund Valuation
  • Tier 2 products allow DMPs satisfied over 36 months
  • Tier 4 and 5 products allow Active and Recently satisfied DMP’s

Great news! Missed Payment Criteria Changes

5th July 2017

Bluestone Mortgages has made changes to the way they view missed payments and now only consider the number of missed payments rather than the worst status.

Here's a real life case study to illustrate how this will help you help more customers.

'Mr F was made redundant 4 years ago and as a direct result was unable to make all his mortgage payments. Although he made small payments during this time and his account is now up to date, his credit report showed a Status 3 in the last 12 months and Status 6 within the last 13-24 months.

Previously Bluestone would have declined this application as they would have classed the status 3's within the last 12 months as a missed payment and allowed for a maximum of status 4 in months 13-24.

As payments have been made continually in last 12 months and Mr F has only missed one additional payment in months 13-24 they're happy to approve this application on their AAA Product range.'

If you've got an enquiry or something similar sitting on your desk and you’d like to talk it through, give us a call today on 0161 694 7800.

Further Rates Reductions from The Mortgage Lender

5th July 2017

The Mortgage Lender has reduced its five-year fixed rate products in Tiers 1-6 by up to 0.71 per cent, with its lowest five-year rate now 3.25 per cent.

The Mortgage Lender sales and marketing director Pete Thomson said:

"Uncertainty around Brexit and what it will mean for the housing market and interest rates means five-year fixed rates are becoming more popular. Reducing our rates makes us more competitive in this segment of the market and will help brokers source competitively priced products for people who don’t traditionally fit the high street."

These five-year rate reductions are effective from Wednesday 5th July and sit alongside a repricing of the Tiers 7-9 range.

To highlight its competitive positioning in the market The Mortgage Lender is asking brokers to #ChallengeTML for its lowest rate and certainty that the rate quoted on a successful decision in principle is the rate a customer will receive at offer.

One in three of its borrowers qualify for its lowest rate, currently 1.89 per cent and 98 per cent of its offers are on the same product rate as the decision in principle.

Precise Mortgages Buy to Let Core range has a new minimum loan size!

5th July 2017

It has been reduced to £50,000 on their core/individual BTL range - great news for landlords!

Highlights of the Core BTL range include:

  • Minimum loan size now just £50,000
  • No minimum income (must be able to cover rent voids for 3-4 months)
  • No bank statements (unless adverse credit on Tier 2/3)
  • No proof of income required (unless basic rate tax payer then ONE payslip)
  • Rates available on payrate
  • Packager exclusive - Pay rates & ONLY a 3 year tie-in
  • Non owner occupiers acceptable
  • Unlimited debt consolidation up to and including 80% + Lender Fees
  • Can consider houses next door to each other
  • Can consider same name leaseholder/freeholder

Opportunities with Precise Mortgage HMO products

28th June 2017

Remember Precise Mortgages HMO rates are from only 3.19% and are a great opportunity for landlords looking to explore new options such as professional house shares.

  • Licensed and unlicensed HMOs accepted
  • Separate ASTs accepted
  • Up to 8 bedrooms accepted
  • Choice of tracker or 2, 5 and 10 year fixed rate products
  • £1m maximum loan size
  • Up to 80% LTV

Pepper Homeloans residential rates cut!

28th June 2017

If you have clients in need of a mortgage but they've failed high street credit scores due to CCJs or defaults on their record from over 48 months ago, Pepper Homeloans could have a solution. Pepper has newly refreshed 2 year and 30 month Residential NP products, now with lower rates!

Their competitively priced rates for these kinds of interesting cases are some of the lowest for clients who marginally fail a credit score.

So here's the offer:

NEW Product Level: Rates from just 2.28%

  • Aimed at your clients with no CCJs or defaults in the past 48 months.
  • Available on both their 2 Year and 30 Month Fixed Rate products.

Rates slashed on some existing products

  • They have cut rates across their shorter term fixed NP1 and NP2 products.
  • For those with no CCJs or defaults in the past 24-36 months.

Reduced completion fees

  • Completion fees for their 2 Year Fixed Rate NP products have also been reduced to £895.
  • Or you can pay £995 for an extra 6 months on their 30 Month Fixed Rate products.

Kensington Mortgages has launched a Help to Buy equity loan range

28th June 2017

Kensington Mortgages has launched a Help to Buy equity loan range to help first-time buyers in England and Wales.

The Help to Buy products begin at 3.64 per cent at 75 per cent LTV for a two-year fixed rate. Rates are 3.99 per cent for a three-year fix and 4.24 per cent for a five-year deal. All loans have a £999 fee and free valuations.

The maximum loan amount will be driven by the maximum property value available on the Help to Buy scheme, which is currently £600,000 for England and £300,000 for Wales.

Northview Group director of sales and distribution Steve Griffiths says: "Last month, Kensington announced its intention to enter the Help to Buy market, and as a lender that is dedicated to helping customers with complex circumstances, we are very pleased to announce that our products are now live."

Kensington Mortgages has also updated its residential new build range, with new five-year fixed rates starting from 3.74 per cent at 75 per cent LTV.

Buy to let packager exclusive available now with SMS and Precise Mortgages

28th June 2017

Following the release of their new buy to let range, Precise Mortgages has now added an exclusive. SMS now has the ONLY Tier 3, 5 year fixed rate with a 3 year ERC from Precise Mortgages. This 5 year product is calculating at pay rate to ensure maximum affordability.

Highlights of the product include:

  • 4.39% pay rate (Rental assessed at PAYRATE)
  • 5 year Fixed with ONLY a 3 year ERC
  • Adverse allowable including unlimited unsecured credit arrears
  • Available to Individual (core) BTLs & Ltd Company BTLs
  • Unlimited capital raising/debt consolidating (even if unencumbered)
  • Up to 20 properties with Precise, Unlimited with other lenders
  • No proof of income usually required (Unless individual BTL PLUS a basic rate tax payer then ONE payslip if employed, Latest Tax Calc if self employed)
  • Max 75% LTV + Lender fees

NEW Specialist BTL Criteria from Together

15th June 2017

Together has announced new specialist buy-to-let criteria designed to support expats, clients with adverse credit history and first time buyers.

Properties include: HMOs, portfolios, semi commercial property up to 65% LTV OMV

Product Features

  • First Charge - up to £2million mortgages available
  • Second Charge - £500,000 mortgage available
  • Tiered ICR coverage from 125% available
  • No minimum income requirement
  • Limited company applications accepted
  • Adverse considered, and ignored after 12 months and No credit score
  • Fixed rate option, Interest only and capital and repayment options available
  • 1st Time buyer accepted
  • Minimum valuation £60,000
  • Expat, and foreign national applicants accepted

New buy-to-let expat range from Vida Homeloans

13th June 2017

Specialist intermediary-only lender Vida Homeloans has introduced a new ‘Vida Expat’ buy-to-let mortgage range.

The range was designed with input from BTL brokers and networks and is targeted at existing UK property owners living abroad who wish to invest in property in the UK.

Maximum loan sizes are £1m for current UK BTL landlords and £500,000 for first-time landlords. Maximum LTV is 75 per cent and there is no minimum income requirement or employment restrictions.

Rates start at 3.89 per cent variable for a two-year tracker and 3.99 per cent for a two-year fixed deal.

Applicants can reside in any country worldwide as long as it is a Financial Action Task Force (FATF) member country.

Limited edition range from Pepper Homeloans

13th June 2017

We would like to take the opportunity to remind you about the Limited Edition Residential 5 Year Fixed Rate product from Pepper Homeloans, which was designed for borrowers who have failed high street lenders' credit scores.

Highlights include:

  1. Rates start from 2.88%
  2. Provides borrowers with peace of mind that monthly payments won't change over the 5 years
  3. Free legals on all remortgages
  4. All applications are manually underwritten - we don't use credit scoring
  5. Five year fixed products could be an option for those who need to borrow more

DIP now with 1APP or call 0161 694 7800 to find out more.

Bluestone Mortgages has made some exciting changes

6th June 2017

Bluestone Mortgages has made some exciting changes to their product criteria and procuration fees and reduced their rates!

Highlights include:

  • Bankruptcy & IVA now back in stock
  • Max LTV now 85% for Residential and 80% BTL
  • LTV limits increased for A, BBB adverse categories
  • £180 admin fee removed
  • New 2 & 5 Year Fixed Rates
  • 3 Year & Variable Rates reduced
  • Fees Assisted Remortgages with no rate increase
  • No more than 2 jobs in 2 years rule removed
  • Max loan now £1m
  • Valuation Fees reduced

Give SMS a call on 0161 694 7800 or DIP through to us via 1APP now.

TML offers £250 extra procuration fee

1st June 2017

In July TML will celebrate their first year since launching as an intermediary-only lender.

For a limited time they are offering an additional £250 procuration fee per completed mortgage application on all products within Tiers 1-6, excluding fees-assisted remortgage range.

The enhanced procuration fee will apply to applications submitted between 1st June and 31st August 2017, and will be paid on completion. It is payable on applications that are submitted via approved partners including Solent Mortgage Services and does not apply to direct submissions.

This new initiative marks the latest phase of the #ChallengeTML campaign, which aims to raise awareness of their proposition in the market by inviting intermediaries to challenge them to offer their clients a better deal or to improve the products and service offered.

Some of the highlights from the #ChallengeTML campaign:

  • Rates from 1.95%
  • Over 98% of offers made are issued on the same or better product rate than was applied for

Lending criteria aimed at helping the self-employed, contractors and borrowers with an imperfect credit history. Send your DIPs through now to take advantage of this great offer. Click here to go to 1APP

TFC Homeloans and Solent Mortgage Services Ltd in merger deal

22nd May 2017

We are delighted to announce we have completed a merger deal with packager TFC Homeloans.

The merger marks a key stage in TFC and Solent Mortgage Services’ ambitious growth strategies and has created one market leading organisation with one of the strongest distribution models in the U.K

Managing director of SMS, Ian Balfour, will become director of sales and marketing across both SMS and TFC, reporting to managing director Nigel Payne.

Payne said: "Solent Mortgage Services is a hugely respected packaging business and fits perfectly into TFC's long-term growth strategy.

"Ian is also one of the most experienced and skilled professionals in the specialist lending sector. We can’t wait to have him working alongside us to build the UK’s most trusted mortgage packager."

Balfour added: "By cementing two of the country’s most experienced and well-respected distribution brands, we are building a market-leading business to grow in the ever-changing packager, distribution and specialist sector."

"SMS and TFC have had a close working relationship for 15 years, even down to sharing the same pioneering mortgage technology. We have distinct but complementary skills, expertise, and distribution networks.

"And we share a bold strategy to create a strong, efficient packager that is trusted by clients, brokers and lenders."

Mick Ramage, managing director of Hoyl Group, said: "We have owned Solent Mortgage Services since 2008 and are pleased to announce that we have agreed this deal with TFC Homeloans - an organisation which is the perfect fit at the right time. We will retain an interest in the overall group and are excited about its future plans."

New Special offer from FHL

18th May 2017

A new special offer product has launched today from Foundation Home Loans

Summary:

  • 2 year fixed rate at 2.89%
  • Single tier at 75% LTV
  • Available to individuals and limited companies
  • Available only on our Standard (Prime) product criteria *
  • £200,000 minimum loan size
  • 1% arrangement fee

* NOT available on specialist (light adverse)

Click here for more information

Fantastic New Limited edition Products From Pepper

11th May 2017

BTL

  • 2.98% 5 Year Fixed Rate
  • Up To 75% LTV
  • Rental Calculation 140% at Pay Rate
  • Completion Fee 1.75%

Residential

  • 5 Year Fixed Rates From 2.88% to 75% LTV, 3.68% to 85% LTV
  • 85% LTV to £750k, 75% LTV to £1m
  • No Extra Stress On Affordability

Remember!

  • No Up Front Or Assessment Fees
  • No Credit Scoring
  • No Automatic Cascade
  • Loans up to 75% LTV - £1m For BTL,
  • Debt Consolidation Remortgages - 85% LTV
  • Free Standard Legals On Remortgage

Click here for more information

Magellan Homeloans launches a Fee Assisted Packager exclusive product range.

3rd May 2017

The deals are available across Magellan's range of Complex Prime products and include a free valuation (up to £600), free legal fees on all remortgages, a £450 cashback on all purchases and the ability to add completion fees to the loan.

The Complex Prime range offers an edge in terms of competitive pricing that also benefits from our manual underwriting approach and flexible borrowing criteria.

As a reminder, Magellan’s innovative Complex Prime product range can accommodate borrowers:

  • With a credit score decline who would benefit from a flexible underwriting approach, including self-employed borrowers with a 12 months trading record
  • Proving they can manage their financial circumstances but have minor adverse marks on their credit file including arrears, CCJs and defaults
  • Trying to resolve historic credit problems including those with a current or recently satisfied Debt Management Plan
  • With a complex employment status including zero hours, agency and fixed-term contracts
  • Benefiting from family provided undervalue sales and gifted deposits

The Complex Prime product range offers:

  • Up to 85% LTV
  • Rates starting at 2.99%
  • 2 and 3 years fixed rates
  • Variable rates with No ERC's
  • Affordability based on reversionary rates

Remember, Magellan Homeloans manually underwrites each application on its own merits and doesn't use credit scoring.

Our Helpdesk is available to discuss your cases NOW.. Call us on 01329 245800.

SMS are excited to announce a reduction in our EXCLUSIVE KENSINGTON MORTGAGES 90% LTV products.

27th April 2017

The fixed rates now start at just 3.84% for a 2 year product and 4.34% for the FEES FREE Option which includes a Free Valuation & Legals on a Remortgage.

We can offer a range of 2,3 & 5 year Fixed rates at 90% LTV.

Lookout for these products on your Sourcing System, they will be listed as '1APP@SMS Kensington'.

Remember, Kensington Mortgages are great for the following reasons:

  • No Credit Scoring
  • Self Employed accepted with only 1 years trading even at 90% LTV
  • 100% of Bonus Income considered
  • Varying amounts of adverse credit considerd
  • On Site BDM/Underwiter at SMS office every Monday

CLICK HERE to find out more about these Products.

Our Helpdesk is available to discuss your cases NOW.. Call us on 01329 245800.

SMS are delighted to announce a reduction across both specialist product ranges offered by MAGELLAN HOMELOANS.

26th April 2017

Their fixed rates and No ERC Tracker rates have been cut. Particular emphasis is on their M2 product, at 85% LTV banding which brings a great reduction of 1.01% on a 2 Year Fixed Rate and a reduction of 0.99% on the Tracker rate.

Remember , Magellan Homeloans are great for the following reasons:

  • No Credit Scoring
  • Self Employed accepted with only 1 years trading
  • Complex Income case
  • Contractors Accepted
  • Any Amount of Mortgage Arrears / CCJ’s if cleared over 12 months ago

CLICK HERE to find out more about these Products.

Our Helpdesk is available to discuss your cases NOW.. Call us on 01329 245800.

The Mortgage Lender(TML) Premier Panel Exclusive FTB rates from 2.72% via SMS

25th April 2017

These Exclusive products give you the ability to submit business for First Time Buyers at 85% LTV, where the core range only offers 80% LTV for these borrowers.

TML pride themselves on offering near High Street rates for clients with impaired credit. The products start from as low as 2.72% and schemes are offered across 6 tiers allowing for various levels of adverse credit history.

CLICK HERE to find out more about these Exclusive Products.

In addition, for cases submitted through us, as an exclusive distributor, we can access TML's Premier Panel Service which provides a dedicated underwriting team available for enquiries on all packaged, submitted applications.

Lenders at SMS this week

24th April 2017

Take a look at the lenders at SMS this week.

When: Today - 24th April
Who: Kensington
Products: 90% Packager exclusive

When: Tomorrow - 25th April
Who: TML
Products: 2.41% Two year fixed & 85% Packager exclusive

When: Wednesday - 26th April
Who: Foundation Home Loans
Products: New residential products

When: Wednesday - 26th April
Who: Precise Mortgages
Products: Great packager exclusives

2 Year Fixed Rates from 2.41% available for your declined cases

13th April 2017

Did you know that we have a lender offering fixed rates to compete with the high street?

Standard Residential Mortgage Products -

  • Purchase and Remortgage
  • Standard status borrowers
  • Self employed
  • Lending into retirement
  • Impaired credit
  • Two Year Fixed rates from

2.41% to 75% LTV

3.07% to 85% LTV

These rates will allow up to one missed payment in the last 24 months

For full details either call SMS on 01329 245800 or CLICK HERE for the product guide

Family Building Society has launched its Buy to Let Offset Mortgage

23rd March 2017

If you have any questions or cases then please call 01329 245800 where our on-site FBS underwriter can give you the answers needed!

Additional information for the Offset Mortgage

  • Maximum offsetting available is 100% of the mortgage.
  • Borrower required to open & maintain one linked Offset Saver in same names until the mortgage is redeemed or until the customer switches to a non-offset product, whichever is sooner.
  • Up to three additional Offset Savers can be linked to an Offset Mortgage.
  • Direct family members (borrower’s spouse, parent(s), parent's sibling(s) or Borrower's grandparent(s) including step and in law’s) may hold an Offset Saver account.
  • Lump sum capital repayments are allowed ERC free up to a maximum of 10% per annum. Regular monthly overpayments are not allowed.
  • Applications will be accepted on either a capital repayment or interest only basis.
  • Term reduction available on a capital and repayment basis only.
  • Payment reduction available on either a capital and repayment basis or an interest only basis.
  • Available for purchase and remortgage up to 65% LTV.
  • Minimum loan amount £45,000.
  • Interest calculated monthly.
  • Standard buy to let lending criteria applies.

Please refer to the SMS helpdesk 01329 245800 or helpdesk@sms-uk.co.uk for more details.

Are you aware of these Superb Precise packager products available via SMS

15th March 2017

Packager Core guide (Residential) – 1% Cashback flyer

1% cashback payable on completion. Adverse allowed up to 5 defaults and 3 CCJs within 24 months

Click here to see the guide

BTL 1 year Fixed Shared exclusive

Landlords with less than perfect credit profiles - Available to individuals and Limited Companies -Available for purchase and remortgage

Click here to see the guide

Residential Packager exclusive flyer

Fixed rates reduced by 0.50% in comparison to core range Customers with less than perfect credit profile

Click here to see the guide

Pepper to Distribute Mortgage Products via Solent Mortgage Services

10th March 2017

Pepper Homeloans, the specialist lender, has extended its distribution network to include Hampshire based Solent Mortgage Services.

Solent will market Pepper Homeloans' full range of residential and buy-to-let mortgage products that have been designed for clients who experience difficulties obtaining a mortgage via a high street lender.

Rob Barnard, Director of Sales at Pepper Homeloans, said: "We're delighted to be adding SMS to our distribution network and are looking forward to working with them and their brokers over the coming months."

Ian Balfour, CEO at Solent Mortgage Services, said: "Pepper has been making a big impact on the specialist lending market and its combination of competitive products, accommodating criteria and personal underwriting rather than credit scoring, make it a compelling proposition for brokers and their clients."

Pepper Homeloans launched into the UK intermediary market in 2015 and enhanced its entire range of residential mortgage products in January this year, which now include a choice of 2-year, 30-month, 3 and 5 year fixed rates and 2-year discounted tracker products.

To see Pepper's USPs, click here

Free Legal Fees

2nd March 2017

Q. Are you a DA broker who uses Precise for remortgages?

Q. Would you like to offer Free Legals on these cases?

Q. Would you like to include disbursements and transfer of equity for free too?

Q. Would you still like to earn 0.5% commission on each case paid weekly?

Q. Would you like to take advantage of this great offer?

FIVE then just click here to see how easy it is!

Brand New Exclusive & Fee Free Remortgages From Solent

22nd February 2017

Residential Packager Exclusive Fixed Rates

A range of enhanced 2-year and 5-year fixed rates in Tier 4. These products give access to a range of Tier 4 fixed rate products at the same initial rate as the current Tier 3 (that’s a 0.50% rate reduction); this effectively means that your customer will not cascade lower than a Tier 3 rate based on their score.

  • 2-year and 5-year fixed rates
  • Tier 4 products at Tier 3 rates (0.50% rate reduction)
  • Available up to 85% LTV

Click here for more details.

Residential Remortgage Specials

A range of 5-year fixed rate products that offer a new option for customers who want to re-mortgage. These products have zero product fee, refund of valuation and free legals, available up to 85% LTV with rates starting from 4.49%.

  • 5-year fixed rates starting from 4.49%
  • Remortgage only
  • £0 product fee, refund of valuation, free remortgage legal service
  • 85% LTV

Contact us NOW to find out more about these and other market leading products available via Solent Mortgage Services

With immediate effect The Family Building Society has enhanced its Retirement Lifestyle Booster mortgage to include an optional lump sum available on completion.

21st February 2017

The Family Building Society’s Retirement Lifestyle Booster mortgage, which was first offered to customers in October 2016, has been enhanced following feedback from customers and mortgage brokers.

From today, the Retirement Lifestyle Booster mortgage will offer an optional one off lump sum paid to the borrower on completion. This can be taken alongside the regular monthly advances and repayment of any existing mortgage.

This enhancement gives borrowers the opportunity to do things such as home improvements or take their family on holiday on day 1 rather than waiting for the monthly advances to build up. All cases for this product will still receive a monthly advance however this enhancement means that some will also have a one off lump sum on completion.

The maximum amount of the lump sum will be 2 years’ worth of monthly advances (subject to this amount being ‘left’ after existing mortgage is repaid and 10 years of monthly advances are taken account of).

Ask Jacqui from Magellan if they can turn declines into completions. 01329 245800

14th February 2017

Solent Mortgage Services offers mortgage intermediaries product solutions for your clients who are finding it difficult to access mortgage finance because of their personal circumstances, employment status, past credit history or simply not fitting the strict credit score criteria of high street lenders.

With a manual underwriting approach without any credit scoring, the Magellan Homeloans’ Near Prime and unique Credit Repair product ranges offer you a variety of solutions for complex client circumstances including:

  • Declined by automated credit scoring systems
  • Borrowing beyond state retirement age
  • Limited Company Directors using Drawings + Retained profit
  • Self-employed borrowers with only 1 years’ accounts
  • Employed borrowers with only 3 months in current role
  • Contractors on agency/zero-hours contracts
  • Gifted deposits/equity from close-family/builders
  • Historic adverse credit including Defaults, CCJs, Arrears, IVAs, DMPs & Bankruptcy
  • Debt consolidation for debt repayment & home improvement

The product ranges offer:

  • Up to 85% LTV
  • Rates starting at 3.08%
  • 2 & 3 years fixed rates
  • Variable rates with No ERC's
  • Affordability based on reversionary rates

Don't accept declined cases until you have tried Magellan Homeloans. To get a decision in principle for any future cases that are declined either call SMS on 01329 245800.

Fee Assisted Remortgage now available

24th January 2017

We are delighted to announce the launch of the TML new Fee Assisted Remortgage product range which could help save your customers money - not only on their associated remortgage fees, but potentially on their monthly payments over the initial 2 years.

Fee assisted remortgage is available on 2 year fixed products, across all our product tiers, with rates starting from a competitive 3.41%.

This range offers:

  • free standard remortgage legals when using our nominated solicitors (including associated standard disbursements and VAT)
  • free completion fee
  • free application fee
  • free telegraphic transfer fee, and
  • refunded valuation.

This new range could not only help your applicants with impaired credit, but can also offer an option for applicants currently ‘trapped’ on a High Street SVR due to changes in circumstance. For example, if they’ve:

  • become self-employed,
  • taken on a second job,
  • are paying school fees, or
  • maybe have some credit issues,

they may think they’ve got little choice but to just sit on their current lender’s expensive Standard Variable Rate.

PRA CHANGES - DEADLINE DAY FOR SMS PANEL LENDERS

14th December 2016

 

The Family BS - BTL only
     
Applications Submitted 15/12/2016 by 5pm
     
Dudley BS - BTL only
     
Applications Submitted 15/12/2016 by 5pm
     
Kent Reliance FI - BTL only
     
DIP AIP Illustration Produced 20/12/2016 by 5pm
Applications Submitted 22/12/2016 by 12pm
       
Hinckley and Rugby - BTL only
     
Applications Submitted via Post 21/12/2016 5pm
     

 

Weekly Case Studies

13th December 2016

Each week we will share with you Case Studies from both our own pipeline and our Lenders,
highlighting real cases that we have been successful in placing and completing.

Click below to find out more

 

Case Studies

 

Call the SMS Helpdesk NOW on 01329 245800 to turn your enquiries into cases

 

 

ONLY 2 DAYS LEFT TO AVOID DISAPPOINTMENT- SUBMIT YOUR BTL DIPS ON THIS SMS EXCLUSIVE PRODUCT NOW!

12th December 2016

Very Limited Tranche of Funds for the following Exclusive Remortgage Only BTL product

  • 3.69% Lifetime Tracker
  • Rental Calculation of 125% at 3.69%
  • Remortgage Only
  • Standard & LTD Company BTL
  • 75% LTV
  • Flat Lenders Fee - £2995 Can Be Added
  • 80 years old maximum age at application
  • No Minimum Income or Income proof required
  • No Bank Statements required
  • DIP must be Accepted by 12pm 14/12/2016 (No exceptions)
  • Applications must be submitted by 22/12/2016 (No exceptions)

DON'T MISS OUT - DIP DAY IS COMING - DO YOUR DIP TODAY

CALL OUR HELPDESK NOW ON 01329 245800 TO DISCUS YOUR BTL ENQUIRIES

 

Clare's Lender Focus

9th December 2016

As the Head of Underwriting here at SMS, Clare will share her knowledge of our 20 plus Panel Lenders with you once a week, giving you an insight into criteria, products and news affecting the ever changing mortgage market.

Click below to find out more

Case Studies

 

SMS Launch Weekly Case Studies update

6th December 2016

Each week we will share with you Case Studies from both our own pipeline and our Lenders, highlighting real cases that we have been successful in placing and completing.

Click below to find out more

 

Case Studies

 

Call the SMS Helpdesk NOW on 01329 245800 to turn your enquiries into cases

 

 

ACT NOW - NEW EXCLUSIVE BTL 3.69% LT Tracker with 125% Pay Rate Calculation

5th December 2016

BEAT THE PRA RULES CHANGES - SUBMIT YOUR BTL CASES NOW

SMS have access to a Limited Tranche of Funds for the following Exclusive Remortgage only BTL product

PLEASE NOTE: We are only offering this product to Selected Brokers

  • 3.69% Lifetime Tracker
  • Rental Calculation of 125% at 3.69%
  • Remortgage Only
  • Standard & LTD Company BTL
  • 75% LTV
  • Flat Lenders Fee - £2995 Can Be Added
  • 80 years old maximum age at application
  • No Minimum Income or Income proof required
  • No Bank Statements required
  • DIP must be Accepted by 12pm 14/12/2016 (No exceptions)
  • Applications must be submitted by 22/12/2016 (No exceptions)

This product is available on a first come first served basis - DIP IT TODAY!

 

Clare's Lender Focus - HMOs

1st December 2016

As the Head of Underwriting here at SMS, Clare will share her knowledge of our 20 plus Panel Lenders with you once a week, giving you an insight into criteria, products and news affecting the ever changing mortgage market.

Click below to find out more

Case Studies

 

New Lender Vida Homeloans Available from SMS

25th November 2016

Market leading products and criteria available via SMS.

Vida Homeloans have recently launched in the UK and offer innovative criteria and products.

Restricted distribution so please check if your Network is registered with VIDA Homeloans.

They Specialise in:

Self Employed 1 Year   Ltd Company BTL
Borrowing In or into Retirement   Ex Pats Investing in UK
Impaired Credit   125% Rental Cover
Contractors   HMOs - from 2 to 8 bedrooms
Interest Only   Portfolio Landlords
Residential Rates from 3.14%   BTL Rates from 3.49%

Call the SMS HELPDESK to find out more about how Vida Homeloans can help you and your clients.

CALL US NOW ON 01329 245800

 

Time is running out for Landlords on pay rate rental calculations

24th November 2016

Welcome to Clare's NEW Lender Focus

Welcome to Clare's Lender Focus. As the Head of Underwriting here at SMS, Clare will share her knowledge of our 20 plus Panel Lenders with you once a week, giving you an insight into criteria, products and news affecting the ever changing mortgage market.

Time is running out for Landlords on pay rate rental calculations

The new PRA changes come into force on January 1st 2017 - are your Landlord clients aware?

Click below to find out more

Case Studies

 

Vida Homeloans launch via SMS for TenetLime brokers

23rd November 2016

We are delighted to announce all TENETLIME AR's can now access Vida Homeloans market leading products and criteria via SMS.

Vida Homeloans have recently launched in the UK and offer innovative criteria and products.

They Specialise in:

Self Employed 1 Year   Ltd Company BTL
Borrowing In or into Retirement   Ex Pats Investing in UK
Impaired Credit   125% Rental Cover
Contractors   HMOs - from 2 to 8 bedrooms
Interest Only   Portfolio Landlords
Residential Rates from 3.14%   BTL Rates from 3.49%

Call the SMS HELPDESK to find out more about how Vida Homeloans can help you and your clients.

CALL US NOW ON 01329 245800

SMS Launch Weekly Case Studies update

23rd November 2016

We have been listening to many of our brokers about the type of marketing they would find useful and interesting.

In response to the great feedback we have received, we are delighted to launch the first of our Weekly Case Studies updates.

 

Case Studies

 

Each week we will share with you Case Studies from both our own pipeline and our Lenders, highlighting real cases that we have been successful in placing and completing.

Click on the banner above to see this week's Case Studies and look out for this feature every week as we share with you the real life cases we can help you and your clients with.

Call the SMS Helpdesk NOW on 01329 245800 to turn your enquiries into cases

 

 

10 year fixed rate BTL 125% on pay rate 4.49%

15th November 2016

Great new BTL product

Highlights include:

  • 10 Year Fixed rates from 4.49%
  • 125% rental calculation on pay rate 4.49%
  • Can live in rented property as long as own a property in the background
  • Unlimited capital raising
  • Max 35 year term - must complete before 81st birthday
  • No Proof of income
  • No Bank statements
  • First time landlords acceptable
  • Interest only

 

SMS additional £300 procuration fee

11th November 2016

Struggling with Right to Buy enquiries? Then call SMS to help!

8th November 2016

Right to buy with historic adverse?

Lenders visiting our office this week, Question or Enquiry just call

7th November 2016

LENDERS COMING TO SMS THIS WEEK

Do you have a case that is difficult to place?

Take a look at the USP button on the right and then just call us to see what we can do.

Tuesday
 
 
Wednesday
 
 
Friday
   
Sharon our on-site underwriter

Great 95% Exclusive Product - No Credit Score

3rd November 2016

95% Semi Exclusive - CALL US NOW!!

DO YOU HAVE CLIENTS THAT...

  • Want a Free Valuation and/or Free Legals*?
  • Are contractors and want to benefit from Market Leading criteria up to 95% LTV?
  • Need access to BTL criteria that allows them to have lived in the property and use personal income rather than rental income? (Consumer BTL)
  • Want a 5 Year Discount product starting at 3.79% with NO CREDIT SCORING?

YOU DO...

Good News! We are able to offer all of the above through one lender

Here are some of the Semi Exclusive Product Highlights

  • 3.79% 5 year discount up to 90% LTV plus Free Valuation & Free Legals*
  • 4.29% 3 year discount up to 95% LTV- Exclusively For contractors
  • 4.29 % BTL fixed to 29/11/2019 - consumer BTL allowed

CALL US NOW on 01329 245800

Remember... Clients can't go direct - They have to use you to access these products. These schemes are only available on a very limited distribution basis so don't miss out on this opportunity to access Great Products, with Flexible Criteria and Free Valuations/Legals.

*Free Legals available for like for like remortgages up to a property value of £700,000

Great USPs from our Lenders to help more clients

31st October 2016

Join SMS at their Specialist Lending Workshop

28th October 2016

Join SMS on the 1st november for their specialist lending workshop

What does Specialist Lending mean to you? We need your feedback, so come and talk to us! Specialist Residential, BTL & Second Charge Mortgages - What do you need from this market?

Workshops

       
residential buy to let second charge packager/specialist distributor
       
RESIDENTIAL
MORTGAGES
BUY TO LET
MORTGAGES
SECOND CHARGE
MORTGAGES
PACKAGER/SPECIALIST
DISTRIBUTOR MORTGAGES
       
Click here to register

GREAT NEW PRODUCT call Sharon the lender underwriter at our office now!

27th October 2016

HOT OF THE PRESS - DID YOU SEE THIS GREAT NEW PRODUCT

The Family building Society launch great new product

Underwriter Sharon is in our office so call to find out more 01329 245800

The Retirement Lifestyle Booster is for older borrowers aged 60+ who aren't ready to downsize and want to access equity from their property, and either own their property outright or have a small mortgage outstanding, and have a comfortable retirement income and are looking to benefit from a little extra each month.

Highlights

  • Monthly drawdown mortgage paid in 120 equal monthly payments
  • Interest only loan over a 10 year term - repayment of capital is due at the end of 10 years
  • Acceptable repayment strategy is required e.g. downsizing
  • Interest calculated monthly
  • Monthly payment is level covering the 'average' interest due over the 10 years
  • ERC's payable where mortgage is fully redeemed during the first 3 years
  • Re-mortgage only up to 25% LTV
  • Property must be main residence
  • Minimum loan amount £60,000 if no outstanding existing mortgage to be repaid or, £45,000 if repaying existing mortgage
  • Minimum property value of £240,000 if property is owned outright or, £180,000 if repaying existing mortgage
  • At point of application youngest borrower must be aged 60 or over and, oldest borrower aged 79 or under
  • Can be ported to a new property

Join us at our specialist lending workshops

 

Check out our retirement lifestyle booster

26th October 2016

INTRODUCING THE NEW RETIREMENT LIFESTYLE BOOSTER MORTGAGE FROM SMS

Our research in 2015 showed that some older home-owners worry that their pensions may not be enough to carry on doing what they enjoy - they often want to be able to achieve long held ambitions and help their children and grandchildren from time to time as well. Our new Retirement Lifestyle Booster has been designed to enable older people to do exactly this - practical help for your clients who are 60 or over and whose finances could do with a boost each and every month.

It's ideal for those who aren't ready to downsize but want to access the wealth that's already tied up in their property and either own their property outright or have a small mortgage outstanding.

How does it work?

  • The Retirement Lifestyle Booster mortgage pays the agreed loan to your client as a set monthly amount rather than as one lump sum
  • This is the same amount each month for up to 10 years
  • In return, each month they pay us the 'average' interest due - the interest is variable and the payment may change in future
  • At the end of the 10 years, providing all the payments have been met, all that is owed is what was originally borrowed
  • The loan can then be repaid by downsizing
  • This is NOT a lifetime mortgage

For example, a loan of £60,000 means a regular monthly payment of £500 in return for a monthly payment of £83 to us to cover the interest. And because they are making monthly payments, the interest does not roll up, unlike some equity release plans.

This is a real opportunity for advisers to demonstrate the value they add by considering the Retirement Lifestyle Booster as a tool when helping older people draw on their accumulated wealth. The combination of pension freedoms, later life lending options and low investment returns along with the need for IHT management, make this a key area for advice.

Join us at our specialist lending workshops

SMS application fee refund

21st October 2016

 

Great USPs from our Lenders to help more clients

20th October 2016

 

Specialist lending workshops coming to you!

18th October 2016

Please join me, SMS and meet some of our lenders on the 1st November 2016 at the Holiday Inn Express Portsmouth

I would like to invite you to a more personal local event to introduce SMS, our system 1APP@SMS and to meet some of our lender partners. We would like to discuss and get your input on:

What you need from Specialist Lending

  • Specialist residential (including second charges). What is needed to help clients?
  • The Specialist Buy to Let market, the future as lenders see it
  • 1APP@SMS giving you one input for all lenders and underwrite your cases as you input the data, does this help you?
  • How Specialist lending can support you with more income and your clients with good solutions

SMS Specialist Lending Workshops in your area soon!

PORTSMOUTH 1st November nearly full hurry!

 
Date Location Register
1st November Portsmouth Click Here
 
The following areas will be Week Commencing
 
7th November West & East Sussex, Kent & Surrey Click Here
14th November Dorset, Wiltshire, Somerset, Avon, Devon, Cornwall Click Here
21st November Berkshire, Oxfordshire, Bucks, Beds, Herts & Essex Click Here
28th November Greater London Click Here
 

January dates to follow shortly

We are looking to keep this to around ten to fifteen people at each event so that we can dedicate more time to those attending.

If so then please click below

 

Great USPs from our Lenders to help more clients

17th October 2016

 

A personal invitation, please join me on the 1st November

11th October 2016

Please join me, SMS and meet some of our lenders on the 1st November 2016 at the Holiday Inn Express Portsmouth

I would like to invite you to a more personal local event to introduce SMS, our system 1APP@SMS and to meet some of our lender partners. We would like to discuss and get your input on:

What you need from Specialist Lending

  • Specialist residential (including second charges). What is needed to help clients?
  • The Specialist Buy to Let market, the future as lenders see it
  • 1APP@SMS giving you one input for all lenders and underwrite your cases as you input the data, does this help you?
  • How Specialist lending can support you with more income and your clients with good solutions

Meet 8.30am Coffee and Bacon rolls
9am to 11am workshop - CPD available

We are looking to keep this to around ten to fifteen people at each event so that we can dedicate more time to those attending.

If so then please just email me back on ian@sms-uk.co.uk

Click here for more info

SMS application fee refund

10th October 2016

URGENT - Refund of application fee and new Right to Buy products from SMS

5th October 2016

Two great new enhancements from two SMS Lenders

  • SMS are now refunding our application fee on all TML (The Mortgage Lender) applications received by the 31st October 2016
  • Precise launch great new Right to Buy products

Call SMS today for more details on these and our other products to help you place more cases.

More detail to follow soon, watch this space

Call Joela from Foundation and ask why you should use them for BTL mortgages!

3rd October 2016

Great BTL USPs - To find out more telephone SMS on 01329 245800 and ask the lender direct what they can do for your BTL clients

Criteria highlights include:

  • No minimum income
  • Only require last 3 months bank statements for income proof
  • No maximum age for Ltd Company applications
  • Rental Coverage 125% for Ltd Company applications
  • Limited Company and individual products at the same rates
  • Up to 1 months mortgage arrears
  • Up to £2,000 CCJ (Satisfied)
  • Unsecured arrears allowed
  • Refinance a bridging loan
  • First time landlords

Exclusive via SMS 90% Kensington product USP's

30th September 2016

This is an exclusive product through limited distribution partners only.

  • Purchase and Remortgages are allowed up to 90%
  • Debt consolidation and clients in DMP's are also allowed however their bank statements will need to show A1 conduct.
  • The fee cannot be added over 90% LTV but can be added up to this amount.
  • Self-employed, If over 85%, will require a minimum of 2 years trading (normally only 1 year is required with Kensington) although they will only work off the latest year for affordability purposes.
  • Interest only is acceptable to 50% LTV with a top up on a C&I basis to 90% LTV. (rationale required of which downsizing is acceptable)

National Counties BS are waiting for your questions at SMS

29th September 2016

 
Exclusives* from National Counties Building Society
and SMS
 
Sharon Clarke from National Counties Building Society is our onsite underwriter at SMS. Sharon is ready to answer your questions at our office, call now; 01329 245800
 
 

Just call SMS to see what great products these lenders provide.

*(Semi)

The Mortgage Lender are at SMS call to speak to them

27th September 2016

Ask Jacqui from TML what they can do to help you!

The terms are as follows:

  • Rates starting from 2.18% - 2 year tracker
  • Clean clients, clients with the odd hiccup, IVA's satisfied 3 years ago (85% LTV)/ Bankrupts discharged 3 years ago catered for on 7-9 product Tiers (75% LTV)
  • Self employed - trading for 12 months - we will accept an Accountants Certificate ( no need for SA302'2 / Accounts) up to 80% LTV
  • Self employed - trading 24 months or longer - again we will accept an Accountants Certificate if easier for the client, up to 85% LTV
  • Ltd Co Directors - trading minimum of 12 months (80% LTV ) will use Salary, Dividends and Retained Profit from current tax year
  • Clients who fail affordability with high street - we ignore private school fees and pension contributions
  • Clients in a DMP - we will accept with no requirement to repay the DMP. Please note that we will use the monthly payments as shown on the Equifax report for affordability - NOT the figures agreed under the DMP. However, clients in a current DMP who are looking to capital raise to repay the DMP, the debts being repaid will be ignored for affordability and the offer conditioned for the solicitor to repay
  • PAYE Contract Workers - unless the contract states holiday, we will assume the client will work 52 weeks of the year. So £daily rate x 5 x 52, if the gross salary we will use for affordability
  • 4.5 x salary for single applications / 4 x joint income for joint applications. 100% of second incomes taken in to account
  • Lend to age 70 as standard. Will lend to age 80 next birthday for clients who have private pension income to support the application post age 70
  • Lend in England, Wales and Scotland
  • Ex Local Authority houses and flats up to 75% LTV (flats max of 5 floors in block outside of London / 10 floors inside of London)
  • New Build houses and flats up to 80% LTV (same rules re number of floors in the block as above for ex local)
  • FTB are up to 80% LTV - family gifted deposits accepted
  • Leasehold properties - minimum lease remaining 40 years at end of mortgage term
  • Minimum mortgage term 5 years - maximum is 35 years
  • Unsecured arrears - Tiers 1-3 - can have missed last months payment at time of DIP (max number showing as 1 in the last 24 months) / Tiers 4-6 - can have missed 2 months payments in the last 24 months / Tiers 7-9 - No maximum of number of months missed, as long as the account hasn't Defaulted in the last 6 months!
  • Pay Day loans repaid over 12 months ago acceptable
  • Same products / Tiers available for Purchase and Remortgage
  • Refinancing for debt consolidation, investing into an existing established business, Buying of 2nd home, any legal purpose, etc
  • Competitive panel solicitors fees - acting for the client and TML - Remortgage flat fee of £399 + VAT / Disbursements / Purchase £150,000 to £299,000 (for example) - £574 + VAT / Disbursements
  • Minimum income £15,000 for 1st applicant - no minimum for 2nd applicant

Call Julie today from the Bucks about the 95% Exclusive products from SMS on 01329 245800

23rd September 2016

95% Semi Exclusive Product Launch - Lender On Site Today - CALL US NOW!!

1app@SMS are delighted to announce that Julie from this lender is on site in our offices Today. She is here to support us with the launch of Three New Exciting Semi Exclusive Products by taking your calls to discuss any enquiries you may have. So ask yourself...

DO YOU HAVE CLIENTS THAT...

  • Want a Free Valuation and/or Free Legals*?
  • Are contractors and want to benefit from Market Leading criteria up to 95% LTV?
  • Need access to BTL criteria that allows them to have lived in the property and use personal income rather than rental income? (Consumer BTL)
  • Want a 5 Year Discount product starting at 3.79% with NO CREDIT SCORING?

YOU DO...

Good News! We are able to offer all of the above through one lender

Here are some of the Semi Exclusive Product Highlights

  • 3.79% 5 year discount up to 90% LTV plus Free Valuation & Free Legals*
  • 4.29% 3 year discount up to 95% LTV- Exclusively For contractors
  • 4.29 % BTL fixed to 29/11/2019 - consumer BTL allowed

CALL US NOW on 01329 245800

Remember... Clients can't go direct - They have to use you to access these products. These schemes are only available on a very limited distribution basis so don't miss out on this opportunity to access Great Products, with Flexible Criteria and Free Valuations/Legals.

*Free Legals available for like for like remortgages up to a property value of £700,000

New Exclusives from NCBS/SMS with the onsite underwriter at SMS

22nd September 2016

 
Sharon Clark our onsite underwriter from NCBS/TFBS is awaiting your questions
 

Just call SMS to see what great products these lenders provide.

SEMI EXCLUSIVE'S!

21st September 2016

SEMI EXCLUSIVE

  • Leading Fixed rates for Tier 7 & 8 equivalent adverse
  • Excellent fixed rates from 4.49% on 5 x DFs + 3 x CCJs in last 24 months
  • Unlimited Value on the 5 X DF + 3 X CCJs in the last 24 months (0 in 3)
  • Payday loans considered - even in the last 12 months
  • Unlimited capital raising for any legal purposes (except tax bills)
  • Remortgage probate cases day 1 - Just need probate letter (key DIP as owned 12 months)
  • 1 year self employed regardless of trading period
  • Let to Buy onward purchase and/on BTL - no issues
  • Fixed rates to end dates PLUS enhanced affordability as improved revert rates

SMS Semi Exclusive DMPs

20th September 2016

New Semi Exclusives from SMS

16th September 2016

NEW SEMI EXCLUSIVE - Best fixed rates from our lender on adverse up to 5 DF & 3 CCJs & 24 months

  • Up to 80% LTV + Lender fees
  • Up to 5 Defaults and 3 CCJs in the last 24 months (nil in last 3 months)
  • Adverse does not need to be satisfied
  • No monetary cap (£) on the amount of DF or CCJ
  • Unsecured credit arrears not counted but may affect customer's credit score
  • Unlimited capital raising considered
  • Available to purchases and Remortgages including FTBs
  • Self employed with one year trading considered
  • New build houses and flats considered up to 20 storeys

New Semi Exclusives from SMS

15th September 2016

NEW SEMI EXCLUSIVE - Best fixed rates from our lender on adverse up to 5 DF & 3 CCJs & 24 months

  • Up to 80% LTV + Lender fees
  • Up to 5 Defaults and 3 CCJs in the last 24 months (nil in last 3 months)
  • Adverse does not need to be satisfied
  • No monetary cap (£) on the amount of DF or CCJ
  • Unsecured credit arrears not counted but may affect customer's credit score
  • Unlimited capital raising considered
  • Available to purchases and Remortgages including FTBs
  • Self employed with one year trading considered
  • New build houses and flats considered up to 20 storeys

Lending into retirement - the flexible approach

14th September 2016

Did you know that TML has a flexible approach to lending into retirement?

We will allow applicants to borrow up to age 80 at the end of the term. All lending into retirement assessments will be based on the applicants stated retirement age or 70, whichever is lower.

To support lending into retirement we ask that the applicants retirement income is enough to support the lending requested.

Why choose The Mortgage Lender?

  • Highly competitive amongst the specialist lenders
  • We value broker business and recognise that you too are our customer
  • Innovative product design and underwriting, working with you to help your customers
  • Direct access to underwriters based in Glasgow, with true case management and ownership

The Mortgage Lender are at SMS call to speak to them

13th September 2016

Ask Jacqui from TML what they can do to help you!

The terms are as follows:

  • Rates starting from 2.18% - 2 year tracker
  • Clean clients, clients with the odd hiccup, IVA's satisfied 3 years ago (85% LTV)/ Bankrupts discharged 3 years ago catered for on 7-9 product Tiers (75% LTV)
  • Self employed - trading for 12 months - we will accept an Accountants Certificate ( no need for SA302'2 / Accounts) up to 80% LTV
  • Self employed - trading 24 months or longer - again we will accept an Accountants Certificate if easier for the client, up to 85% LTV
  • Ltd Co Directors - trading minimum of 12 months (80% LTV ) will use Salary, Dividends and Retained Profit from current tax year
  • Clients who fail affordability with high street - we ignore private school fees and pension contributions
  • Clients in a DMP - we will accept with no requirement to repay the DMP. Please note that we will use the monthly payments as shown on the Equifax report for affordability - NOT the figures agreed under the DMP. However, clients in a current DMP who are looking to capital raise to repay the DMP, the debts being repaid will be ignored for affordability and the offer conditioned for the solicitor to repay
  • PAYE Contract Workers - unless the contract states holiday, we will assume the client will work 52 weeks of the year. So £daily rate x 5 x 52, if the gross salary we will use for affordability
  • 4.5 x salary for single applications / 4 x joint income for joint applications. 100% of second incomes taken in to account
  • Lend to age 70 as standard. Will lend to age 80 next birthday for clients who have private pension income to support the application post age 70
  • Lend in England, Wales and Scotland
  • Ex Local Authority houses and flats up to 75% LTV (flats max of 5 floors in block outside of London / 10 floors inside of London)
  • New Build houses and flats up to 80% LTV (same rules re number of floors in the block as above for ex local)
  • FTB are up to 80% LTV - family gifted deposits accepted
  • Leasehold properties - minimum lease remaining 40 years at end of mortgage term
  • Minimum mortgage term 5 years - maximum is 35 years
  • Unsecured arrears - Tiers 1-3 - can have missed last months payment at time of DIP (max number showing as 1 in the last 24 months) / Tiers 4-6 - can have missed 2 months payments in the last 24 months / Tiers 7-9 - No maximum of number of months missed, as long as the account hasn't Defaulted in the last 6 months!
  • Pay Day loans repaid over 12 months ago acceptable
  • Same products / Tiers available for Purchase and Remortgage
  • Refinancing for debt consolidation, investing into an existing established business, Buying of 2nd home, any legal purpose, etc
  • Competitive panel solicitors fees - acting for the client and TML - Remortgage flat fee of £399 + VAT / Disbursements / Purchase £150,000 to £299,000 (for example) - £574 + VAT / Disbursements
  • Minimum income £15,000 for 1st applicant - no minimum for 2nd applicant

95% Contractors - Semi Exclusive

12th September 2016

95% Semi Exclusive Product Launch - Lender On Site Today - CALL US NOW!!

1app@SMS are delighted to announce that Julie from this lender is on site in our offices Today. She is here to support us with the launch of Three New Exciting Semi Exclusive Products by taking your calls to discuss any enquiries you may have. So ask yourself...

DO YOU HAVE CLIENTS THAT...

  • Want a Free Valuation and/or Free Legals*?
  • Are contractors and want to benefit from Market Leading criteria up to 95% LTV?
  • Need access to BTL criteria that allows them to have lived in the property and use personal income rather than rental income? (Consumer BTL)
  • Want a 5 Year Discount product starting at 3.79% with NO CREDIT SCORING?

YOU DO...

Good News! We are able to offer all of the above through one lender

Here are some of the Semi Exclusive Product Highlights

  • 3.79% 5 year discount up to 90% LTV plus Free Valuation & Free Legals*
  • 4.29% 3 year discount up to 95% LTV- Exclusively For contractors
  • 4.29 % BTL fixed to 29/11/2019 - consumer BTL allowed

CALL US NOW on 01329 245800

Remember... Clients can't go direct - They have to use you to access these products. These schemes are only available on a very limited distribution basis so don't miss out on this opportunity to access Great Products, with Flexible Criteria and Free Valuations/Legals.

*Free Legals available for like for like remortgages up to a property value of £700,000

95% Contractors - Semi Exclusive

11th September 2016

*STOP PRESS*
New Semi Exclusive Product Launch up to 95% LTV
*STOP PRESS*
1app@SMS are delighted to announce the launch of Three New exciting Semi Exclusive Products

DO YOU WANT...

  • Free valuations
  • Free legals*
  • Flexible underwriting with no credit scoring

DO YOU HAVE CLIENTS THAT...

  • Are contractors and want to benefit from Market Leading criteria up to 95% LTV?
  • Need access to BTL criteria that allows them to have lived in the property and use personal income rather than rental income? (Consumer BTL)
  • Want a 5 year discount product starting at 3.79% with NO CREDIT SCORING?

YOU DO...

Then we are able to offer all of the above via ONE LENDER from our extensive panel...

In Addition this lender will offer the following flexible approach to each case:

  • No maximum age limit
  • No minimum property ownership time
  • Unusual properties considered
  • Interest only & repayment options available

Due to the excellent relationship we have with this lender they will provide us EXCLUSIVELY with an experienced member of their team to be ON SITE in our offices on Monday the 12th September 2016, for the launch of these exciting products.

LOOK OUT FOR FURTHER DETAILS ON THESE PRODUCTS

If you want to discuss a case and find out more about this lender or any of our other panel lenders

CALL US NOW on 01329 245800

Remember... Clients can't go direct - They have to use you to access these products. These schemes are only available on a very limited distribution basis so don't miss out on this opportunity to access Great Products, with Flexible Criteria and Free Valuations/Legals.

*Free Legals available for like for like remortgages up to a property value of £700,000

Self employed applicants? 5 reasons you should think about TML

5th September 2016

At The Mortgage Lender we understand that when an applicant is self employed, their mortgage requirements might not be as simple as some lenders would like.

Here are 5 reasons to think of TML when you have a self employed applicant:

  • Applicants considered with minimum 12 months trading up to 80% LTV (up to 85% if 24 months trading)
  • We don't average the last few years' accounts for affordability - we use the most recent accounts figures
  • We consider 100% of self employed income, even when it comes from more than one source
  • We consider dividends and retained profits
  • If certified accounts or recent SA302 is not available, we can also work from an Accountants Certificate

Fantastic Exclusives from SMS

2nd September 2016

Don't forget to ask about our fantastic semi exclusives...

  • £700 Cashbacks on 2 year fixed rates from 3.74%*
  • 80% LTV HMOs & LTD Company HMOs - 125% rental calculation
  • DMPs - Active or satisfied in the last 3 years - Max 75% LTV
  • LTD Company BTL - 3.89% 5-year Fixed until 31/10/2021 up to 75% LTV with 1.5% product fee*
  • BTL 3 year fixed 3.39% up to 65% LTV
  • Residential Interest Only 3 year fixed 2.99% up to 80% LTV
  • Residential Interest Only 2 year discounted - initial rate 2.34% up to 80% LTV
  • Residential Capital and Interest Only 2 year discounted - initial rate 1.84% up to 80% LTV

Meet Sharon your NCBS/TFBS Underwriter

1st September 2016

 
SMS introduce Sharon Clark our onsite underwriter
from NCBS/TFBS
 
National Counties & The Family Building
Societies have placed an onsite underwriter
at our offices to give you more consistent
and speedier decisions.
 
A lender committed to the packager and intermediary market
 

The terms are as follows:

  • Lending into and in Retirement
  • Self-Employed
  • Guarantor Mortgages
  • Interest Only
  • Holiday Homes
  • Second Homes
  • Expatriate Mortgages
  • Armed Forces

Limited Company BTL

31st August 2016

The Mortgage Lender are at SMS call to speak to them

30th August 2016

Ask Jacqui from TML what they can do to help you!

The terms are as follows:

  • Rates starting from 2.18% - 2 year tracker
  • Clean clients, clients with the odd hiccup, IVA's satisfied 3 years ago (85% LTV)/ Bankrupts discharged 3 years ago catered for on 7-9 product Tiers (75% LTV)
  • Self employed - trading for 12 months - we will accept an Accountants Certificate ( no need for SA302'2 / Accounts) up to 80% LTV
  • Self employed - trading 24 months or longer - again we will accept an Accountants Certificate if easier for the client, up to 85% LTV
  • Ltd Co Directors - trading minimum of 12 months (80% LTV ) will use Salary, Dividends and Retained Profit from current tax year
  • Clients who fail affordability with high street - we ignore private school fees and pension contributions
  • Clients in a DMP - we will accept with no requirement to repay the DMP. Please note that we will use the monthly payments as shown on the Equifax report for affordability - NOT the figures agreed under the DMP. However, clients in a current DMP who are looking to capital raise to repay the DMP, the debts being repaid will be ignored for affordability and the offer conditioned for the solicitor to repay
  • PAYE Contract Workers - unless the contract states holiday, we will assume the client will work 52 weeks of the year. So £daily rate x 5 x 52, if the gross salary we will use for affordability
  • 4.5 x salary for single applications / 4 x joint income for joint applications. 100% of second incomes taken in to account
  • Lend to age 70 as standard. Will lend to age 80 next birthday for clients who have private pension income to support the application post age 70
  • Lend in England, Wales and Scotland
  • Ex Local Authority houses and flats up to 75% LTV (flats max of 5 floors in block outside of London / 10 floors inside of London)
  • New Build houses and flats up to 80% LTV (same rules re number of floors in the block as above for ex local)
  • FTB are up to 80% LTV - family gifted deposits accepted
  • Leasehold properties - minimum lease remaining 40 years at end of mortgage term
  • Minimum mortgage term 5 years - maximum is 35 years
  • Unsecured arrears - Tiers 1-3 - can have missed last months payment at time of DIP (max number showing as 1 in the last 24 months) / Tiers 4-6 - can have missed 2 months payments in the last 24 months / Tiers 7-9 - No maximum of number of months missed, as long as the account hasn't Defaulted in the last 6 months!
  • Pay Day loans repaid over 12 months ago acceptable
  • Same products / Tiers available for Purchase and Remortgage
  • Refinancing for debt consolidation, investing into an existing established business, Buying of 2nd home, any legal purpose, etc
  • Competitive panel solicitors fees - acting for the client and TML - Remortgage flat fee of £399 + VAT / Disbursements / Purchase £150,000 to £299,000 (for example) - £574 + VAT / Disbursements
  • Minimum income £15,000 for 1st applicant - no minimum for 2nd applicant

Onsite Underwriter for NCBS & TFBS at SMS offices from the 25th August 2016

24th August 2016

National Counties and The Family Building Society have placed a full time underwriter at our office

This is a full time commitment to SMS and our broker partners from this lender and will give us the consistency of decisions, speed of process and enhance the service that SMS and our lenders provide.

Call us to discuss your cases for this lender, from DIP to Offer the decision is made in our office!

Consistent and expert processing bringing more solutions and completions from SMS

A lender committed to the packager and intermediary market

  • Lending into and in Retirement
  • Self-Employed
  • Guarantor Mortgages
  • Interest Only
  • Holiday Homes
  • Second Homes
  • Expatriate Mortgages - Loans are available on a Buy to Let basis, subject to certain conditions. Your client must be able to provide satisfactory evidence of identity, proof of income and hold a UK bank account. Applications may be subject to an increased product fee. Minimum loan amount: £100,000.

    Additionally, we're able to lend to UK nationals working abroad, along with UK nationals and foreign nationals working in the UK but paid in a foreign currency, on an interest-only Owner Occupier mortgage. This is subject to certain conditions.
  • Armed Forces

Reductions to our remortgage rates

25th August 2016

Following the Bank of England Bank Rate cut of 0.25% on 4 August 2016, changes to our Bank Rate Tracker mortgages will take effect on 25 September.

The 0.25% reduction to National Counties' Standard Variable Rate and Family Building Society Managed Mortgage Rate will also apply from 25 September.

Existing customers will be advised of their new payments in early September. These will take account of any product specific interest rate floors that are applicable to them.

Remortgage solutions for credit impaired

19th August 2016

Customers with adverse credit may have struggled to get a better deal in the past but our new criteria could help some move to a better rate now, rather than waiting until their credit score improves.

Our lenders track record means they can take a common sense approach to customers who may be struggling to get past other automated systems:

  • Unlimited Mortgage Arrears in months 13-24
  • Debt Management Plans accepted and can remain
  • CCJ's/Defaults under £250 ignored, even in the last 3 months
  • Unlimited CCJ's/Defaults within the last 3 years, none in last 6 months
  • No Credit Scoring

With mortgage rates lower than ever, how many of your customers could you help secure a better deal?

Remember we have Remortgage products that come with a fees assisted package.

New Semi Exclusive Product

17th August 2016

NEW! Semi - Exclusive Buy to Let Product

  • Limited Company
  • 5 year fixed at 3.89%
  • 75% LTV maximum
  • 125% rental calculation based on the reversion rate of 4.0%
  • Newly formed SPV's accepted
  • Up to 4 directors

The Mortgage Lender are at SMS call to speak to them

15th August 2016

Ask Jacqui from TML what they can do to help you!

The terms are as follows:

  • Rates starting from 2.18% - 2 year tracker
  • Clean clients, clients with the odd hiccup, IVA's satisfied 3 years ago (85% LTV)/ Bankrupts discharged 3 years ago catered for on 7-9 product Tiers (75% LTV)
  • Self employed - trading for 12 months - we will accept an Accountants Certificate ( no need for SA302'2 / Accounts) up to 80% LTV
  • Self employed - trading 24 months or longer - again we will accept an Accountants Certificate if easier for the client, up to 85% LTV
  • Ltd Co Directors - trading minimum of 12 months (80% LTV ) will use Salary, Dividends and Retained Profit from current tax year
  • Clients who fail affordability with high street - we ignore private school fees and pension contributions
  • Clients in a DMP - we will accept with no requirement to repay the DMP. Please note that we will use the monthly payments as shown on the Equifax report for affordability - NOT the figures agreed under the DMP. However, clients in a current DMP who are looking to capital raise to repay the DMP, the debts being repaid will be ignored for affordability and the offer conditioned for the solicitor to repay
  • PAYE Contract Workers - unless the contract states holiday, we will assume the client will work 52 weeks of the year. So £daily rate x 5 x 52, if the gross salary we will use for affordability
  • 4.5 x salary for single applications / 4 x joint income for joint applications. 100% of second incomes taken in to account
  • Lend to age 70 as standard. Will lend to age 80 next birthday for clients who have private pension income to support the application post age 70
  • Lend in England, Wales and Scotland
  • Ex Local Authority houses and flats up to 75% LTV (flats max of 5 floors in block outside of London / 10 floors inside of London)
  • New Build houses and flats up to 80% LTV (same rules re number of floors in the block as above for ex local)
  • FTB are up to 80% LTV - family gifted deposits accepted
  • Leasehold properties - minimum lease remaining 40 years at end of mortgage term
  • Minimum mortgage term 5 years - maximum is 35 years
  • Unsecured arrears - Tiers 1-3 - can have missed last months payment at time of DIP (max number showing as 1 in the last 24 months) / Tiers 4-6 - can have missed 2 months payments in the last 24 months / Tiers 7-9 - No maximum of number of months missed, as long as the account hasn't Defaulted in the last 6 months!
  • Pay Day loans repaid over 12 months ago acceptable
  • Same products / Tiers available for Purchase and Remortgage
  • Refinancing for debt consolidation, investing into an existing established business, Buying of 2nd home, any legal purpose, etc
  • Competitive panel solicitors fees - acting for the client and TML - Remortgage flat fee of £399 + VAT / Disbursements / Purchase £150,000 to £299,000 (for example) - £574 + VAT / Disbursements
  • Minimum income £15,000 for 1st applicant - no minimum for 2nd applicant

Paid in foreign currency? UK or Foreign nationals residential mortgages

29th August 2016

Paid in foreign currency? UK or Foreign nationals residential mortgages

Supporting a new market for your customers

Our lender is able to offer owner-occupier mortgages for UK nationals working abroad and also UK or foreign nationals living and working in the UK but paid partly or wholly in a foreign currency. No change is being made to the lenders existing ex-pat Buy-to-Let facilities.

The terms are as follows:

  • The property must be the borrower's main home and currently be used by them and / or their family members
  • If the borrowers are not currently living in the property then they must intend to return to it at a future time

Should either of these circumstances change in future, no further lending or variation of the mortgage terms (inc. product switch) will be possible.

  • Foreign nationals must have a permanent / indefinite right to reside in the UK
  • Applicant must be employed (self-employed is NOT acceptable)
  • The mortgage is available as interest only
  • The planned repayment vehicle must be an existing Sterling denominated UK asset
  • Repayment mortgages are NOT available
  • For ex-pat applications, the completion fee charged will be the standard product fee or large loan fee (whichever is higher) plus 1.00%
  • Terms available across our variable rate mortgage products

Please note that this is NOT an EU MCD foreign currency mortgage.

Please refer for more information, such as details on the affordability assessment and the restricted list of countries accepted from ex-pat applications.

90% LTV Specialist Mortgages from 4.99%

11th August 2016

  • Secured loan arrears accepted if older than 24 months
  • Debt Management Plans accepted and monthly payment used for affordability
  • Communications defaults ignored
  • Self-employed lending on the most recent year’s figures
  • Up to 100% of bonus, overtime or second job income can be used in affordability
  • Contractor mortgages with less than 12 months history if contract is within an existing profession

New and improved product ranges including rates being reduced

5th August 2016

Lender improves Residential and Buy to Let ranges to help you place more cases. Changes include:
Packager exclusive range available from SMS click here to see the product guide

Take a look at some of the key highlights below:

Meet Ross who is here to help

4th August 2016

May I introduce myself, I am Ross Burnett your BDM.
I am your support at SMS, Please call me to discuss this email or to arrange a visit.

Email - sales@sms-uk.co.uk

Mobile - 07825 664391

1APP@SMS

SMS have recently launched the most up to date DIP and Application management tool, bringing swift Decision In Principles at the touch of a few buttons and no rekeying. Look at www.sms-uk.co.uk and go to 1APP@SMS, sign up and see why this is market leading system is changing specialist lending, or just look at our short film on the home page that shows you how easy our system is to use.

With new lenders and products in the specialist market, SMS may help you complete more cases, why not try!

I can come along and discuss our great new systems and products face to face, just let me have some dates work for you and I will do my best to fit in with these. Or simply call me to find out more!

I look forward to seeing you soon.

Best wishes Ross

Dudley Product Refresh

2nd August 2016

There has been a lot of product information over the past few weeks so here is a summary of the changes as well as the release of the new product guide

Buy to let and interest only

  • 2 new Discounted Rate for term products for purchase and remortgage from 3.19% up to 70% LTV (previously 3.99%), 3.49% up to 75% LTV (previously 4.24%)
  • 2 new 3 year Fixed Rate products for purchase and remortgage from 3.29% up to 70% LTV (previously 4.24%), 3.59% up to 75% (previously 4.49%)
  • 2 new 5 year Fixed Rate products for purchase and remortgage from 3.59% up to 70% LTV and 3.89% up to 75% LTV
  • Tiered BTL rental calculations from 125% dependent on LTV
  • 4 new Interest Only discount for term products for purchase and remortgage from 3.59% up to 60% LTV (previously 3.79%) and 3.74% up to 75% (previously 3.99%)
  • 5 Year Fixed Interest Only product for purchase and remortgage at 3.89% for up to 75% LTV

Self-employed, discount and shared ownership

  • Discounted rates from 2.69% - discounted for the whole mortgage term
  • Shared ownership rates now from 3.99% (previously 4.99%)
  • Self-employed range now from 3.49% (previously 3.99%)

Fixed rate and listed building

  • 2 year fixed rates at 3.69% up to 90% LTV for purchase and remortgage
  • 3 year fixed rates at 2.99% up to 80% LTV for purchase and remortgage
  • 5 year fixed rates at 3.39% up to 80% LTV for purchase and remortgage
  • Listed buildings products for Grade 1, 2 and 2* property now priced at 3.69% for purchase and remortgage

Across all product ranges

  • All remortgage only products come with fee assisted legals and a free valuation
  • No upper age limits
  • Manual underwriting
  • Guarantor mortgages - close blood relatives (Max 75% LTV)

90% LTV Specialist Mortgages from 4.99%

1st August 2016

  • Secured loan arrears accepted if older than 24 months
  • Debt Management Plans accepted and monthly payment used for affordability
  • Communications defaults ignored
  • Self-employed lending on the most recent year’s figures
  • Up to 100% of bonus, overtime or second job income can be used in affordability
  • Contractor mortgages with less than 12 months history if contract is within an existing profession

Paid in foreign currency? UK or Foreign nationals residential mortgages

July 2016

Paid in foreign currency? UK or Foreign nationals residential mortgages

Supporting a new market for your customers

Our lender is able to offer owner-occupier mortgages for UK nationals working abroad and also UK or foreign nationals living and working in the UK but paid partly or wholly in a foreign currency. No change is being made to the lenders existing ex-pat Buy-to-Let facilities.

The terms are as follows:

  • The property must be the borrower's main home and currently be used by them and / or their family members
  • If the borrowers are not currently living in the property then they must intend to return to it at a future time

Should either of these circumstances change in future, no further lending or variation of the mortgage terms (inc. product switch) will be possible.

  • Foreign nationals must have a permanent / indefinite right to reside in the UK
  • Applicant must be employed (self-employed is NOT acceptable)
  • The mortgage is available as interest only
  • The planned repayment vehicle must be an existing Sterling denominated UK asset
  • Repayment mortgages are NOT available
  • For ex-pat applications, the completion fee charged will be the standard product fee or large loan fee (whichever is higher) plus 1.00%
  • Terms available across our variable rate mortgage products

Please note that this is NOT an EU MCD foreign currency mortgage.

Please refer for more information, such as details on the affordability assessment and the restricted list of countries accepted from ex-pat applications.

Exclusive 90% LTV available via SMS for Kensington

July 2016

It's back, 90% LTV for residential mortgages

Please click here to see the product guide

Have you seen 1APP@SMS our cloud based DIP and Application system?

Click here to see a short film

The Mortgage Lender launches via SMS

July 2016

A new lender looking to help your clients - call us to find out more!

Underwriting Highlights

All applicants

  • Income multiples up to 4.5 x single, 4 x joint
  • Personal / occupational pension income can be considered as the sole source of income (minimum gross income for primary applicant is £15,000 per annum)
  • 100% of second incomes can be considered
  • We will accept maintenance payments as a form of income, with a court order and a minimum remaining term of 5 years
  • Applications from married / civil partnership applicants should be in joint names. TML will consider sole applications subject to a suitable explanation and assessment by an underwriter
  • Will consider 100% of basic salary, car allowance and pension

Employed applicants

  • We will consider 50% of overtime / commission / bonus

Lending from £25,000 to £1 million

All remortgage options providing both assistance with legal fees and a free valuation*.

Hands on "common sense" underwriting and no credit scoring, all matched with great pricing.

  • Residential and BTL rates from 3.19%
  • Interest only from 3.59%
  • Self Employed with 1 years accounts
  • Shared Ownership rates from 4.99%
  • Right To Buy From 4.99%

Self employed applicants

  • Up to 85% LTV if over 24 months' trading time (80% LTV maximum if 12 - 24 months' trading)
  • Minimum trading time 12 months
  • We'll consider multiple sources of income for self-employed applicants, taking 100% of all self-employed incomes
  • We'll consider dividends and retained profits
  • SA302s and accountant's certificate considered

Contract Workers

  • Contract workers considered if 6 months of continuous service completed and 6 months of contract to run (not necessarily with same employer)

Lending into retirement

  • We will lend up to age 80 (at the end of the term) as long as the applicant's retirement income supports the lending requested
  • We will assess lending into retirement using the applicant's stated retirement age or 70, whichever is lower

Impaired credit

  • Our products cater for applicants who have an imperfect credit history, including County Court Judgements, arrears on secured or unsecured lending, defaults, or Individual Voluntary Arrangements/bankruptcy
  • Bankruptcy / Individual Voluntary Arrangement must be discharged / satisfied 3 years ago
  • All applications are credit scored

Property

  • Minimum property value £70,000, minimum £150,000 in London & South East
  • Ex local authority properties acceptable up to 75% LTV (properties within buildings of max 5 floors)
  • Properties with up to 3 acres of land considered
  • We'll also lend in mainland Scotland (subject to some postcode exclusions)

Maximum loan sizes

  • £1 million up to a maximum 70% LTV
  • £800,000 up to a maximum 75% LTV
  • £600,000 up to a maximum 80% LTV
  • £400,000 up to a maximum 85% LTV
  • First time buyer maximum 80% LTV (FTB definition: where no party to the mortgage has held a mortgage within the last 12 months)

Great New Packager only Products

July 2016

New Buy To Let and Interest Only Range

New deals from the intermediary only mortgage lender include:

  • Two new discounted rate for term products for purchase and remortgage from 3.19% up to 70% LTV (previously 3.99%), 3.49% up to 75% LTV (previously 4.24%)
  • Two new three-year fixed rate products for purchase and remortgage from 3.29% up to 70% LTV (previously 4.24%), 3.59% up to 75% (previously 4.49%)
  • Two new five-year fixed rate products for purchase and remortgage from 3.59% up to 70% LTV and 3.89% up to 75% LTV. There are no upper age limits and manual underwriting applies.

In addition, there are tiered buy-to-let rental calculations from 125% dependent on LTV (125% for up to 70% LTV and 130% for up to 75% LTV; 140% for flats across all LTVs).

Lending from £25,000 to £1 million

All remortgage options providing both assistance with legal fees and a free valuation*.

Hands on "common sense" underwriting and no credit scoring, all matched with great pricing.

  • Residential and BTL rates from 3.19%
  • Interest only from 3.59%
  • Self Employed with 1 years accounts
  • Shared Ownership rates from 4.99%
  • Right To Buy From 4.99%

The lender said: "We have introduced a very strong line up of products for the buy-to-let market that reflects our commitment to the sector. Landlords can choose between discounted rate products where the discount from the SVR lasts for the term of the mortgage or three or five year fixed rate options. Capital repayments of 10% of the advance amount can be made every year, along with interest only and repayment options."

"The buy-to-let market is readjusting to the recent changes to tax relief and our Society has responded with a comprehensive range of attractively priced products, where we have cut rates in some cases by up to 0.8%."

"We are fully committed to the intermediary market and with this range we are offering today's landlord a particularly well balanced range backed up by individual underwriting which has become a hallmark of our successful distribution strategy."

Complex cases or Credit History causing you a problem?

July 2016

With a manual underwriting approach without any credit scoring, Our lenders Near Prime and Credit Repair product ranges offer you a variety of solutions for complex client circumstances including:

  • Cases declined by automated credit scoring systems
  • Historic adverse credit including Defaults, CCJs, Arrears, IVAs, DMPs and Bankruptcy
  • Borrowing beyond state retirement age
  • Limited Company Directors using Drawings + Retained profit
  • Self-employed borrowers with only 1 years' accounts
  • Employed borrowers with only 3 months in current role
  • Contractors on agency/zero-hours contracts
  • Gifted deposits/equity from close-family/builders
  • Debt consolidation for debt repayment and home improvements

The product ranges offer:

  • Up to 85% LTV
  • Rates starting at 3.38%
  • 2 and 3 years fixed rates
  • Variable rates with No ERC's
  • Affordability based on reversionary rates

Guarantor Mortgages

July 2016

Let SMS help with your guarantor mortgages

Our lender has recently seen an increase in enquires regarding guarantor mortgages and can confirm that they do accept these.

To advise you of their policy, please read on.

Applications

Guarantor applications are paper-based and there are two forms required. The applicant completes a normal application form and the guarantor completes a guarantor mortgage application form.

Underwriting

  • Guarantor cases will be assessed on a case by case basis. However, it's worth noting that the following normally applies: Guarantors must cover 100% of the total loan amount. This figure will appear in the Deed of Guarantee. The guarantor's income will cover total borrowings i.e. the Society's loan (100%) plus their own mortgage and any other commitments.
  • Guarantors should be a close blood relative, generally father, mother, brother, sister (but not a spouse)
  • Guarantor mortgages are aimed at those whose income may be a little short of that required to support the loan requested and consequently consideration will be given to the applicant's future ability to maintain the full mortgage payment (current earnings expected to rise over time and will meet affordability requirements in the future). Ideally our lender would wish the applicant's income to be sufficient to support the mortgage within 5 years. The Society is unable to assist where the main applicant has little or noincome of their own - for example, students
  • Our lender will only consider purchases; £ for £ switches; or Transfers of Equity. No capital raising will be permitted
  • The guarantor's income and affordability will be assessed, taking into consideration any property/housing costs
  • Guarantors must resolve any predeceased issues, such as, if parents are supporting their children how would the mortgage remain affordable should a parent die before their child?

Paid in foreign currency? UK or Foreign nationals residential mortgages

July 2016

Paid in foreign currency? UK or Foreign nationals residential mortgages

Supporting a new market for your customers

Our lender is able to offer owner-occupier mortgages for UK nationals working abroad and also UK or foreign nationals living and working in the UK but paid partly or wholly in a foreign currency. No change is being made to the lenders existing ex-pat Buy-to-Let facilities.

The terms are as follows:

  • The property must be the borrower's main home and currently be used by them and / or their family members
  • If the borrowers are not currently living in the property then they must intend to return to it at a future time

Should either of these circumstances change in future, no further lending or variation of the mortgage terms (inc. product switch) will be possible.

  • Foreign nationals must have a permanent / indefinite right to reside in the UK
  • Applicant must be employed (self-employed is NOT acceptable)
  • The mortgage is available as interest only
  • The planned repayment vehicle must be an existing Sterling denominated UK asset
  • Repayment mortgages are NOT available
  • For ex-pat applications, the completion fee charged will be the standard product fee or large loan fee (whichever is higher) plus 1.00%
  • Terms available across our variable rate mortgage products

Please note that this is NOT an EU MCD foreign currency mortgage.

Please refer for more information, such as details on the affordability assessment and the restricted list of countries accepted from ex-pat applications.

The Mortgage Lender launches via SMS

July 2016

A new lender looking to help your clients - call us to find out more!

Underwriting Highlights

All applicants

  • Income multiples up to 4.5 x single, 4 x joint
  • Personal / occupational pension income can be considered as the sole source of income (minimum gross income for primary applicant is £15,000 per annum)
  • 100% of second incomes can be considered
  • We will accept maintenance payments as a form of income, with a court order and a minimum remaining term of 5 years
  • Applications from married / civil partnership applicants should be in joint names. TML will consider sole applications subject to a suitable explanation and assessment by an underwriter
  • Will consider 100% of basic salary, car allowance and pension

Employed applicants

  • We will consider 50% of overtime / commission / bonus

Lending from £25,000 to £1 million

All remortgage options providing both assistance with legal fees and a free valuation*.

Hands on "common sense" underwriting and no credit scoring, all matched with great pricing.

  • Residential and BTL rates from 3.19%
  • Interest only from 3.59%
  • Self Employed with 1 years accounts
  • Shared Ownership rates from 4.99%
  • Right To Buy From 4.99%

Self employed applicants

  • Up to 85% LTV if over 24 months' trading time (80% LTV maximum if 12 - 24 months' trading)
  • Minimum trading time 12 months
  • We'll consider multiple sources of income for self-employed applicants, taking 100% of all self-employed incomes
  • We'll consider dividends and retained profits
  • SA302s and accountant's certificate considered

Contract Workers

  • Contract workers considered if 6 months of continuous service completed and 6 months of contract to run (not necessarily with same employer)

Lending into retirement

  • We will lend up to age 80 (at the end of the term) as long as the applicant's retirement income supports the lending requested
  • We will assess lending into retirement using the applicant's stated retirement age or 70, whichever is lower

Impaired credit

  • Our products cater for applicants who have an imperfect credit history, including County Court Judgements, arrears on secured or unsecured lending, defaults, or Individual Voluntary Arrangements/bankruptcy
  • Bankruptcy / Individual Voluntary Arrangement must be discharged / satisfied 3 years ago
  • All applications are credit scored

Property

  • Minimum property value £70,000, minimum £150,000 in London & South East
  • Ex local authority properties acceptable up to 75% LTV (properties within buildings of max 5 floors)
  • Properties with up to 3 acres of land considered
  • We'll also lend in mainland Scotland (subject to some postcode exclusions)

Maximum loan sizes

  • £1 million up to a maximum 70% LTV
  • £800,000 up to a maximum 75% LTV
  • £600,000 up to a maximum 80% LTV
  • £400,000 up to a maximum 85% LTV
  • First time buyer maximum 80% LTV (FTB definition: where no party to the mortgage has held a mortgage within the last 12 months)

Clients need help - We may have a solution!

July 2016

Clients need help - we may have a solution!

Our lenders provide help for your clients circumstances,
look at these solutions

Key Features

  • £1m Loan Up to 85% LTV
  • Up to 4 applicants - using all 4 incomes
  • Max age 65 at start of term - no upper age limit (subject to income sustainability)
  • Min age 20 at application
  • Free basic Legals and Valuation for Remortgages

Contractors

  • Day 1 Contractors Accepted
  • Use Day Rate x5 x48 Weeks
  • Allow for 6 months gaps in contracts
  • Min of 3 months remaining on contract or confirmation of renewal. If ltd. company set up, we can still use day rate

Self Employed

  • 1 Years Trading up to 85%
  • 100% shareholder - can use salary plus net profit
  • Can factor back in pension contributions and car allowances

Adverse

  • NO Credit Score
  • Defaults/CCJ's under £250 ignored - regardless of when registered, even in the last 3 months
  • Unlimited Defaults/CCJ's within the last 3 years considered (no monetary limits)
  • Debt Management Plans accepted and can continue post completion
  • Unlimited mortgage arrears considered in months 13 - 24

Guarantor Mortgages

July 2016

Let SMS help with your guarantor mortgages

Our lender has recently seen an increase in enquires regarding guarantor mortgages and can confirm that they do accept these.

To advise you of their policy, please read on.

Applications

Guarantor applications are paper-based and there are two forms required. The applicant completes a normal application form and the guarantor completes a guarantor mortgage application form.

Underwriting

  • Guarantor cases will be assessed on a case by case basis. However, it's worth noting that the following normally applies: Guarantors must cover 100% of the total loan amount. This figure will appear in the Deed of Guarantee. The guarantor's income will cover total borrowings i.e. the Society's loan (100%) plus their own mortgage and any other commitments.
  • Guarantors should be a close blood relative, generally father, mother, brother, sister (but not a spouse)
  • Guarantor mortgages are aimed at those whose income may be a little short of that required to support the loan requested and consequently consideration will be given to the applicant's future ability to maintain the full mortgage payment (current earnings expected to rise over time and will meet affordability requirements in the future). Ideally our lender would wish the applicant's income to be sufficient to support the mortgage within 5 years. The Society is unable to assist where the main applicant has little or noincome of their own - for example, students
  • Our lender will only consider purchases; £ for £ switches; or Transfers of Equity. No capital raising will be permitted
  • The guarantor's income and affordability will be assessed, taking into consideration any property/housing costs
  • Guarantors must resolve any predeceased issues, such as, if parents are supporting their children how would the mortgage remain affordable should a parent die before their child?

At SMS we have lenders providing solutions

July 2016

With a manual underwriting approach without any credit scoring, Our lenders Near Prime and Credit Repair product ranges offer you a variety of solutions for complex client circumstances including:

  • Cases declined by automated credit scoring systems
  • Historic adverse credit including Defaults, CCJs, Arrears, IVAs, DMPs and Bankruptcy
  • Borrowing beyond state retirement age
  • Limited Company Directors using Drawings + Retained profit
  • Self-employed borrowers with only 1 years' accounts
  • Employed borrowers with only 3 months in current role
  • Contractors on agency/zero-hours contracts
  • Gifted deposits/equity from close-family/builders
  • Debt consolidation for debt repayment and home improvements

The product ranges offer:

  • Up to 85% LTV
  • Rates starting at 3.38%
  • 2 and 3 years fixed rates
  • Variable rates with No ERC's
  • Affordability based on reversionary rates

Great New Packager only Products

June 2016

New Buy To Let and Interest Only Range

New deals from the intermediary only mortgage lender include:

  • Two new discounted rate for term products for purchase and remortgage from 3.19% up to 70% LTV (previously 3.99%), 3.49% up to 75% LTV (previously 4.24%)
  • Two new three-year fixed rate products for purchase and remortgage from 3.29% up to 70% LTV (previously 4.24%), 3.59% up to 75% (previously 4.49%)
  • Two new five-year fixed rate products for purchase and remortgage from 3.59% up to 70% LTV and 3.89% up to 75% LTV. There are no upper age limits and manual underwriting applies.

In addition, there are tiered buy-to-let rental calculations from 125% dependent on LTV (125% for up to 70% LTV and 130% for up to 75% LTV; 140% for flats across all LTVs).

Lending from £25,000 to £1 million

All remortgage options providing both assistance with legal fees and a free valuation*.

Hands on "common sense" underwriting and no credit scoring, all matched with great pricing.

  • Residential and BTL rates from 3.19%
  • Interest only from 3.59%
  • Self Employed with 1 years accounts
  • Shared Ownership rates from 4.99%
  • Right To Buy From 4.99%

The lender said: "We have introduced a very strong line up of products for the buy-to-let market that reflects our commitment to the sector. Landlords can choose between discounted rate products where the discount from the SVR lasts for the term of the mortgage or three or five year fixed rate options. Capital repayments of 10% of the advance amount can be made every year, along with interest only and repayment options."

"The buy-to-let market is readjusting to the recent changes to tax relief and our Society has responded with a comprehensive range of attractively priced products, where we have cut rates in some cases by up to 0.8%."

"We are fully committed to the intermediary market and with this range we are offering today's landlord a particularly well balanced range backed up by individual underwriting which has become a hallmark of our successful distribution strategy."

New BTL lender for limited companies and Rates Reduced

June 2016

Rates Reduced on products and New BTL Limited Company product

Please see the links below for the new Limited Company BTL products from SMS for Residential Rates

Did you see these great updates from last week?

Ask our new business team to help you on these and the other superb specialists products that can help your clients!

Have you also seen the new 1APP@SMS DIP system, just ask Ross Burnett to run through this with you!

Liza (Precise) is waiting to take your questions at our office Today

June 2016

Want to know more about the Precise packager products or just ask Liza a question

Call SMS and ask to speak to Liza on 01329 245800

Precise - A full range of products to help clients where the high street lenders have said no!

Liza is looking forward to helping you with your cases.

Have you seen 1APP@SMS and our new DIP form, visit www.sms-uk.co.uk to find out more

News News News Product Changes

June 2016

More positive changes from our lenders

Foundation Home Loans

  • Foundation have reduced rates
  • Launched New Light Adverse products for Limited Companies
  • No maximum age for Limited Companies
  • Still 125% rental coverage for limited companies

Together - What are the changes?

  • Increase to the maximum loan value before referral from £200k to £400k
  • Removal of the maximum age restrictions where repayment is not dependent upon employment income, i.e rental income or rental income plus pension

90% LTV Self-Employed mortgages using latest year's figures

June 2016

Self-Employed mortgages using latest year's figures

This lender has been lending to self-employed customers for more than 20 years and has expert underwriters to make lending decisions based on your clients most recent year's accounts.

  • Lending decisions considered on latest 12 month's accounts
  • Ability to consider the share of net business profits plus salary for sole and joint company directors
  • Mortgages for self-employed clients who have recently switched trading status between Sole Trader and Limited Company
  • Mortgages for new business owners based on 1st years accounts

90% LTV New options for your credit score declines

June 2016

New options for your credit score declines

This lender has created a set of criteria and approach to underwriting to help your Failed Credit Score clients achieve the home they can truly afford.

  • Up to 2 unsecured missed payments in last 12 months, if now up to date
  • Defaults, secured loan arrears or satisfied CCJs if older than 24 months
  • Can consider unsatisfied CCJs older than 24 months
  • Can accept current Debt Management Plans
  • All communications defaults ignored

 

Self-Employed case study

June 2016

Self employed for 1 year with adverse accepted!

90% LTV Specialist Mortgages from 4.99%

June 2016

  • Secured loan arrears accepted if older than 24 months
  • Debt Management Plans accepted and monthly payment used for affordability
  • Communications defaults ignored
  • Self-employed lending on the most recent year’s figures
  • Up to 100% of bonus, overtime or second job income can be used in affordability
  • Contractor mortgages with less than 12 months history if contract is within an existing profession

IMPORTANT WORDING for PRECISE MORTGAGE APPLICATIONS

June 2016

Exact wording required on documents

Precise Mortgages require the following wording on all documents supplied as part of the mortgage application process.

They will insist that all documents carry this wording so please use.

Face to Face - Photo ID

I hereby certify this document to be a 'true likeness of applicant' and it is a 'true copy of the original'

General Certification

I hereby certify this document to be a 'true copy of the original'

Help us to help you to complete cases more quickly - This wording would be helpful on all documents used as back up in the application process for all our lenders.

This week's specialist product news and our NEW smart DIP

June 2016

Have you seen our new Smart DIP we sent out recently?

It can send directly from your desktop straight into our system with instant decisions available for residential, BTL, second charges and bridging.

Ask Ross Burnett our BDM to run through this with you!

Email Ross.burnett@sms-uk.co.uk or call 07825 664391 Ross will be more than pleased to help.

Look at www.sms-uk.co.uk and go to 1APP@SMS, sign up and see why this is market leading system will help you!

It can compare residential, second charges and bridging loans in one place, at the same time and provide an audit from one input

Key features include:

  • Online DIP - which checks lenders' criteria as information is input giving certainty and speedier decisions
  • Smart forms - Add questions at the beginning where you know what the issue is, contractor, property type, saving time at the start
  • Credit questions on the system and again checked against lender criteria
  • Gives a report on what lenders will look at, based on the criteria with all fees and costs at the point of input
  • When the product is selected the client can be given a report on the lender selected and what other lenders were available
  • Full case tracking and document upload facility relevant to the case
  • Applications automatically go into our back end system saving valuable time to be able to talk to brokers and work on cases

Residential Semi-Exclusive from SMS

June 2016

These products include not only new fantastic 2 years fixed with £700 Cashbacks but also DMP products

USPS for the range include:

  • £700 Cashback offer on some products
  • Attractive fixed rates from 3.74%
  • DMP - current or have been active in the last 3 years (Maximum 75% LTV)
  • DMP can have had adverse since the DMP registered date
  • Adverse allowed includes - secured arrears, DF & CCJs
  • Payday loans considered - even in last 12 months
  • 35 year term - assists with affordability
  • Unlimited unsecured arrears - ignored for the purposes of underwriting

New options for your credit score declines

May 2016

This lender has created a set of criteria and approach to underwriting to help your Failed Credit Score clients achieve the home they can truly afford.

  • Up to 2 unsecured missed payments in last 12 months, if now up to date
  • Defaults, secured loan arrears or satisfied CCJs if older than 24 months
  • Can consider unsatisfied CCJs older than 24 months
  • Can accept current Debt Management Plans
  • All communications defaults ignored

Self-Employed mortgages using lastest year's figures

May 2016

This lender has been lending to self-employed customers for more than 20 years and has expert underwriters to make lending decisions based on your clients most recent year’s accounts.

  • Lending decisions considered on latest 12 month's accounts
  • Ability to consider the share of net business profits plus salary for sole and joint company directors
  • Mortgages for self-employed who have recently switched status between sole trade
  • Mortgages for new business owners based on 1st years accounts

80% LTV Buy to Let, with no Credit Score

May 2016

80% Buy to Let, with no Credit Score

  • Buy to Let mortgages up to 80% LTV with rental coverage of 125% at 5.50%
  • No minimum income requirements for existing landlords
  • Decisions made by an underwriter, not a credit score
  • No overall portfolio limit
  • Maximum loan size £1.5 million
  • New build, including desirable high rise
  • Let to buy available

Self-Employed adverse accepted 85% LTV

May 2016

Self employed for 1 year with adverse accepted!

The Lender's Question

May 2016

Is the lender's question right?

We have highlighted one of our lender product ranges and the key features it offers:

AA range:

  • 2 Defaults for any amounts in months 6 - 36
  • Defaults and CCJ's under £250 ignored from 0 - 36 months
  • 1 CCJ's for any amount in months 6 - 36
  • Status 2 mortgage arrears in months 13 - 24
  • Debt Management Plans Accepted
  • NO Credit Scoring
  • Free valuation and legals for remortgages

The lenders question - Is there another lender in the UK that can stack up this level of criteria with rates as low as 4.58%?

USPs not to be missed

May 2016

New key features that should really help generate business and assist clients struggling on affordability?

We just wanted to highlight some of the new key features for this lender that should really help generate business and assist with those clients struggling on affordability:

Highlights include:

  • 35 year term now available on residential and BTL - resulting in increased affordability
  • Reduced rates on HMO & Ltd Co products including our 80% Exclusive product
  • Attractive new Fixed rates available on our Semi Exclusive range PLUS £700 Cashbacks (The only Cashbacks that this lender offer in the market)
  • New BTL LTV banding allowing loans of £750,000 up to 75% LTV
  • No credit scoring - manual underwriting
  • 6-year fixed rates decreased by 0.30% and a zero product fee option introduced. Great for customers struggling with affordability and be combined with new 35 year term
  • New Help to Buy products with higher levels of allowable adverse equivalent to tiers 7/8. That's 5 DF + 3CCJS with no monetary limit in last 2 years
  • Remortgage range introduced with a zero product fee, refund of valuation and free remortgage legal service.

Has your client failed with the mainstream lenders?

May 2016

As you're one of our valued broker partners, I thought I'd give you a quick refresh on some of the key features from one of our lenders product range just in case you missed this before. The aim is to help with some of your cases which have failed with the mainstream lenders and assist where you've almost given up hope in helping your clients find a solution.

Adverse Credit offering:

  • Allow for unlimited defaults and CCJ's -within the last 3 years (none in last 6 months)
  • Defaults and CCJ's under £250 ignored for product selection purposes - even if registered within the last 3 months
  • Allow for unlimited mortgage arrears in months 13-24
  • Debt Management Plans Accepted - can remain after completion
  • No credit scoring - manual underwriting

We also offer some niche criteria for self employed applicants and for contractors too

90% LTV Kensington Exclusive Packager Product - lender criteria unchanged

May 2016

  • Secured loan arrears accepted if older than 24 months
  • Debt Management Plans accepted and monthly payment used for affordability
  • Communications defaults ignored
  • Self-employed lending on the most recent year’s figures
  • Up to 100% of bonus, overtime or second job income can be used in affordability
  • Contractor mortgages with less than 12 months history if contract is within an existing profession

One Day Remortgages

May 2016

Day One Remortgage
 
We understand that in the rush to complete before the 1st April Stamp Duty increase, some of your clients may have chosen to buy for cash or taken a bridging loan. Now that the deadline has passed, many of these clients will want to remortgage, but are restricted by lenders’ day one remortgage policies.
 
Until 31st May 2016, Foundation Home Loans will consider remortgage applications for those properties. Each case will be considered on an individual basis and satisfactory evidence of the source of the purchase funds must be provided in order to be considered.
 
For more information, see our Fact Sheet or contact your Regional Account Manager.
 
 
Full product guide Apply now Visit our website
 
Houses
THIS EMAIL IS INTENDED FOR INTERMEDIARIES ONLY AND HAS NOT BEEN APPROVED FOR CUSTOMER USE.

90% LTV Specialist Mortgages from 4.89%

May 2016

  • Secured loan arrears accepted if older than 24 months
  • Debt Management Plans accepted and monthly payment used for affordability
  • Communications defaults ignored
  • Self-employed lending on the most recent year’s figures
  • Up to 100% of bonus, overtime or second job income can be used in affordability
  • Contractor mortgages with less than 12 months history if contract is within an existing profession

Product Features - We may be able to help

April 2016

Look at Lender 1

  • Allow for up to 4 or more Defaults in the last 3 years, regardless of the amount
  • Allow for up to 3 or more CCJ's in the last 3 years, regardless of the amount
  • Debt Management Plans, they can even remain after completion
  • Defaults & CCJ's under £250 are ignored, even if they were registered in the last 3 months

Some lenders do not credit score

Some other lender features

Do you need a £1million loan up to 85% LTV

  • Up to 4 applicants a mum and dad can come on the application despite not living in the security - using all 4 incomes
  • Maximum age 65 at start of term - no upper age limit (subject to checks)
  • Minimum age 20 at application

Contractors

  • Day 1 contractors accepted
  • Use day rate x5 x48 weeks
  • Allow for 6 months gaps in contracts
  • Minimum of 3 months remaining on contract or confirmation of renewal

Self employed

  • 1 Years Trading - Self employed
  • 100% shareholder - can use salary plus net profit
  • Can factor back in pension contributions and car allowances

More lenders with more features so just ask SMS if we can help!

Self employed with only 12 months trading accepted

April 2016

Self employed

3 Year fixed rate interest only

April 2016

Semi-exclsuive from SMS

Purchase or Remortgage for:

Summary

Buy to let lenders with a solution

March 2016

Lenders looking at reasons to write cases:

  • HMO up to 8 bedrooms (refer above 8 bedrooms)
  • Large loans
  • Student let properties
  • Lower rental coverage products
  • Limited companies
  • Ex-pat BTL
  • 85% products
  • Exclusive products
  • Lifetime tracker products
  • First time landlords
  • Let to family
  • Holiday lets
  • Non owner occupiers
  • Almost prime products
  • Mortgage arrears

Watch your movie from SMS - Decisions Made Easy!

April 2016

 

Compares your clients data with lenders criteria as you input
Can compare Second charges as well!
The new way in specialist lending!

Watch our movie on how to submit an AIP using 1App at SMS

Residential lenders with a solution

April 2016

Residential:

  • Free legal's available on some remortgages
  • Lending up to 95% (purchase and remortgage)
  • Up to 85% LTV with current/historic adverse
  • Sef-employed - 1 year accounts
  • Older clients considered
  • Complex income structures
  • RTB
  • Exclusive products
  • Flexible affordability
  • Ex bankrupts
  • Debt management plans
  • Missed mortgage payments

3 Year fixed rate interest only

April 2016

Semi-exclsuive from SMS

Purchase or Remortgage for:

Summary

Outrageously good criteria

March 2016

Rental calculation

Rental Calculation

March 2016

Rental calculation

Buy to let lenders with a solution

March 2016

Lenders looking at reasons to write cases:

  • HMO up to 8 bedrooms (refer above 8 bedrooms)
  • Large loans
  • Student let properties
  • Lower rental coverage products
  • Limited companies
  • Ex-pat BTL
  • 85% products
  • Exclusive products
  • Lifetime tracker products
  • First time landlords
  • Let to family
  • Holiday lets
  • Non owner occupiers
  • Almost prime products
  • Mortgage arrears

Residential lenders with a solution

March 2016

Residential:

  • Free legal's available on some remortgages
  • Lending up to 95% (purchase and remortgage)
  • Up to 85% LTV with current/historic adverse
  • Sef-employed - 1 year accounts
  • Older clients considered
  • Complex income structures
  • RTB
  • Exclusive products
  • Flexible affordability
  • Ex bankrupts
  • Debt management plans
  • Missed mortgage payments

Residential CCJ

March 2016

Defaults and CCJs:

  • Max 80% LTV
  • 5 x Defaults in the last 24 months, 0 in 3
  • 3 x CCJs in the last 24 months, 0 in 3
  • No monetary value attached to CCJs and Defaults
  • Rates from 4.99%

Example 1:

£50K CCJ registered 18 months ago, as long as it passes our minimum entry score will pass DIP.

Example 2:

Client has 2 defaults in last 12 months (2015) plus 3 further defaults in 2014. Regardless of amounts = Yes subject to score pass.

Credit History and issue?

March 2016

ccj/defaults

 

New Criteria for Self-Employed clients

March 2016

We are delighted to announce that Kent Reliance will now consider residential mortgage applications from professional, self-employed applicants who have been trading a minimum of 12 months, subject to the following criteria:

  • Income to be based on the finalised accounts prepared by the accountant acting for the business who must be suitably qualified;
  • Projection for second year income must be provided by the accountant;
  • Applicant must have a minimum 12 months previous track record in the same sector as their current business. This must be evidenced by proof of previous PAYE income;
  • Maximum LTV of 85%;
  • 3 months personal and business bank statements must be provided;
  • Self-assessment returns or SA302 are NOT accepted as proof of income;
  • Income will be verified by means of an accountant’s reference

Examples of professional applicants are; Doctors, Lawyers, Accountants or those who hold other professional qualifications

We are expanding our HMO range

March 2016

8 Bed HMO's without Commercial rates

  • HMO up to 8 bedrooms
  • Can be let to students (can consider with locks on doors as long as not bedsits)
  • Standard valuation fee scale applied
  • HMO license only needs to have been applied for prior to completion
  • No HMO experience required
  • Can be in a Limited Company
  • Rates from 4.09%
  • Unlicensed HMOs acceptable

Simplistic Underwriting:

  • NO bank statements
  • NO proof of income
  • NO minimum income

More great additions to the SMS team!

February 2016

SMS expands team

Solent Mortgage Services (SMS), the specialist lending distributor, has added two new experienced personnel to its team as it strengthens its service for what is expected to be a record breaking 2016

Ross Burnett joins SMS as its new Business Development Manager with a strong sales background gained from Abbey plc, HSBC, Countrywide, Nat West and Lloyds TSB among others. Kay Sallis, joins the in house team and is equally at home in sales and administration with experience gained at Woolwich, Santander, UCB and the Good Mortgage Company.

Ian Balfour, Chief Executive Officer at SMS, said, “We are delighted to welcome Ross and Kay. Their experience will be very much welcomed by our introducers.”

He added, “With intermediaries responsible for the majority of mortgage origination in the UK and with a bewildering choice of products and service available, it is even more important that those brokers and their clients with complex requirements have access to a service like ours. Dealing with SMS gives brokers not only a whole of market proposition but more importantly a knowledge base second to none. Our new recruits will add immeasurably to the service we offer.”

Limited Company BTL what happening?

January 2016

Limited Company Buy to Let:

  • Rates from 3.69%
  • 4 Directors/shareholders
  • Ability to move from personal name to Limited Company
  • No credit score

Higher LTV Semi Exclusive HMO product from SMS

January 2016

Great HMO product USP's

  • HMO's up to 80% + Fees (Exclusive to Packagers)
  • Rates from 4.09% (4.54%) lifetime tracker rate at 80%
  • Rental yield from 125% of payrate (on lifetime tracker) using combined HMO rental income

Features include:

  • Must have owned at least 2 BTLs each owned for a minimum of 2 years
  • Do not need to have HMO experience
  • Available to UK registered Ltd Companies & LLPs incl SPVs for the purpose of buying & selling property (incl start-ups)
  • Can consider unlicensed & licensed properties (C4)
  • NO proof OR minimum income - must have earned income emp/self-emp/private pension (must be able to cover rent voids & maintenance costs)
  • Max age 110 at end of term (Max age 80 at application)
  • Minimum ownership rule waived for inherited properties & Precise Bridge exits (Probate must have been granted)
  • NO bank statements required
  • Unlimited capital raising accepted - including buying properties at auction
  • Non-owners occupiers considered (must have strong explanation as to why)
  • Minimum valuation £150k (£250k London)
Ltd HMO

Merry Christmas from all at SMS

December 2015

christmas 2015

Product discontinued with immediate effect

December 2015

National Counties Building Society

Semi exclusive Managed Variable rate for term currently 1.59%

Case Studies - We have lenders to help!

November 2015

Don't miss The Mortgage and Protection Event 2015, coming to a venue near you

November 2015

Ask Liza - NEW - Residential and Buy to Let from Precise

October 2015

Liza from Precise is in our office today

(Thursday 29th October)

Call Liza on 01329 245800 and ask how we can help you with your Precise cases

Residential UPDATE:

New 4 year fixed rate products

  • Available in all core tiers
  • Reduced revert rate to 4.00% on all 4 year fixed rate products
  • Fee and adverse in line with core products

BTL UPDATE:

2 new core Tier 2 lifetime tracker products

  • Available at 70% and 75% LTV
  • Maximum loan size is £1,000,000
  • Minimum loan size is £150,000
  • 2.50% Fee

IMPORTANT - Criteria changes at Fleet

Fleet Mortgages

October 2015

Rental calculated on pay rate

October 2015

Are you struggling to get the loan required using 5%, or higher, on standard BTL rental calculations?

If you are, then maybe one of our lenders can help.

  • 3.99% at 125% up to 65% (Lifetime Tracker)
  • 4.19% at 125% up to 75% (Lifetime Tracker)
  • 1% completion fee
  • Redemption 3% in 1st 3 years

Complicated BTL enquiries talk to SMS

October 2015

We have a wealth of lenders that can help with your more complicated BTL enquiries.

For instance have you experience valuers coming back with rental yields less than your landlords already receive?

If so call our team NOW... we may have just the solution for you:

  • AST's can accepted up to 3 years
  • AST = 4 students on 1 AST can accept on standard BTL terms
  • BTL Remortgage - Can work off AST rental figure (non furnished) as opposed to valuers rental figure
  • Bank statements not usually required
  • No proof of income required
  • BTL's in Scotland considered up to £1m

Difficult properties to place?

October 2015

Difficult properties to place? Let SMS help with your solution...

  • Granny Annex considered (terms apply)
  • Flats up to 20 Storeys
  • New build Flats with a commercial ground floor
  • Section 106 Planning obligations considered (terms apply)
  • 4 Students on 1 AST treated as standard

**New Build offers now valid for 6 months (can extend by further 3 months)**

New Fee Assisted SMS Products

October 2015

We have a wealth of lenders that can help with your more complicated BTL enquiries. For instance have you experience valuers coming back with rental yields less than your landlords already receive? If so call our team NOW... we may have just the solution for you:

  • AST's can accepted up to 3 years
  • AST = 4 students on 1 AST can accept on standard BTL terms
  • BTL Remortgage - Can work off AST rental figure (non furnished) as opposed to valuers rental figure
  • Bank statements not usually required
  • No proof of income required
  • BTL's in Scotland considered up to £1m

New Fee Assisted SMS Products

September 2015

The Dudley BS has announced the launch of two new products to cover both purchase and remortgage requirements of customers offering an initial rate of 3.89%.

Both products offer a 1.10% discount off the variable rate to a current rate of 3.89% for three years and the remortgage option provides both assistance with legal fees and a free valuation.

1.10% Three Year Discount Rate Remortgage Product (Max 90% LTV)

dudley-interest-rates

1.10% Three Year Discount Rate Purchase Only Product (Max 90% LTV)

dudley-interest-rates

Please note the removal of product 13012 (1.70% discount for self employed with three years accounts)

Buying or Refinancing a HMO on Buy to Let.

August 2015

Are your clients asking you about buying or refinancing a HMO on Buy to Let?

If they are, an SMS lender may be able to help.

Summary

  • Max 75%
  • Max 6 bedrooms
  • Min property value £150,000
  • Rental based on room by room basis
  • 1st applicant must have current 3 year BTL experience
  • Fixed rates from 4.29%
  • Tracker rates from 4.05%

New products from Dudley Building Society.

August 2015

We have announced the launch of two new products to cover both purchase and remortgage requirements of customers offering an initial rate of 3.89%.

Both products offer a 1.10% discount off our variable rate to a current rate of 3.89% for three years and the remortgage option provides both assistance with legal fees and a free valuation

1.10% Three Year Discount Rate Remortgage Product (Max 90% LTV)

dudley-interest-rates

1.10% Three Year Discount Rate Purchase Only Product (Max 90% LTV)

dudley-interest-rates

Please note the removal of product 13012 (1.70% discount for self employed with three years accounts)

SMS boosts customer service team

May 2015

Solent Mortgage Services (SMS), the national specialist lending distributor based in Gosport, has expanded its customer service team to cope with increasing business volumes.

The newcomers, Clare Sadler and Anna Thomson, join SMS as Team Leader and Administrator respectively in the new Business Team.

Clare started her financial services career at Britannia Building Society and then developed extensive underwriting experience with Preferred Mortgages, Mortgage plc. and Advantage. Clare joins SMS having spent the past seven years at Nationwide.

Anna is rejoining SMS having left the business in 2008 when the credit crunch hit the industry. Anna's banking career started at Barclays, where she worked for nine years, before a year with Abbey National. She first joined SMS in June 2001 and developed her customer service and underwriting skills as a Team Leader. Anna joins SMS from NCI Resources Ltd.

Chief Executive Officer, Ian Balfour commented, "SMS has seen a steady increase in new business over the last six months and with enquiry levels running higher every month this year, we wanted to ensure that our service would not suffer. So I am delighted to welcome back Anna to SMS and welcome Clare to the team. Both of them are vastly experienced in our market and I know that our introducers will enjoy working with them."

Fleet Mortgages, our new Buy to Let and Specialist lender.

Mortgages designed to fit the needs of first time landlords, professional landlords and Limited companies.

Criteria includes:

  • Up to 80% LTV
  • Student Lets
  • SPV Limited Companies
  • HMO’s
  • Freehold Blocks
  • Multiple Tenancies

Products priced from:

  • 2.79% for a fixed rate to 28/02/2017
  • 2.85% for a tracker rate to 28/02/2018

A New Year present, a New Lender

Happy New Year from SMS and Fleet Mortgages a new lender for your buy to let clients!

Fleet Mortgage's Buy-to-Let market can be best defined as:

  • Creditworthy and High Net Worth Private Investors with an appetite to diversify in BTL
  • Experienced Landlords with a proven track record
  • Experienced landlords of licensed Houses in Multiple Occupancy (HMOs)
  • Quality Investment Properties with an excellent rental yield, or potential for appreciation, in carefully selected areas as security to lend agains

Criteria highlights include:

  • Up to 80% LTV
  • Limited Company
  • Portfolio Landlords
  • Student Lets
  • HMO's
  • Freehold Blocks split into flats 10 units
  • Multiple Tenancies

Product range highlights include:

  • A two-year fixed-rate 65% LTV individual buy-to-let product priced at 2.79%. Fleet Mortgages also has two-year fixed-rate options at 75% LTV (3.29%) and 80% LTV (4.79%). Plus a five-year fixed rate for 75% LTV at 4.29%
  • Individual buy-to-let tracker options for three years at 65% LTV - 2.85%; 75% LTV - 3.35%; and 80% LTV - 4.75%. All tracker rates are based on LIBOR
  • Two-year limited company fixed-rate buy-to-let products priced at 4.39% (65% LTV), 4.59% (70% LTV), and 5.29% (80% LTV). Three-year tracker rates are priced at 4.55% (65% LTV), 4.75% (70% LTV), and 5.25% (80% LTV)
  • Two-year fixed-rate HMO buy-to-let products priced at 5.29% (65% LTV) and 5.39% (75% LTV). Fleet Mortgages is also offering a five-year fix at 75% LTV at 5.99% and a three-year tracker at 5.45% at 65% LTV

High street declines - Affordability based lending from SMS

High street declining cases on affordability, speak to SMS

Two examples of solutions for clients on cases completed recently.

Client 1:

  • Transfer of Equity case
  • Self-employed applicant - long running business for 11 years £60,000 basic salary
  • No outstanding credit or adverse
  • Customer required affordability based lending.
  • 80% LTV - 2 year discount rate 3.24%
  • Full loan agreed £400k

Client 2:

  • Purchase - downsizing from current property
  • EU Foreign Nationals
  • Mr employed - basic salary of £98,000
  • Mrs self-employed - 1 years trading £43,000
  • High street accepted but with restricted loan size Our lender agrees at full amount of £650k
  • 70% LTV - 2 year discount product, pay rate 2.94%
 

Working with Lenders.

Providing Intermediaries with Lending Solutions.