Mortgage and Insurance Blog

Date - 05th October 2021

Written by Richard Johnson


Hello again readers,

I hope you are all keeping safe and well and if you need any assistance with your mortgage finance or insurance needs, please feel free to email / call me and I will be happy to help.


It has been a busy week in the interest rate world this week with Halifax, Melton, Leek, Vernon, Tipton, Clydesdale, Foundation, Nat West, Nottingham and Saffron have all announced changes.

Many lenders now are offering their lowest ever mortgage rates and there are many lenders with sub 1% for 2 -5 years.


In criteria news, Tipton announce a change to borrowers who have accepted a recent SEISS grant.

Skipton announce a change effecting search indemnity insurance for purchase applications.

Digital Bank and Aldermore announce new criteria allowing various levels of adverse credit on any applicant’s credit record.

TML announce they will consider pre covid trading accounts if current bank statements show similar levels of income.

The Nottingham makes changes to their BTL and Limited Company BTL criteria, impacting loan size, number of bedrooms and portfolio landlord experience requirements.


In wider news, UK lenders are increasingly reliant on broker channels for distribution of their mortgage products, a study has found. The Iress Mortgage Efficiency Survey unveiled that the number of mortgage applications through brokers was up from 77.5% to 90% over the last year.

The survey, in its 10th year, also found that lenders have substantially improved their processes, focusing on system modernisation, process efficiency and digitisation, driven by restrictions in place throughout the pandemic.


Demand for rental properties is at the highest level recorded since the first quarter of 2016, a new survey carried out by the National Residential Landlords Association shows. A total of 39% of landlords in England and Wales reported an increase in demand in Q2 2021, up from 31% in Q1.



In Insurance news, Vitality remained focused on being there for members and their families when they needed it most. In 2020, they paid out a record £91.6m worth of protection claims to their members.

LV= has released two new income protection products, one designed for workers, the other designed for small businesses. The first product, Mortgage and Rent cover, is aimed at workers who have a variable income and may not be able to prove their earnings easily. It requires no evidence of minimum hours worked or proof of income for applications or claims.

The second product, Executive Income Protection, is aimed at small businesses that cannot access group protection.



If you need help looking into the wordings and definitions of a new plan, please feel free to get in touch and I’ll be happy to help arrange the new cover.


All the very best,


Richard Johnson

Cert CII (MP), CeCM, AdvCemap, CeRGI

Mortgage and Insurance Consultant.

Mobile Phone ; 07881802962

Office : 0208 245 8464 direct dial

Email :





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