Mortgage and Insurance Blog

Date - 14th July 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, with Foundation, Hinkley, Masthaven, Leeds, Nat West, Progressive, Tipton, Harpenden, Principality, Paragon and Vernon all announcing changes. Several lenders have launched “green BTL mortgages” for properties which are based on an EPC rating of A, B or C.


In criteria news, Santander announce new rules relating to the source of a deposit for a purchase application.

Clydesdale announce changes to their contractor criteria following the IR35 changes.

Accord have increased the minimum income requirement for applicants needing the 5 x salary income multiple.

Precise makes a number of changes to its acceptable reasons for capital raising list while re-mortgaging.

Together have made a wide range of changes, including adverse, Loan to values and acceptable property types.


In wider news, an interesting piece of analysis shows, that over the last six months, fewer mortgage lenders have been able to provide the loan size requested by borrowers, despite lenders increasing the average available maximum loan size.

Analysis of cases processed through Mortgage Broker Tools (MBT) shows that in June of this year, the average largest loan size available to customers was £243,250 – an increase of nearly 4% on January when it was £234,244. However, the percentage of lenders that were able to meet the loan amount requested by a borrower fell from 80% in January to 73% in June.

The difference has been even greater for first-time buyers. In January, the average largest loan size available to a first-time buyer was £230,555, rising by more than 13% to £261,290. This has, in some way, been driven by the increasing number of options at higher LTVs. However, while 86% of lenders were able to meet the loan requested by first-time buyers in January, this had dropped to 72% in June.


In Insurance news, new research from MetLife shows that UK adults are increasingly adopting new hobbies during the pandemic, as the number of claims for accidents are also on the rise. According to MetLife, fracture claims have grown by 51% when compared to pre-pandemic levels.

A total of 634 claims have been submitted in just one month totalling more than £400,000. Almost half of the claims submitted were for children (309 vs 328 for adults). The rise in claims comes as UK adults have increasingly taken up new hobbies during the pandemic, most of which are comprised of physical exercise, such as swimming, running, cycling, team sports and weightlifting.

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.

I hope you found this post of interest and feel free to get in touch with me if you need any help with your mortgage or insurance needs,


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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