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 Accord, West Bromwich, Nottingham, Nat West, Leeds, Furness, Hodge, Scottish, TML and Saffron have all announced recent changes.
In criteria news, Accord makes amendments to the minimum background income level on their BTL range.
Newbury will now allow HMO property lending.
Foundation makes changes to their income multiples.
Santander will lend on Grade 1 property
In wider news, Kensington Mortgages has placed a £452m package of mortgage-backed securities in the wholesale financial markets. The specialist lender says its Finsbury Square 2021-2 bond was oversubscribed, with senior and mezzanine tranches sold to 26 different accounts. Senior debt was priced at 80 basis points over the sterling overnight indexed average. The deal will raise £463.7 million for the firm, which it will use to support complex lending and underserved borrowers.
In Insurance news, in a recent report from the AMI, nearly half, or 40% of borrowers aged 18 to 34, said they would consider income protection following the pandemic. This is nearly twice as many, at 19%, of the 35 to 54 years old cohort and 10 times as many as those aged 55 or over, of which 4% replied in the affirmative. Additionally, the younger age group believes that income protection is ‘just as important’ as buildings insurance.
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 : richard@rjmortgagefinance.co.uk
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| 2020 BLOGS | 08th January 2020 |
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2019 BLOGS |
11th December 2019 |