Mortgage and Insurance Blog

Date - 28th 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 Furness, Bank of Ireland, Leeds, CHL, Foundation, Leek, Nottingham and Vernon all announcing changes.

In criteria news, Market Harborough make changes to their furloughed income rule.

Furness make changes to its Pre-Settled EU status rule.

Melton make changes to its outstanding SEISS rule.

Paragon will allow back to back re-mortgage / bridging finance applications.


In wider news, Fleet Mortgages has been acquired by digital challenger Starling Bank, in a £50m cash and share transaction.

And in a similar story, Secure Trust Bank (STB) has finalised its exit from residential mortgages with the sale of its loan book. The portfolio will be acquired for £54.6m by financing vehicle Jacqali Designated Activity Company. STB said in January 2019 that it would withdraw from residential lending, citing competition and pressure on the housing market, and stopped taking new mortgage applications a month later.

Affordability pressures bore down on first-time buyers ahead of the first stamp duty holiday deadline in June, according to an Imla report, as other deposit-rich buyers beat them to the punch.
Intermediary Mortgage Lender Association (Imla) Covid update report confirmed the proportion of first-time buyers had dropped to its lowest level since 2017, despite numbers picking up in recent months.


In Insurance news, The Exeter have launched a new product ( Income First ) which aims to "simplify the income protection journey" for customers providing cover across a range of occupation classes.

The Exeter has introduced level guaranteed premiums across all occupation classes, in conjunction with continuing to offer age-costed options, while the need for medical evidence at the underwriting stage has also been reduced with improved non-medical limits.

The new product also features The Exeter's new ‘employer change promise', aimed at members that change employment during the term of their policy and find that their sick pay is restricted, which can occur during initial probatory periods of employment.


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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