As part of our lender fayre, we will be handing out a number of awards to our lender partners, across several categories.
Your vote will determine who these winners are!
Whether you are attending the Lender Fayre or not, we would be very grateful if you could take 1 minute completing the survey below:
Just Mortgages Self Employed 2024 Lender Awards Survey
Thank you very much!
Join Smartr365 for their February webinars!
Each month Smartr365 will be hosting a series of informative and instructional webinars to help you make the very most of the valuable features of Smartr365. This month, Smartr365 have the following sessions available to you. Simply click on the icon to register. An invite with link will then be sent to you.
11th February – 1:30pm-2:00pm:
Learn more about how you can save on average 15 minutes per DIP with SmartrConnect.
12th February – 1:30pm-2:00pm:
Learn about how to quote and instruct eConveyancer all within the convenience of Smartr365
13th February – 1:30pm-2:00pm
Learn how to effectively source protection using Solution Builder within Smartr365
18th February – 1:30pm-2:00pm:
Learn more about how you can save on average 15 minutes per DIP with SmartrConnect.
25th February – 1:30pm-2:00pm:
Learn more about how you can save on average 15 S C
Aldermore launch back into 95% LTV lending!
Aldermore can now lend up to 95% LTV for residential purchases on our level 1 products.
Here are a few of the headlines:
Adverse Acceptable – including unsatisfied defaults and CCJ’s registered >36 months ago and active DMP (satisfactorily maintained for 12 months)
Latest years’ figures for self-employed even using NPAT for Ltd Co. Directors
Excellent affordability – up to 5.5 X income 100% overtime, 75% commission and bonus Up to age 75, max. 40-year term
Free val, fee free products, no upfront costs to applicant
For more information on how Aldermore can help with your mortgage cases, please visit their website at aldermore.co.uk/intermediaries/mortgages or contact your Business Development Manager.
LVEXCLUSIVE webinars in February
These are 25–30-minute CPD accredited webinars on the below dates – click the link and register to save a space!
This month’s webinar will develop or refresh your knowledge of LV= Income Protection. Having been recognised as the ‘Best Income Protection Provider’ for the last 15 years (Moneyfacts), LV’s aim is to explain the benefits that add value and enhance your client conversations, benefits that are included at no extra cost to, simplifying recommendations and your client’s education, benefits like our ‘unemployment payment holiday’.
Registration links - Save your seat today:
BM Solutions | Changes to product transfer cancellation period
With immediate effect, all product transfer completion letters and offers produced will have a 14-day cancellation period instead of the current 28 days.
All product transfers can still be cancelled up to the day before they take effect, however once a product transfer has taken effect this cannot be cancelled unless:
• It is within the 14-day cancellation period – this will only apply to product transfer’s which have been keyed late in the month before it takes effect on the 1st of the following month
• It is an exception when they have applied and have been declined for a further advance immediately after the product transfer has taken effect
The offer and completion letter wording is being amended to confirm the new cancellation period of 14 days.
Santander increase ERC waiver period for
existing home movers taking a new product
From Monday 3 February, Santander will waive the ERC for existing home movers who choose a new product where they have 9 months or less left on their current deal at the time of application.
Santander currently offer this to your clients who have 6 months or less left on their current deal. So, this gives you and your clients more flexibility when deciding what to do with the mortgage.
As a reminder, if they’re borrowing the same amount or more, Santander will waive the ERC in full. If they’re borrowing less, Santander waive the ERC on the amount on the new product.
Pipeline rules:
· All full mortgage applications (FMAs) submitted by 10pm on Sunday 2 February won’t be affected by these changes.
· Any FMAs submitted from 6am on Monday 3 February will be assessed using the new lending policy.
· If a material change is made to an existing application and the original case was submitted before 6am on Monday 3 February, it won’t be affected by these changes.
· If a material change is made to an existing application and the original case was submitted after 6am on Monday 3 February, it will be assessed using the new policy.
Skipton | Lending Policy Changes
From Monday 3rd February 2025, Skipton Building Society for Intermediaries will be making the following changes to Lending Policy:
Non-Standard Flats
(includes Ex local authority, within commercial/retail outlets, deck access, mezzanine floor, studio flat)
Min property value required within Greater London will be £200k (previously £300k)
CIS Workers
Income will be calculated using an average of the last 13 weeks payments x 48 weeks (previously 12 weeks payments required)
BTL Rental Calculations
Portfolio Landlords/Higher rate taxpayers
· Less than 5-year fixed rate product selected – 145% @ 7.94%
· 5-year fixed rate product or more selected – 145% @ 6.29%
Standard rate taxpayers
· Less than 5-year fixed rate product selected – 125% @ 7.94%
· 5-year fixed rate product or more selected – 125% @ 6.29%
Like for Like Remortgage (regardless of Tax Statusexcludes CBTL and LTB)
· Less than 5-year fixed rate product selected – 125% @ 7.94%
· 5-year fixed rate product or more selected – 125% @ 6.29%
BTL Additional Borrowing (irrespective of product selected)
Kickstart 2025 with these Para to Let market Insights!
Paragon is excited to bring you the latest updates, insights, and success stories in it first newsletter of the year.
This edition is packed with valuable information to help you guide your clients through the buy-to-let and property investment landscape. Simply click on the links below:
Five key trends in 2025
Renters' Rights Bill explained Warm homes grant
Opportunities in the 2025 BTL mortgage market
Is buy-to-let dead?
Despite recent challenges like higher interest rates and increased regulation, the buy-to-let market shows strong signs of life with record-high rents and robust tenant demand. While the sector is evolving, opportunities remain for adaptable landlords, particularly in high-yield properties, refurbishment projects, and refinancing.
Read Paragon's full analysis to understand why buy-to-let is far from dead and how landlords can thrive in today's market. Read more
Accord reduces Interest Coverage Ratio Rate (ICRR) for background properties
Accord have reduced their Interest Coverage Ratio Rate (ICRR) used for Residential background properties and BTL portfolios.
What’s changed?
A reduction to the ICRR used to assess the affordability of background properties from 5.5% to 5.0%. This change applies to new applications for either a Buy to Let or Residential mortgage with Accord.
Accord enhance £5k Deposit Mortgage
Accord is excited to let you know they are enhancing their £5K Deposit Mortgage proposition to now include flats. This is great news for both brokers and their clients and will help even more first-time buyers onto the property ladder.
Find out more here.
Hodge expand mortgage criteria
Hodge have expanded their mortgage criteria to be more accessible for foreign nationals. Helping make their products as flexible and inclusive as possible. What exactly has changed in our criteria?
Loan-to-Value (LTV) – The maximum LTV has been increased from 80% to 90%, making it easier for foreign nationals to secure a mortgage with a lower deposit.
No minimum income requirement – The previous minimum income requirement has been removed, allowing more applicants to qualify, including those with non-traditional income sources.
Accepted visas – The criteria enhancements apply to Global Talent, Skilled Worker, Health & Care Worker, and Spousal visas. This change is in line with Hodge’s mission to support individuals in key sectors like healthcare and technology.
No minimum time remaining on visa – Previously, applicants needed at least 24 months remaining on their visa to apply. This condition has been removed, making the process more accessible for those with any valid visa.
