The second charge market has always been known for its ability to provide solutions where mainstream lending falls short, but over the past 12 months the sector has become noticeably more dynamic. We are seeing lenders move away from rigid, one-size-fits-all criteria and towards a… The post Second Charge Watch: Flexibility is reshaping the market appeared first on Mortgage Strategy.
Barclays has eased its affordability tests for borrowers, lowering the stress rate and increasing loan-to-income multiples. In an email to brokers the lender says the changes mean some clients will be able to borrow more. Barclays has reduced the stress rate on residential mortgages up… The post Barclays eases affordability restrictions appeared first on Mortgage Strategy.
Brickflow has added Pallas Capital to its panel of lender partners. The partnership provides brokers using the Brickflow platform with access to Pallas Capital’s development and bridging finance solutions. Pallas Capital’s development finance facilities includes loan sizes from £1m to £35m, up to 70% LTGDV and… The post Brickflow adds Pallas Capital to lending panel appeared first on Mortgage Strategy.
Brokers should consider whether clients are better off using a second charge loan to raise capital instead of locking into high rates on longer-term products, according to Loans Warehouse. The lender says that, particularly in the current market, brokers should be weighing up second charge… The post ‘Don’t ignore second charges,’ brokers are warned appeared first on Mortgage Strategy.
Rely, part of OneSavings Bank, has confirmed rate reductions across its range – including its limited edition products. The lender is offering a one-year fixed, 3.68% (down by 0.54%); a two-year fixed, 3.80% (down by 0.54%); and a five -year fixed, 4.73% (down by 0.49%).… The post Rate changes from Rely, Leeds BS and Clydesdale appeared first on Mortgage Strategy.
