Temporary Relaxation of Rules on Right Rent

[loanarranger]

I often use 192.com to trace prospective tenants , if it comes back as none traceable I would give such a tenant a clear no , never rely on agents unless they are reputable and as already suggested I would independently ask for the last three months payslips and six months bank statements and check...

[loanarranger]

In my honest opinion you have answered the question yourself in your first Paragraph , You do nothing in terms of running the business including management , essential repairs etc so to avoid any misunderstanding the answer is NO.

[loanarranger]

Here is an extract from a briefing note on amended lending criteria from Nat West and Nationwide for those affected in employment terms ( Furloughed) and who are applying for a mortgage.

Nationwide and NatWest have outlined their affordability criteria for people impacted by the Covid-19...

[loanarranger]

Bluestone Mortgages , a relative new comer to the niche end of lending via the Intermediary channels have this morning withdrawn from accepting any new mortgage applications.

Any existing applications which are either in the course of being processed or pending completion will proceed to...

[loanarranger]

I think that for the next few months , attention should be made regarding what products are indeed available for specific loan to Values irrespective of whether it is a residential mortgage or BtL.
As I have posted in recent days , lenders have become cautious on the loan to Values , the exclusion...

[loanarranger]

Whilst is slightly out of the original posting I thought the following would be of interest to homeowners in difficulties, Landlords and of equal importance Tenants.

”All ongoing housing possessions and the court process for landlords to evict tenants have been suspended in England and...

[loanarranger]

Paragon Bank have released a briefing notes which to a greater extent is the most positive of all recent announcements from lenders but the change for the moment on Student Let properties is disappointing.

What we will still do:

• Lending up to 75% LTV
• Lending to portfolio and professional

...

[loanarranger]

Barclays Finally Decide to help BtL Borrowers

Barclays have now released a note confirming that they will assist BtL borrowers along with residential customers. Here is the link to go to and the form for application is at the end.

"https://www.barclays.co.uk/coronavir...

[loanarranger]

To help clarify the changes relating to TMW & Nationwide I am detailing the new LtV’s across both brands.

Nationwide for Intermediaries
Max LTV	Transaction type

...

[loanarranger]

Metro Bank have placed a maximum LtV of 80% across its residential mortgage range.

Bank of Ireland have dropped the maximum LtV on itsresidential products to 85%.

[loanarranger]

Nat West have just announced that they have placed a maximum LtV 80% for all new residential house purchase applications.

[loanarranger]

Hi Sam-Cat
Thanks for your kind comments.
At 60% LtV I doubt that you will have too much difficulty in getting another deal even though it is Barclays , but that is for another day.

Before leaping into a new deal , do explore what alternative facilities might be available to...

[loanarranger]

I thought I would share with you a set of stats relating to the dramatic changes occurring within the Residential & Buy to Let Mortgage products.
On 16th March there were 20000 mortgage schemes available but on 30th March this had shrunk to approximately 11500; a number of lenders have suspended...

[loanarranger]

On this particular topic I can only report what I know.
Personally I believe the intent is good but it’s practicalities particularly with what is being required of the general public can become somewhat confused.

[loanarranger]

The following lenders have today made announcements governing future lending at least whilst the uncertainty continues because of the Coronavirus and Institutional funding:

Virgin Money has suspended all new purchase applications across its mortgage range and Remortgage Applications have...

[loanarranger]

Right to rent rules have been relaxed during the coronavirus outbreak so that landlords and tenants do not have to meet in person to carry out the checks.
Under the temporary rules, tenants can scan and send copies of their identification or residency paperwork to their landlords which can then...

[loanarranger]

I thought I had closed the day on an optimistic note but sadly I have received a communication from Foundation Home Loans that they have withdrawn from lending across its entire range until the situation returns to normality.
This is disappointing as they were in the minority for providing funding...

[loanarranger]

I am pleased to report that Halifax are introducing tomorrow a limited range of residential mortgage products up to a maximum of 80% and BM hopes to launch revised loans beyond those previously announced.

[loanarranger]

Nationwide have also confirmed that for the present their maximum loan for purchase and Remortgage residential home loans will be restricted to a maximum of 75%

[loanarranger]

Very sad and bad news for BtL with The Mortgage Works, they have just announced the following :-

Temporarily pausing new lending at 80% LTV and for HMOs. I am seeking information whether HMO’s are completely out for the present....