Sharon Van Loenen

Following a recent review Gatehouse Bank have made the following changes regarding information they require to be provided in support of Home Finance applications for both Buy-to-Let (BTL) and Home Purchase Plan (HPP) products.

33 products will be withdrawn and relaunched with the only change being applied to the product shortcode due to a system update on 8th Feb 2022
See attached spreadsheet. Tab one: new products, Tab two: products to be withdrawn

This significant pricing reduction will see rates now start from as low as 0.47% for regulated and non-regulated bridging for both light refurbishment and their standard bridging ranges.  

Following the Bank of England base rate increase of 0.25% to 0.50% on 3 February, TSB has made the following changes to their products from 7 February.

With  effect from close of business Monday 7th February, we will be withdrawing the Residential Select 5 year fixed term 70& LTV products.

The Mortgage Lender have some BTL product changes coming your way!

As Barclays’ variable rate mortgage products track Bank of England Base Rate (BEBR), from today, the rate for new mortgage customers will be 0.50% and for existing Barclays tracker mortgage customers the new rate will come into effect from Tuesday 1st March 2022.

Hampshire Trust Bank would like to make superheroes out of their brokers. If you’re looking to get the job done at speed, you can fast-track your bridging requirements with HTB. That’s because, for loans up to £1m, they’ll give you access to a dedicated underwriter, a decision within 4 hours and enable you to instruct the valuation and solicitor whilst we get on with the underwriting. 

Suffolk Building Society have reduced rates across a wide range of their core lending areas and made to change to their SVR