ALL LENDER UPDATES

Development Finance; the EPC Challenge; Bridging Finance

We’ve been keeping a close eye on interest rates over the last few months, and where possible we’ve been trying to maintain our pricing in what has become a volatile market. However, with the last Bank Base Rate increase we’re having to make some small adjustments to our pricing. From Monday 23rd May we’ll be making the following changes to our 5 and 10 year Buy to Let products.

Rates are increasing across the Accord Residential New Business range

From Tuesday 24 May, TSB has made changes to their Residential products. The lender has temporarily withdrawn the following 5 Year Fixed, £0 fee products

Advanced notice that as of COB Tuesday 24th May we will be re-pricing our full product range across BTL and Residential with the exception of Right to Buy, Shared Ownership and Flexi-Fixed for Term. We will confirm full products at a later date.

Commercial Lending from Allica Bank

From Friday 20 May, TSB has made the following changes to their Residential and Buy to Let product ranges:

As we continue to see the effect of rising inflation and the impact on Savings rates, banks, brokers and customers alike are having to navigate an increasingly tricky journey. This, combined with the record volumes of business written in the past 12 weeks and subsequent impact to our service levels has led to us making a few changes.

Metro Bank will be making changes to Residential products

As we see larger volumes of lending applications and the growth of our broker panel, we continue to review our lending criteria to best meet the changing needs of you and your clients. This is an ongoing process as we respond to feedback from our key stakeholders, members of our broker panel, our borrowers and our team who work with the lending standards daily.