April was a very encouraging month as the weather finally started to improve, which helped to drive an increasing number of enquiries for new purchases.
We are seeing a lot of enquiries for higher LTV mortgages, ranging from 90% LTV to 95% LTV, from first-time buyers and home movers who want a fees free product or minimum upfront borrowing costs as they have limited funds to put down.
Fortunately, Brightstar has access to some semi-exclusive products that will provide solutions for these types of borrowers, even if they have historic CCJs or Defaults and / or may have missed a couple of payments on unsecured credit in the last 12 months.
At the other end of the spectrum, Brightstar has just been given access to semi-exclusive products that can provide lending for clients who are still within an IVA. This is extremely refreshing as these are borrowers who have decided to take the responsibility of repaying their debts as opposed to opting for Bankruptcy, or not satisfying Defaults or CCJs. It means these applicants are now getting the recognition they deserve because they’ve taken steps to clear past debts, and they are not being penalised for doing so in a structured way.
And finally, in June, Brightstar will be running specialist lending workshops that have been designed to help brokers engage with the market in a way that best suits their business.
On Thursday 7th June, we are inviting brokers already involved with specialist lending to discuss their cases directly with experts at the Brightstar clinic, meet some of the biggest specialist lenders in the UK market and learn new ways to upskill and diversify into additional lending areas.
Then, on Thursday 21st June, we are running a workshop for brokers who don’t currently have the time or knowledge to offer specialist solutions to their clients, with information on how they can increase their income potential by referring enquiries to an expert.
The workshops are taking place in partnership with Magellan Homeloans, InterBay Commercial, United Trust Bank, Pepper Money, Kensington and TML and will be held at our headquarters in Billericay, Essex, at 10.30am.
Both workshops will cover specialist residential lending, complex buy-to-let, second charge mortgages, short term lending, commercial finance and unsecured loans.
If you would like to learn more or secure your place on one of these workshops, click here.
READ our case study and product of the month
TELL US ABOUT YOUR ENQUIRY