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THE SPECIALIST RESIDENTIAL MORTGAGE 'STATE OF THE NATION'

March 2018

March has seen a plethora of new products, some of which exclusives, from our various lender partners including Pepper, Vida, Kensington and Kent Reliance.  The trend has been towards the higher LTV market as well as products that cater for clients with heavier adverse credit profiles.

 

New exclusive product

The new residential mortgage product from Kent Reliance, exclusively available via selected partners, targets near prime clients with a LTV up to 90% and rates starting from 3.19%.

The product ignores missed mortgage payments over 12 months old, as long as they’re currently up to date.  In addition, communication bill performance is ignored if the balance is below £500.  The product is available for first time buyers and the new range has seen the introduction of 1 years accounts for the self-employed, which now includes non-professional applicants.  Contractors are no longer subject to minimum income requirements.

 

Clients in DMPs

We now have access to a brand new product range that is targeted at clients who require a residential mortgage up to 85% LTV, but are in an active debt management plan.  The client is able to keep the DMP in place, or subject to status, can capital raise to clear it.  The product range also has solutions for clients with previous repossessions/discharged bankruptcy/IVA.

 

For full product details, or to tell us about your enquiry call our helpdesk on 01277 508955

 

Better service standards with Brightstar

Brightstar were recently crowned Magellan Homeloans ‘distributor of the year’ for 2017, and as a result we have been rewarded with enhanced service levels which will benefit the business and our introducers alike.

Magellan Homeloans is renowned for its flexible approach and 100% manual underwriting service.  Their product range offers solutions for near prime customers as well as those with heavier adverse including DMPs, IVAs and discharged bankruptcies.

 

Enhanced service levels include:

  • 24 hour DIP response
    • Standard is 5 days for direct business/via other packagers
  • Applications reviewed within 24 hours, fully underwritten in 3 days
    • Standard is 10 days for direct business/via other packagers
  • Post reviewed within 5 days
    • Standard is 10 days for direct business/via other packagers

 

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