The change is being made in response to feedback from intermediaries, as well as research showing that nearly a third of all remortgage applications are reserved more than three months in advance of the customer’s existing mortgage deal coming to an end.
The monthly cost of full time nursery care for a child under the age of two in England is £1,065 and £1,040 a month for a two to three-year-old.
The technology has established a connection between the two services, though it does not depend on an API.
Mark Baty joins as operations and marketing director, Richard Tanks has been hired as area sales manager and Kieran Megran takes the role of protection adviser.
The product, for portfolio landlords, limited companies and individuals, is available at 3.59% up to 65% LTV and 3.89% up to 75% LTV and comes with a fee of £2,995 with stepped ERCs from 5% down to 1%. It comes with a free standard valuation and £250 cashback upon completion.
In Yorkshire 34.9% of all loans went to this part of the market, higher than all rival regions. In the North West, the nearest challenger, this figure was 33.7%. The only other region to record over 30% was the Midlands, which registered a total of 31.3% this month.
The study proposed making buy-to-let landlords show that their existing income is sufficient to cover mortgage costs rather than stress testing based on rental income. It also said mortgage interest relief should be scrapped.
These tenants are said to be stuck in cold, damp properties, with landlords who are unwilling to carry out basic repairs and maintenance.
James Brokenshire MP put forward the proposal yesterday but has received a somewhat hostile response.
The report proposed that council tax be replaced by a ‘progressive property tax’ payable by the owners, not the tenants, while it recommended having a progressively higher rate of taxation for the top four property bands by value.