If you have clients who are looking to remortgage their residential property, are under the 60% LTV threshold, with a strong credit rating, income and affordability to present, then there has perhaps been no better time for them to be coming to market.
In his first Mansion House speech on 1 July, Chancellor Rishi Sunak set out his vision for financial services to be ‘more open, more competitive, more technologically advanced and more sustainable’.
The recent positive news that a UK specialist lender has completed a £350m mortgage securitisation is a welcome fillip for the RMBS industry.
It’s certainly been an interesting year for the UK property market. After a tumultuous 2020, the purchase market is booming thanks to the stamp duty holiday, low product rates, the post-Brexit ‘Boris Bounce’, and increased demand for larger properties due to home working.
Like all regulations, the laws governing onboarding new customers is packed full of acronyms, and terms which mean little outside of the context of anti-money laundering (AML) legislation.
This stamp duty holiday has revitalised the property market, with investors and developers rushing to get deals over the line and as a result, house prices have risen rapidly.
The specialist lending market continues to support those borrowers who are disenfranchised by the mainstream lending community by offering alternative options.
If you are self-employed currently, you could be forgiven in thinking that everyone is conspiring against you.
Outside of the moral obligations for preventing money laundering, brokers need to ensure they are doing their due diligence to avoid getting blacklisted by lenders.
Purchasing a holiday let in a prime holiday location, whether established or up and coming, is a strong option for maximising returns and is creating increased demand for specialist holiday let mortgages.