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is our take on what is currently happening in the mortgage market. Our views
are often cited in several national publications, including; BBC News, The
Times, Telegraph, City AM, FT Adviser and Daily Mail, as well as a number of
key trade publications, so this should keep you ahead of the curve. If you have
any questions on any of these stories, or would like further information,
please do not hesitate to get in touch.
Large rate increase by Santander of up to 0.55%
Santander have increased their rates this week by up to 0.55%, with plenty of the increases being more than 0.4% across their fixed rate range at most LTV levels. Likewise, HSBC have also warned they will be increasing their rates at midnight tonight, these rapid changes with less than a days notice keeps brokers busy and clients often frustrated if a deal is missed out on.
Specialist lender Molo suspends their BTL products
Molo, a specialist lender, has temporarily withdrawn its buy-to-let products from the market as they run dry of available funding and have not yet finalised their next funding line. For more information: https://molofinance.com/mortgage/buy-to-let
Lenders more flexible with their income multiples
Over the last year, we have seen several lenders become more flexible with their income multiples, increasing their maximum borrowing levels customers can achieve for example Halifax and HSBC increasing their maximum multiples to 5.5x, Kensington allowing 6x on certain products, etc. This week TSB raised their maximum multiple to 5x also, from the previous 4.75x.