Mortgage roundup – fresh products for advisers and landlords incoming

The Nottingham has unveiled loan-to-value (LTV) limited company buy-to-let (BTL) fixed-rate products.

The building society has announced four new two and five-year fixed mortgages – all with a free valuation – which add further choice to a range that has been evolving in 2021.

Two-year fixed products priced at 3.10% (£999 fee) and 3.40% (no fees) and five-year offerings at 3.30% (£999 fee) and 3.50% (no fee) are available.

The Nottingham’s head of intermediary sales, Nikki Warren-Dean, says: “We’re pleased to introduce such competitive products to landlords who want to put down bigger deposits.”

“We aim to keep developing our mortgage products so they provide choice and cater for all, which fits with The Nottingham’s ethos of helping as many people as possible have a roof over their heads.”

Dudley launches large loan product and 95% LTV mortgage

Specialist lender Dudley Building Society has launched a new product to cater for larger loan amounts of up to £1.5 million.

The society has also released a 95% mortgage aimed at ‘local’ customers buying or remortgaging in specific regional postcodes.

Advisers now have access to a mortgage where customers can apply for loan amounts between £1 million and £1.5 million with a two-year fixed rate of 3.69%, up to 80% LTV.

Dudley also continues supporting its regional customer base in the Dudley, Wolverhampton, Walsall and Birmingham postcode areas by introducing a new 95% LTV mortgage for purchase and remortgage with a five-year fixed-rate at 3.99%.

Enhancements have also been made to six further advanced products with reduced rates.

Sam Ward, commercial director at Dudley, comments: “We wanted to fill the gap in our range for the growing number of requests for funding in excess of £1 million.”

“Thanks to the strong two-way relationships between ourselves and our introducers, we have been able to respond quickly and launch a product that answers those requests for a larger maximum loan.”

Ward, who says Dudley is proud of its local roots, adds: “Our 95% product, where the society pays the higher lending charge because we know how difficult it is to save a deposit, is therefore designed specifically to give a helping hand to local people wishing to buy and stay in the Midlands.”

Central Trust goes live on Criteria Hub

Users of Criteria Hub, the criteria-based sourcing platform from Mortgage Brain, will now be able to include Central Trust in their searches.

Mortgage brokers using Criteria Hub are able to search across thousands of different criteria employed by different mortgage lenders to identify which are most suitable for their clients.

The hub is designed to include more criteria than most lenders publish on their own websites. All of the data included is set, managed and verified by lenders, so brokers can be sure of its accuracy.

Watford-based Central Trust is a secured loan specialist that currently provides loans of between £10,000 and £250,000 across terms ranging from three to 25 years, and up to a maximum LTV of 75%.

Maeve Ward, commercial director at Central Trust, says: “We are delighted to go live on Criteria Hub. Brokers play a vital role in helping borrowers find the best second charge funding available to them, and we are keen to support Criteria Hub as it is clear that it provides time-saving benefits for brokers and their clients.”

Neil Wyatt, sales and marketing director at Mortgage Brain, adds: “There is undeniable momentum growing behind Criteria Hub, with brokers able to source across dozens of different lenders and thousands of criteria when using the solution.”

“This can save brokers invaluable time, quickly helping them identify the most appropriate lenders. That’s no mean feat given the speed at which products and criteria have changed since the onset of the pandemic.”

Saffron BS partners with Brilliant Solutions Mortgage Club

Saffron for Intermediaries and Brilliant Solutions Mortgage Club have partnered to offer club members access to the society’s range of specialist mortgage products.

The partnership will provide Brilliant Solutions’ intermediaries access to Saffron Building Society’s wide range of specialist products, such as self and custom build, self-employed, contractor and the joint borrower sole proprietor mortgage for first-time buyers.

Tony Hall, head of mortgage sales at Saffron, comments: “After the soft launch in 2020, we are delighted to be fully launching our partnership with Brilliant Solutions Mortgage Club and continuing to build a strong relationship for their club members, who can access our full product range focused on helping all borrowers; especially those with non-traditional circumstances through our ‘Special Situations’ product range.”

Matthew Arena, managing director of Brilliant Solutions, adds: “Saffron for Intermediaries has demonstrated its desire and ability to support intermediaries and their specialist client base and their focus in these areas makes them a valuable permanent addition to our panel.”