Financial Update – 23rd Feb 2021

Latest update from the Commercial Finance & Residential Mortgage market:

πŸ‘SMEs predict an 8.1% rise in revenue in 2021, and nearly four in ten (39%) say they are optimistic about their prospects.

πŸ‘ Metro Bank has increased its maximum loan size at 90% LTV to Β£675,000 from Β£540,000

πŸ‘ Accord Mortgaged increases aggregate lending limits from Β£1m to Β£3m for established buy-2-let landlords with no of max properties with Accord increased three to five and the total maximum portfolio size has increased from 15 to no limit.

πŸ‘ Ipswich Building Society has reduced rates on their 2-year 90% LTV residential mortgages, and are launching a brand new, 5-year fixed rate. Additionally, the lender is now offering fixed-rate options on Holiday Lets

πŸ‘ HSBC will now accept quarterly, half-yearly and annual bonus payments to support mortgage affordability

πŸ‘ The Nottingham has added a 90% LTV product for both purchase and remortgage

πŸ‘ NatWest has reintroduced a number of higher LTV products; Residential New Build Houses LTV increased from 80% to 85%; Transfer of Titles will be increased to 90% and 95% on a like for like basis

πŸ™†Remember: The market is continuously changing, so always check with your broker for the latest.

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