Castle Trust Bank has updated its TermTen buy-to-let (BTL) product as rates continue to rise. The TermTen product has a booking fee of 0.07%, which the lender says will ‘lock in’ the current rate. The fee is payable when a credit-backed decision in principle has been agreed and will secure the rate for 120 days … Read more
HSBC and NatWest have announced changes to their mortgage range, effective today. HSBS has increased its residential standard variable rate (SVR) from 4.04% to 4.29%. The lender said any customers who are currently on the residential SVR will be notified of changes to their payments in writing. It also highlighted that there are no changes … Read more
TSB has announced changes to its residential, buy-to-let (BTL) and product transfer ranges. For residential products, it has increased its five-year fixed first-time buyer and house purchase 85% to 95% loan-to-value (LTV) rates by up to 0.40%. The 90-95% LTV with a £995 fee has increased by 0.40% from 3.29% to 3.69% while the 90-95% … Read more
Ceta Insurance has launched a new home insurance product. Prestige Notional is available to brokers using the Ceta’s Infinity Platform that provides clients blanket cover for £1m on their property and £100,000 for contents. The new home insurance product is backed by Aviva. Ceta Insurance commercial director James O’Hara says: “Prestige Notional is a great … Read more
Aura Underwriting, part of Rokstone, the Aventum Group’s global specialty re/insurance MGA, has announced the launch of Aura Parametric, a new Caribbean parametric product to complement its existing Lloyds Caribbean binder. The product provides reinsurance for hurricanes that intersect a pre-defined radius of an insured’s location (typically 40 miles). Quotes are available in minutes and … Read more
Digital lender StrideUp is targeting first-time buyers with the launch of a shared ownership mortgage product that offers loans at up to six-and-a-half times income. Customers will need a 10% deposit to buy in partnership with the firm, and then make a single monthly payment covering repayments and rent, which allows them to effectively borrow … Read more
HSBC and Virgin Money have both announced product changes following the Bank of England’s (BoE) decision yesterday to increase the base rate to 1.25%. HSBC says its tracker rates will include the increased base rate from today (17 June). It notes that there will be no changes to its residential standard variable rate or buy-to-let … Read more
Santander has made product changes for existing customers in light of the Bank of England’s decision yesterday to increase the base rate. Yesterday the Monetary Policy Committee (MPC) voted by a majority of 6-3 to increase the bank rate by 0.25 percentage points, to 1.25%. The members in the minority voted to increase the bank … Read more
Credit verification leader Xactus is rolling out an active listing product for lenders that it claims offers the most active listings within the mortgage industry. The new “Active Listing Scan” offers coverage of 97% of multiple listing services in the country, Xactus said last week. The product is launched in the midst of airtight housing … Read more
Erickson, who has almost 20 years of industry experience, joined Motto from Guaranteed Rate, where he served as vice president of product management. Before Guaranteed Rate, he held various leadership positions at CoreLogic, Nationstar Mortgage, CitiBank, Mr. Cooper, Caliber Funding, and Primary Residential Mortgage Commenting on the appointment, company president and CEO Ward Morrison said: … Read more