REASON TO SMILE NUMBER ONE.
Rate reduction for new business.
Legal & General have reduced rates for new and existing borrowers for new business, meaning that you can offer the same highly-rated product at more competitive prices
REASON TO SMILE NUMBER TWO.
Unemployment cover now available to existing borrowers for new business as part of full MPPI (ASU) cover. L&G have been continually monitoring the economic climate and its
impact on unemployment in the UK, as well as listening to IFA partners to understand what you need most. Now they are happy to confirm that from 19 July 2010 they will be making unemployment cover available again for existing borrowers as part of full MPPI (ASU) cover.
For full details visit L&G's Website: www.gicentre.co.uk/
Looking to the future of Buy to Let with BM Solutions
Buy to Let is an area of the market that has experienced some contraction in recent years but CML lending figures for the first quarter of 2010 suggest it has settled into a period of stability and looking forward the outlook is increasingly positive for those operating in this sector.
As we see a re-emergence of the specialist mortgage market it is evident that intermediaries, more than ever, recognise the importance of brands that have remained committed to the intermediary sector throughout some unparalleled times. At BM Solutions, we've certainly shown an ongoing commitment to the Buy to Let market and brokers should be confident that this will continue into the future.
It would be foolhardy to suggest that Buy to Let lending is close to the highs of the pre-credit crunch era but prospects for the rental market remain good. Tenant demand is strong and is expected to continue growing as a result of significant socio-economic and demographic changes. One cloud looming over the sector in recent times was the possibility of a significant hike in Capital Gains Tax which carried with it the potential of severe repercussions for Buy to Let investors. However, the resultant 10% rise was far less than anticipated and whilst it will inevitably have some small impact, the fact remains that the majority of residential property investors are medium to long term investors that factor in returns from rental yields and not just capital gains. So whilst that particular dark cloud may have been lifted somewhat it served to underline the importance of lender support in the specialist markets.
Sally Laker, Managing Director of Mortgage Intelligence Holdings certainly believes that while the market has changed, demand for Buy to Let products continues and the buoyant rental market will further fuel this. “The Buy to Let landscape has significantly changed, fewer lenders are lending, fewer products are available and consumer confidence has been knocked. Despite this BM Solutions have continued to provide competitive products, quality service and a slick system for advisers. BM Solutions are vital to the specialist market and I have no doubt that they will remain a leading lender for Buy to Let business.
Technology and service have always been at the forefront of our offering at BM Solutions and the fact that we remain the only lender to achieve the prestigious Financial Adviser Five Star Service Award for the past five consecutive years is testament to the level of support on offer.
This specialist professional service is evident across all kinds of Buy to Let clients from first-time landlords through to those with a wide ranging property portfolio. Backed by our innovative One Minute Mortgage application brokers remain in a prime position to take advantage of fast processing and additional income streams to really drive their business.
Inevitably some lingering political, Bank rate ruminations and funding issues continue to curtail Buy to Let lending to an extent but lessons have been learnt and from an intermediary perspective it’s even clearer than ever that providers simply offering good rates are not enough. Brokers are reliant upon lenders with the necessary technical expertise backed by superb service in order to best serve their client’s requirements. In addition the modern intermediary mortgage market demands that lenders also offer services in addition to mortgage deals which can help brokers earn additional income. An offering such as our BM Conveyancing proposition can provide brokers with a simple and efficient way to refer clients whilst boosting income streams via a referral fee of up to £200 per case.
Looking for the best deals and products for clients remains at the forefront of any good broker’s proposition and when looking at the Buy to Let market and further afield there is little need to look further than BM Solutions. bmsolutions.co.uk.
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If you do not have professional experience, you should not rely on the information contained in this communication. If you are a professional and you reproduce any part of the information contained in this communication, to be used with or to advise private clients, you must ensure it conforms to the Financial Services Authority’s advising and selling rules. Birmingham Midshires is a division of Bank of Scotland plc. Registered in Scotland No.SC327000. Registered Office: The Mound, Edinburgh EH1 1YZ
Register today for your chance to win an ipad or £500 worth of holiday voucher with Precise Mortgages.
For further details please contact the New Business Team on 0845 130 2223.
By Sally Laker, Managing Director, Mortgage Next & Mortgage Intelligence.
Visit www.moneymarketing.co.uk/mortgages/a-fine-balance-for-property/1013934.article to read the article.
We are delighted to have won Best Mortgage Network at the recent Mortgage Strategy Awards 2010. Following adviser & industry nominations via the Mortgage Strategy website, an independent judging panel awarded Mortgage Intelligence Holdings the prestigious acolade of joint first place for Best Mortgage Network.
Sally Laker, Managing Director, Mortgage Intelligence Holdings comments,
“We are absolutely over the moon to receive the award for Best Mortgage Network. It is testament to the continued hard work & success of all our members & staff through what has undoubtedly been a challenging time for the industry. I would like to thank all those who took the time to vote for us and I look forward to continuing to develop both Mortgage Next Network & Mortgage Intelligence as the premium, quality networks that they are recognised for.”
Have you looked at our white label website facility? It enables you to have your own professionally designed website for just £39 per month! Look in the Marketing Department of this website for further details or visit www.mortgagenext.co.uk/whitelabel for an example.
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