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The Trinity Mortgage Update - Mortgage Market Review deadline approaches

  Mortgage Market Review deadline approaches The final deadline for mortgage lenders and brokers to be Mortgage Market Review compliant is upon us. The industry has been busy warning applicants what they can expect when they apply for a mortgage after April 26. Aaron Strutt, product manager at Trinity Financial, says: “Mortgage lenders will be looking at applications more closely and requesting extra documentation. Many of the questions will be based around affordability. "Some larger banks have made it clear they want to offer more mortgages this year, so they will not want to be harder than necessary. It is certainly worth checking your finances are in order before applying for a mortgage."   Godiva launches more buy-to-let mortgages Godiva Mortgages has a launched a 3.45% two-year fixed buy-to-let mortgage. Landlords will need a 30% deposit to access the rate and it has a £1,999 arrangement fee.The APR is 4.8% and the reversion rate is 4.74%. Trinity can offer a full range of buy-to-let mortgages and applicants will need at least a 15% deposit to access them. However, there are some great rates available for those able to put down a larger deposit. For example, Santander for Intermediaries is offering one of the lowest buy-to-let mortgages at 2.69% for landlords with a 40% deposit. It has a £1,495 arrangement fee and applicants will need a minimum income of £25,000 each year to qualify.The APR is 4.7% and the reversion rate is 4.74%.   Lenders pull out of regulated buy-to-let market A host of banks have pulled out of the regulated buy-to-let mortgage market making it harder for parents to buy investment properties and allow their children to live in them. Clydesdale Bank has said it will no longer accept regulated buy-to-let applications, following moves from BM Solutions and NatWest. Trinity Financial told The Sunday Times: “Demand for buy-to-let property is getting stronger and there are a number of parents who like the idea of letting their children live in their investment. Without this they will need to put down a bigger deposit and apply for a second home mortgage.”   If youwould like help to secure a leading mortgage, callTrinity Financialon 020 7016 0790

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Mortgage Market Review deadline approaches

The final deadline for mortgage lenders and brokers to be Mortgage Market Review compliant is upon us. The industry has been busy warning applicants what they can expect when they apply for a mortgage after April 26.

Aaron Strutt, product manager at Trinity Financial, says: “Mortgage lenders will be looking at applications more closely and requesting extra documentation. Many of the questions will be based around affordability.

"Some larger banks have made it clear they want to offer more mortgages this year, so they will not want to be harder than necessary. It is certainly worth checking your finances are in order before applying for a mortgage."

 

Godiva launches more buy-to-let mortgages

Godiva Mortgages has a launched a 3.45% two-year fixed buy-to-let mortgage. Landlords will need a 30% deposit to access the rate and it has a £1,999 arrangement fee.The APR is 4.8% and the reversion rate is 4.74%.

Trinity can offer a full range of buy-to-let mortgages and applicants will need at least a 15% deposit to access them. However, there are some great rates available for those able to put down a larger deposit.

For example, Santander for Intermediaries is offering one of the lowest buy-to-let mortgages at 2.69% for landlords with a 40% deposit. It has a £1,495 arrangement fee and applicants will need a minimum income of £25,000 each year to qualify.The APR is 4.7% and the reversion rate is 4.74%.

 

Lenders pull out of regulated buy-to-let market

A host of banks have pulled out of the regulated buy-to-let mortgage market making it harder for parents to buy investment properties and allow their children to live in them.

Clydesdale Bank has said it will no longer accept regulated buy-to-let applications, following moves from BM Solutions and NatWest.

Trinity Financial told The Sunday Times: “Demand for buy-to-let property is getting stronger and there are a number of parents who like the idea of letting their children live in their investment. Without this they will need to put down a bigger deposit and apply for a second home mortgage.”

 

If youwould like help to secure a leading mortgage, callTrinity Financialon 020 7016 0790

Trinity banner_footer

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