Product Watch: a round up of this week's criteria changes

Hinckley & Rugby Intermediaries

Hinckley & Rugby can allow a client to let their existing property and purchase a new residence up to 95% LTV.

Halifax

Halifax can allow married clients to purchase a property in one of the client’s names only so it doesn’t have to be in joint names. The client not on the mortgage must be named as an additional occupier. Other lenders who can do this are the Principality.

NatWest Intermediary Solutions

NatWest allow capital raising for debt consolidation up to 90% LTV.

Skipton Intermediaries

Skipton require no minimum residency requirement in the UK for returning expatriates. Ideally however the client should have some UK credit history.

Virgin Money

Virgin Money is good with short leases being 30 years remaining at the end of the mortgage term. Other lenders who are good are Nationwide, Santander and the Principality.

Key policy changes this week:

Kensington Mortgages

Kensington now consider the share of net profit after tax plus director remuneration for limited company directors who own 100% share of the business or run a limited company with their spouse on a 50/50 share basis. It is available for clients with only 1 year trading.

Virgin Money

Virgin Money accept up to 5% cash incentives on new-build properties without it impacting on the loan amount. Its new-build offers are now valid for six months and if completion is delayed these can be extended for a further six months subject to the current criteria at the time.