Hope Capital Property Finance raised the loan, dual legal representation, instant valuation, and no-upfront-legal-undertaking thresholds on its Dual+ residential bridging product to £1 million from £500,000, extended eligibility to Scotland alongside England and Wales, and added instant valuations at enquiry stage, with the product available at 75% LTV from 0.82% on terms of three to 12 months.
Keystone Property Finance cut rates by 10bps across nearly its entire product range, with new starting rates of 3.39% for standard buy-to-let, 4.99% for expat, and 5.69% for holiday let products at 65% LTV.
Leek Building Society introduced eight broker-facing criteria enhancements to its residential and specialist mortgage range, widening income recognition to include Child Benefit, Pension Credit, Carer’s Allowance and Disability Living Allowance in full, raising the maximum age for earned income at mortgage term end to 75, extending eligibility to contractors on six-to-12-month contracts with a two-year industry track record, and easing leasehold requirements by reducing the minimum remaining lease term from 75 to 50 years.
London Credit dropped rates across its mainstream property development finance range by 100bps and launched a new Prime Development product, with rates starting at 9.50% per annum at 65% loan-to-gross-development-value and 10.00% per annum at 70% LTGDV.
Nationwide cut fixed mortgage rates by up to 19bps across its two-, three- and five-year products for first-time buyers, home movers and remortgage customers, with its lowest rate falling to 4.52% on a two-year fix at 60% LTV with a £1,499 fee; remortgage reductions reached up to 13bps, with a five-year fix at 75% LTV with a £999 fee now priced at 4.81%.