Changes to criteria for portfolio buy to let landlords

From 30 September 2017, new mortgage regulations from the Bank of England (BoE) will become effective. In the industry it is referred to as PRA phase 2.

These new regulations will mean that in many cases landlords with more than three mortgaged buy-to-let properties will have to provide much more information about all their existing rented properties and other assets, liabilities, income and costs.

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the average UK father and protection

  Recently published statistics regarding the level of protection state that the average UK father has, reveals that a fifth say their household would be at risk if they lost their income. More than half (53%) of men in the UK with dependent children have no life cover, research from Scottish Widows suggests. The insurer said this means 3.9 […]

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Change to Insurance Premium Tax

The Government announced earlier in the year that there would be a rise in Insurance Premium Tax with effect the 1st June 2017. Of course this date is almost upon us so all should be aware that the rise will be effective for any policies (new or renewals) with effect the 1st June 2017, IPT […]

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Legal & General claims 2016

Legal & General claims 2016 An email received from Legal & General giving their life & critical illness claim statistics for 2016: In 2016 we paid over £606 million in claim payments to 12,000 of our customers. That’s £64 million more than we paid out in 2015. In fact we’ve paid out £2.6 billion in […]

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The small cost of protection

The small cost of protection Latest research shows…… 51% of families in the UK have no financial protection in place to support them if the worst happened; 72% of female business owners don’t have protection for their businesses; and the number one fear for 28% of women is their inability to support themselves or their […]

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A broker tries to go Direct!

  This pulled from a broker forum, tells the experience a seasoned Mortgage Broker had when trying to deal with a lender through their Direct Channel (i.e. rather than via the intermediary/broker route) for his own remortgage….(not me by the way!) This summer my mortgage rate is up for review. I’ve been a faithful customer […]

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100% lending on treehouses

email received from Hinckley & Rugby for Intermediaries today From: Hinckley & Rugby for Intermediaries Sent: 01 April 2017 09:17 To: advice@sbms-online.co.uk Subject: Hinckley & Rugby branch out into treehouse lending   Hinckley & Rugby branch out into treehouse lending… H&R for Intermediaries is pleased to announce that it is today adding mortgages secured on […]

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PPI deadline (payment protection insurance)

The FCA has set a deadline of 29 August 2019 by which consumers need to make their PPI (payment protection insurance) complaints or lose their right to have them assessed by firms or by the Financial Ombudsman Service. The deadline will not apply where the complaint concerns a rejected claim on a live PPI policy […]

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Article 50 Activation – signed sealed and delivered

As widely trailed, today saw Prime Minister Theresa May announce the activation of Article 50 of the Treaty of the European Union, beginning the process of the UK’s departure from the EU. The letter, delivered to the office of EU Council President Tusk, set out some key aspirations for the UK’s terms of departure, and […]

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