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Capital Homeloans further tightens lending criteria

Capital Homeloans has made further criteria changes to its mortgage range in effect from October 26.

In buy-to-let, CHL Mortgages will lend 90 per cent loan to value with a maximum lend £500k per property and 85 per cent LTV on a maximum lend of £1m per property.

On self cert home loans, the lender will lend 90 per cent LTV of £500k property value, with maximum lend £450k and 85 per cent LTV of £588,235 property value, with maximum lend of £500k.

On new build developments, CHL Mortgages now has a maximum LTV of 85 per cent and it says that valuations are only to be carried out by Countrywide.

CHL Mortgages says it will limit its total exposure on a new build development to 10 properties or 20 per cnet, whichever is higher.

The deadline date for submitting all applications on the old criteria & withdrawn product code will be October 30.

In addition, Mortgage Express is set to make increases to all of its fixed and some of its variable rates on all its products except Standard and Lifetime with effect on October 18.


Resolution rejects yet another Pearl bid

Pearl has made another approach to Resolution with a cash offer of 691 pence per share but has been knocked back again.On October 10, Pearl Group announced the terms of a possible cash offer for Resolution at 660 pence in cash for each share which was later rejected by Resolution.Today, Pearl has announced a cash […]

Lancaster joins Gulf

Norwich Union UK income opportunities manager Ian Lancaster has quit to join Bahrain-based Gulf Finance House Asset Management.Lancaster, who brought the fund to Norwich Union with him from Moneyguru in May 2006, will join forces with former Skandia chief investment officer Alan Durrant and take on the role of international equities director.He will help oversee […]

Capita signs £270m deal with CIS

Capita has been assigned to deliver business processing services to Co-operative Insurance, part of Co-operative Financial Services today in a 10 year deal worth over £270m. Capita will provide customer services, policy administration, new business, claims activities and the associated technology for around 4.5m policies across CIS’s life and pensions and unit trust operations. Capita […]


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