View more on these topics

Close is first with instant BTL offers

Close Mortgages has become the first lender to launch instant offers on buy-to-let properties.

It will offer the facility to remortgaging customers initially as the technology is not yet available on BTL property purchases.

It is using automated valuation model specialist Hometrack to value the property and will use the assured shorthold tenancy agreement which should already be in place to prove rental income.

When Hometrack has developed the technology to value rental income as well as bricks and mortar, Close will provide instant offers on all BTL property purchases.

Close Mortgages chairman Bob Golden says: “There is no problem on remortgage BTL cases as the issue is proof of income which is already there. No one is doing this on BTL and we are the first to have it.”

Meanwhile, Edeus has hit back after claims from packagers that some customers are shying away from Edeus’s instant offers because it charges £899, and many would rather wait the extra week.

Packager group Ramp’s managing director John Rice says: “Many sub-prime customers are saying that they would rather wait a week than pay the £900.”

Edeus managing director Alan Cleary says the fee includes the normal valuation and legal fees and that the actual premium is £150. He adds: “John Rice is being mischievous as you can say that about anything when you take it to the extreme.”

Recommended

Milton is picked as Devon candidate

High-profile IFA Philip J Milton has been selected as the Conservative candidate for North Devon in the general election.He will look to overturn Liberal Democrat MP Nick Harvey’s 5,000 majority and win back the seat the Tories lost to the LibDems in 1992.Besides running his IFA business, Philip J Milton, he also owns a Christian […]

Put trust first

Should you trust your pension to a politician?

ABI and Compass launch guide to HIV questions

Specialist gay IFA Compass has co-produced a consumer guide with the Association of British Insurers on gay life insurance to explain the effects of the ABI guidelines on HIV and Insurance.The ABI guidelines were introduced in October 2005 when insurance companies were banned from asking for applicants’ sexual orientation on application forms for life insurance.The […]

New deal changes at Nationwide

Nationwide says it will continue running its “new customers only” ads despite ending its policy of offering the same deals to new and existing borrowers.It is changing its range from December 1 so rates on remortgaging, deal switching and further advances are higher than those for home purchase a move which was first revealed on […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com