Bank of Ireland Mortgages has made a number of lending criteria enhancements across its range, with improvements to buy-to-let, standard and self-certification mortgages.
Rental income cover has been reduced to 100 per cent of pay rate on fixed rate products of three years or more, while the portfolio limit has been increased from £1.5m to £2.5m, up to a maximum of 15 properties. The maximum individual loan amount has also been increased from £400k to £500k at the product maximum of 85 per cent loan-to-value.
Pink launches directory
Pink Home Loans has launched an online proc fee directory.
The tool lists all of the lenders on Pink’s lender panels, along with the relevant proc fee information. It also lists the products where fees will be paid within 24 hours, which ones will be paid directly into the intermediary’s bank account, and whether or not a Pink application form is acceptable to the lender.
Paymentshield reveals GI waiting times
Paymentshield has revealed brokers still experience unacceptably long delays on the phone when dealing with general insurance (GI) providers.
The study showed 57 per cent routinely wait over four minutes to speak to a provider, while 14 per cent generally have to wait more than seven minutes.
