Scottish Widows Bank has enhanced the income multipliers on its graduate mortgage product. The increased multiplier will be available to graduates who need to borrow more than the bank’s standard multipliers. Scottish Widows will assess each borrower’s individual financial circumstances, and where affordability can be demonstrated, enhanced income multiples may now be offered.
KGB announces on-site underwriters
KGB Packaging has announced on-site underwriting facilities provided by SPML and Freedom Lending.
Rachel Bancroft, managing director of KGB, said “The ability to offer on-site underwriting facilities will be a key element in successful mortgage distribution in future, so we are very pleased to add SPML and Freedom underwriters to our team of on-site lender facilities.
Variable rates grow in
popularity
Mortgages Direct has revealed a 4 per cent rise in the number of people who opted for variable mortgages for July.
Research revealed 30 per cent of borrowers opted for a variable rate, compared to 26 per cent in June. Mortgages Direct claimed the uncertainty of the Monetary policy Committees’ decision over Base Rates was a factor for an increase in variable mortgage enquiries.
