JUST MORTGAGES NEWS
Just an update
Friday 1st of May. This week's headlines:
Welcome to our early release edition of Just an Update, with the bank holiday weekend ahead of us!
Whilstmarketconditionsarestillelevated withpricingchanges,therearesome distinctpositivesignsthatinterestratesare startingtosettle,hopefullygivingyouand yourclientssomewelcomerelief.
Wehavesaiditbefore,butyouaredoinga brilliantjobinhandlingthesepressures!
Enjoy the bank holiday weekend!
Supporting Your Clients & Meeting Consumer Duty Standards
We want to share some positive news about how we can work together to provide even better care for your clients while staying ahead of the latest regulatory standards.
Youmayhavere stSupport regardingclient bitofextra help. SincetheF July2023, therehasbeenasignificantshifttowardensuringproactivesupport, andthesenotificationsareagreattooltohelpusmeetthose expectations.
How it Works
OpenworkhavepartneredwithVouchedFor,whosendasurveytoall clientsfollowingcompletion.It’safantasticwaytocheckinand specificallyhighlightsiftheyarelookingformoreinformationon:
Incomeprotection(sickpay)
Criticalillnesscover
Lifeinsurance
Mortgagepaymentprotection
The Importance of Following Up
Whenaclienttellsustheyare"unsure"or"wouldlikemoreinfo,"it’s yourcuetostepin.Reachingouttodiscusstheseneedsandmaking appropriaterecommendationsisn’tjustgreatservice—it’sacore requirementofConsumerDuty.
Itisvitalthatyouactiontheserequestspromptly.Failingtocomply withtheseregulationscarriesseriousrisks,includingFCA intervention,potentialfines,andsignificantreputationaldamageto bothyourpracticeandthenetwork.Bycontactingtheseclientsand notingtheoutcomeofyourcalls,youprotectyourbusinessand ensureyourclientsaren'tleftwithgapsintheirprotection.
New Opportunities
We’vealsoincludedfeedbackregardingPension&Savingsreviews. Thisisabrilliantwaytoaddvalue:
Youcanmanagetheseyourselfandreferthemtoanexternal WealthCompany.
Alternatively,wecanarrangeforaJustWealthAdvisertohelp. Bestofall,anybusinessgeneratedfromthesereferralstoJWwill resultinacommissionpaymentforyou!
Initially,wehavesentabatchofresponsesfromSurveysfrom October2025toFebruary2026togetusuptospeed.Afterthat, you’llreceivetheseupdatesevery4–6weeks.
Wearesureyou’llagreethatthis processisa"win-win"-itprovides aclearpathtocompliance, ensuresyourclientsarefully lookedafterandopensupnew avenuesforincome.
If you have any questions at all, your Area Director is on hand and would be happy to chat.
Mortgage News
Helping more borrowers achieve their property goals
LeedsBuildingSociety hasboostedtheirIncome Plusrange-increasing LTIfrom5.5xto6xand openingituptohomemoversandremortgagers,notjustfirst-time buyers.Withlifechangesandrisingcosts,yourclientsneedmore flexibility.Thisexpansiongivesyoumorewaystohelpthemateach stage.
Supporting buyers in a changing market
Affordabilitypressuresdon’tdisappearafterthefirstpurchase.By enhancingIncomePlus,theSocietyaimstohelpmoreclientsborrow responsiblyandcontinueprogressingontheirhomeownership
Key Criteria
Upto6xLTIavailableforFTB,homemoversandremortgages withaminimumhouseholdincomeof£75k
Upto5.5xLTIavailableforhomemoversandremortgagerswith aminimumhouseholdincomeof£50kandFTBswithaminimum householdincomeof£30k
Upto95%LTVforFTBs
Upto90%LTVforhomemoversandremortgagers(LTVlimits applytoremortgagedependentoncapitalraisingpurpose). Availablefornewbuild(subjecttolimits)andself-employed applicants.
Productsareavailableonfive-yearfixedratedeals.
Find out more IncomePlusanditsbenefits ExploreIncomePlusproducts
Another Helping Hand from Nationwide
We’rehelpingmorehomemoversandfirsttimebuyersintonew buildhomes.Asareminder…
We’veincreasedourLTVs.We’lllendupto: 95%LTVforNewBuild houses85%LTVforNewBuildflats
Togivemorecertaintytoclients,weextendedourofferperiodto9 monthsonNewBuildproperties.
OurspecialistNewBuildsupportteamareonhandtoansweryour preandpostapplicationqueries,toensureeverythingruns smoothly.
New Build and first time buyer lending example
Ifyourclientisafirsttimebuyer,HelpingHandisavailableupto95% LTVacrossour5and10yearfixedratemortgages.Forexample,if yourclientispurchasingaNewBuildpropertypricedattheaverage housepriceof£270,000witha95%LTVmortgage:
Themaximumloanamountis£256,500(95%of£270,000)
Theminimumincomerequiredis£57,000(4.5xtheirincome) WithHelpingHand,theminimumincomerequiredcouldbe reducedto£43,000(6xtheirincome)
Builder incentives
Weacceptbuilderfinancialandnon-financialincentivesonNew Buildapplications,dependingonthepurchasecasetype.
Staying committed to you!
Santanderpromisedthey wouldkeepfindingwaysto makeyourlifeeasierandthey aredelivering!Sayhellototheir 2026pledgestobrokers:
Nodualpricingacrosstheirnewbusinessandproduct transferranges. Minimum24hours’noticeonproductwithdrawals. Continueimprovingproducttransferswithyouinmind.
Newfor2026:Accesstounderwriterswheneveryou needthem.
Wanttoknowmoreabout their2026pledges?Take alookattheirwebsite byclickingbelow:
BM Solutions launch combined PT &
Further Advance Application
WHY IS THIS HAPPENING?
Thisenhancementeffective immediatelywillincreasethe optionsforyourlandlordcustomerswhentheirexistingBM SolutionsBTLandLTBmortgageproductsendaswellas simplifyingandimprovingthesubmissionofapplications.
KEY CHANGES
Landlordswillbeabletoalignthefullmortgageontoafiveyear fixedproduct,whereavailable,whichwillsupportlowerstress rateassessmentsandincreaselendingoptions
Anynewproducttransferproductwilltakeeffectfromthe
All further borrowing application key points:
Abilitytosaveandresumeapplicationsatanytime
Generateillustrationswithouttheneedtocompletea decisioninprincipleorfullapplication.
Amendtermandrepaymenttypesacrossseparatesub accounts,givingmoreflexibilitywhenitcomesto structuringthemortgage
Obtainadecisioninprincipleusingasoftcreditcheck beforefullsubmission.
Theabilitytorefineapplicationdetailspriortofinal submission.
Accessimmediatenextstepsanddocumentuploadfor quickerprocessing.
Applicationsthatrequireasolicitor,e.g.existingsecond chargeontheproperty,areexcludedfromthenew
Protection & GI News
Changes to Paymentshield
Rent Protection
WithTheRentersRightsActduetocomeintoforceon1May2026, wewantedtoletyouknowthatwe’recurrentlyupdatingthepolicy documentationrelatingtoouroptionalRentProtection,available aspartofourLandlord’sInsuranceproposition.Thesechangeswill reflectthelatestlegalchangesandterminologybeingintroduced butwewanttoreassureyouthepolicytermsareunaffectedby TheAct.
We’realsoexcitedtosharewithyouthatthesechangeswillform partofabroaderinitiativetoprovideabrand‑newstandaloneRent Protectionproduct,designedtoreflectthechangingrental landscape.We’reexpectingtobeabletorolloutthisnewproduct asanenhancedoptionforlandlordsfromJuly2026onwardsand willsharemoredetailsoncethisnewofferingisclosertolaunch.
Whileweworkonthedevelopmentofthisnewproduct,itmeans theupdatestotheexistingpolicydocumentationwordingforour optionalRentProtection,forexampletoremovementionof assuredshortholdtenancies(ASTs),won’tberolledoutbeforethe 1May2026whentherentersrightsreformscomeintoeffect. However,restassured,asthecorepolicytermsremainunaffected, theunderwriter,Arc,willcontinuetofullysupportandhonour claimsforbothexistingpoliciesandanynewbusinesssaleswith thecurrentpolicywording.
Furthermore,whilethedocumentationisbeingupdated,we’ve addedmessagingwithintheAdviserHubquoteandapplyjourney, tohelpadvisersexplainthecurrentsituationtotheirnewbusiness clients.We’realsoproactivelywritingtoexistingcustomersto reassurethemthat:
Theircoverremainsfullyvalid
Claimscanbemadeexactlyasnormal
Theirpolicydocumentationwillremain unchangeduntiltheirnextrenewal followingthelaunchofthe newproduct We’llcontinuetokeepyou informedasfurtherupdates becomeavailablehoweverif youhaveanyfurtherquestions, pleasecontactyour AccountManager.
Industry News
Thisweeksawaclearshifttowardpricing competitionandproductre-expansion,with lendersactivelyadjustingbothratesandcriteria asmarketconditionsstabilisefurther.
Anumberofhighstreetlendersreducedfixedratesacrosscore ranges,particularlywithinthetwo-andfive-yearsectors,drivenby relativelystableswaprates.Thishasledtoagradualreturnofsub-5% productsatlowerLTVs,alongsideimprovedproductdepthacross 60–75%bands.Therepricingactivitysignalsrenewedlender confidenceandadesiretoregainmarketsharefollowingMarch’s volatility.
Alongsideratereductions,lenderscontinuedtofine-tune affordabilityandborrowingcriteria.Severalinstitutionsincreased maximumloan-to-incomecaps(approaching5xforstrongerprofiles) andenhancedthetreatmentofvariableincome,includingbonuses andcommission,improvingoutcomesforself-employedand complex-incomeclients.Thisisparticularlyrelevantgivenongoing affordabilitypressuresandhigherbaselineratescomparedtohistoric norms.
Regulatoryexpectationsremainconsistent,withtheFinancial ConductAuthoritycontinuingtoemphasiseConsumerDuty compliance,particularlyaroundfairvalueandsuitabilityinamore competitivebutstillelevatedrateenvironment.