2 Lenders Change their Products
Yipee! It’s Friday. Time to relax, drink a few firkins, cook a fry up and ponder what life will bring next week.
On the news front, I notice two key players have changed their product offerings.
Firstly DB Mortgages, part of the Deutsche Bank Group, have decided to ignore defaults across all product categories, opening up the criteria to more applicants in the Near Prime and to super light categories, an increase from £150 worth of CCJs to £500 for near prime.
Satisfied CCJs are now disregarded over 6 months old rather than 12 months for near prime to super light. All missed payments on secured loans in the same calendar month are treated as one missed payment, while there is a reduction in Bankruptcy and Individual Voluntary Arrangements requirements (IVAs) across all product categories. This all adds up to further signs that DB Mortgages are striving to become the key lender in the Sub Prime Market.
Another lender to change its offerings is the secured loans specialist Blemain. It’s introduced a new mortgage and secured loan shared ownership plan, with up to 60% of the clients share for a secured loan.
It’s also enhanced its valuation bypass scheme with increased LTVs and maximum loan amounts and says more cases can be funded without a valuation, improving conversion, speed of completion and saving costs.
It also says it now accepts Experian as well as Equifax searches.
