The new criteria options have been added over recent weeks, based off research done by the firm and feedback from the intermediary community. All new criteria are now live following collaboration with lenders and are available for broker use.
The new criteria include:
● Employment: CIS contractor assessment
● Maximum number of stories where no lift is present
● New build(s) purchased off-plan considered
● Property ownership: splitting of a title deed on completion
● Sole application joint proprietor
● Property construction: tower block with cladding
● Applicants on furlough
Sharon Marshall, intermediary sales director at Mortgage Brain:
“It’s been a tumultuous time for the mortgage market of late, with lenders and brokers alike having to rapidly adapt to the challenges presented by Covid-19. But even outside of the pandemic brokers are faced with an ever-changing and complex criteria landscape, which is why Criteria Hub is such an important innovation, making it far easier for advisers to understand lenders’ policy and identify the right products for their clients.”
