News in brief - 12 February 2024

Loughborough Building Society has introduced a self-employed criteria enhancement, which will allow the society to accept one year’s worth of accounts for sole-traders, partnerships and directors of limited companies. The facility will be available on loans up to 80% LTV across Loughborough’s residential product range for purchase or remortgage purposes on the applicants main residence. The criteria enhancement is available to applicants who have previously been employed in the same line of work as their new business and is also available for newly qualified professionals with one year’s worth of accounts. The two-year projection may be considered on referral where the business has been trading for a minimum of 18 months.

Truffle Specialist Finance has announced that 2023 was a record year for its bridging finance operation. The firm rebranded from Pink Pig Loans in March 2022, while Luke Egan was appointed as bridging and development director in 2023 as Truffle looked to increase its presence in the bridging loan market. Its strategy has proved to be a success, with the firm reporting an almost 200% increase in the amount of bridging business written and number of completed cases.

The Right DA Club has announced its online webinar programme for 2024. The first two sessions, taking place at 10am on 21 February and 22 May respectively, will look at how firms can maximise their protection potential in 2024. In February, guests include Carl Heard from LV= and John Reville from UnderwriteMe, who will be showing how, and when, advisers can position protection in conversation with clients, how to utilise risk calculators, and how to take advantage of technology, resources and other key compliance considerations. In May, Gregor Sked from Royal London will be joining the session to discuss the complexity of protection products, show how to access the market and where to find the client base, look at the different types of business protection, and show who are the providers in this space.

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