Pepper Money has enhanced its affordability criteria for second charge mortgage customers and will now accept up to 100% of bonus, overtime, commission, and foster care income. The second charge lender will be able to consider up to 100% of these incomes, where there is evidence that it is consistent and sustainable. Furthermore, with nearly 70,000 children living within over 53,000 foster families across the UK, Pepper will also accept up to 100% of foster care income on same basis.

Paragon Bank has refreshed its range of two-year buy-to-let (BTL) fixed mortgages, with rates now starting from 3.89%. This rate is for single self-contained properties with A-C EPC ratings, increasing to 3.94% for homes with EPC D or E. This product is available at 70% LTV and comes with a 5% fee. For landlords who would like to finance up to 75% LTV, Paragon is offering two-year fixed products with rates starting at 4.80% and a 3% product fee. A 1.5% fee product is viable available, with rates set at 5.55% for EPC A-C mortgages and 5.60% for EPC D and E. Landlords financing the purchase or remortgaging of HMOs or MUFBS are offered the same suite of products, with rates starting at 4.14% and 5.05% at 70% and 75% LTV respectively.

United Trust Bank (UTB) is now offering free valuations on residential mortgages to members of its UTB premier club. The club was launched in April and a select group of mortgage packagers were invited to access a range of semi-exclusive rates, criteria and features available to brokers using packager’s services for specialist mortgage applications. In June, UTB increased its maximum loan to income criteria to six times on all residential mortgages up to 70% LTV. Now, all residential first charge applications, including purchase, remortgage, first-time buyer and unencumbered, received through premier club members benefit from a free valuation instructed through pure panel management, saving customers £300 on average.

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