Hinckley & Rugby for Intermediaries has made improvements to its income flex product criteria, providing more flexible lending options for borrowers with non-standard income sources. The changes have been made in response to evolving market conditions, allowing the society to meet customer demand and improve affordability for borrowers with varied income sources. The new improvements to the income flex criteria include the maximum LTV increasing from 75% to 80% for agency workers and zero-hour contractors. For day rate contractors, the minimum income requirement has been removed. However, a minimum contract term of three months is still required.

Hampshire Trust Bank (HTB) has introduced dual representation for bridging cases, expanding its legal panel to introduce HCR law. The move is designed to simplify the legal process for brokers and their clients by allowing one law firm to represent both the lender and borrower. By eliminating the need for multiple legal teams, dual representation creates a more unified process, reducing delays and lowering costs, particularly for clients working to tight deadlines.

M&G has appointed Kirsty Wright as director of PruFund Proposition, as the firm looks to develop its PruFund range of funds. In the newly created role, she will be responsible for developing new propositions within the £62bn multi-asset PruFund range. This was first launched in 2004 and is now invested in over 450,000 customers in the UK, advised by 5,000 advice firms. Wright joins M&G from LV=, where she was head of wealth proposition. Over the last 17 years, she was responsible for the proposition development strategy for its pensions, annuities and investment propositions.

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