One Mortgage System (OMS) has appointed Esther Morley has a non-executive director (NED). She will take over 30 years of financial services experience to the role, having worked across the banking, building society and specialist lending sectors. Morley began her career at HSBC & HFC, leading analytics teams covering credit risk, marketing and product and pricing development, before moving to Kensington Mortgages in 2006. She then joined Secure Trust Bank as managing director of mortgages in 2016, before joining LendInvest in 2021, where she most recently served as chief operating officer at ColCap UK. Morley has also established her own consultancy providing strategic solutions to banks, lenders and other financial institutions relating to their mortgage business, with her first NED role being as chair of risk at the Beverly Building Society.

Mansfield Building Society has increased the maximum LTV on its credit repair range from 70% to 75%. The credit repair products are aimed at borrowers with adverse credit characteristics, including defaults from three months, active IVAs and debt management plans from six months, active CCJs from 12 months and discharged bankrupts from day one. Furthermore, it includes missed payments up to status five in the last 12 months on credit cards, phone plans and utilities. The Mansfield said that by extending its maximum LTV, it can provide more opportunities for brokers and the clients.

Darlington Building Society has completed a UK residential mortgage for an expat couple based in Saudi Arabia, secured at 51% LTV on a rate of 4.69%. The applicants, both UK citizens with dependents, are currently living and working overseas. The case involved a number of factors that required careful consideration, including foreign income that is not subject to UK tax, a contractor income structure, and a historic default alongside a missed payment from over three years ago. The case required an understanding of both the applicants’ current circumstances and their plans to return to the UK, with the mortgage structured to support the purchase of a long-term family home.

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