Temporary withdrawal of Buy-to-Let Finance and changes to Home Purchase Plan products
Over the last two weeks, we have seen an unprecedented level of demand for our Home Finance products. In light of this, we have taken the decision to temporarily close for all new Buy-to-Let finance applications from today (Thursday, 6th May).
In addition, following a review of our Home Purchase Plan products, we will be making changes to our offering. These changes are:
- Increasing rental rates across all HPP products (by up to 0.40%)
- Increasing the minimum finance amount on HPP products to £200,000 (previously £100,000)
Whilst we understand that this will cause some inconvenience for you and your customers, we believe that these changes are the right thing to do, in order to protect the service levels we are able to provide.
Any existing applications that you wish to progress, must proceed to a fully packaged application, including the customer's signature, and be received via our online application system by 11.59pm tonight.
We will continue to manage all existing cases as quickly as possible and your BDM remains available to assist you and discuss any queries regarding the changes outlined above.
We apologise for any inconvenience caused and thank for your continued support.