Archive: Tue Nov 2016

Magellan Homeloans partners with Next Intelligence

Magellan Homeloans, the specialist mortgage lender, has been added to the Next Intelligence mortgage club lending panel.

This new partnership will enable Directly Authorised members of Next Intelligence to access Magellan’s full range of specialist mortgage products which provide greater solutions for those unable to secure a mortgage from high street lenders.

(Simon Read, Managing Director or Jason Neale, Sales Director), at Magellan Homeloans said: “We are delighted to be teaming up with Next Intelligence in order to bring our unique range of specialist lending products starting with rates from 3.21% to their Directly Authorised members.

Our business development team are really looking forward to working with the Next Intelligence team and DA firms to help increase their incremental income by demonstrating how to turn their declines into completions as well as helping members take advantage of the huge opportunities available in the specialist lending sector.”

Sally Laker, managing director said: “Since launching Magellan Homeloans to our Appointed Representatives last year, advisers have increasingly looked to their specialist mortgage products to help clients that have been unable to secure mortgage finance elsewhere.

“For this reason we are delighted to be the first mortgage club to be extending Magellan’s lending proposition to the Directly Authorised market.”

Mortgage intermediaries can obtain further information at: www.magellanhomeloans.co.uk

**ends**

About Mortgage Intelligence Holdings: Mortgage Intelligence Holdings was acquired by Countrywide in April 2011, the UK’s largest mortgage broker and property services Group. The following brands operate under Mortgage Intelligence Holdings.

Mortgage Intelligence and Mortgage Next: Established in 1996, Mortgage Intelligence, which merged with Mortgage Next in 2009, has become one of the UK’s leading mortgage networks. They offer award winning mortgage and insurance services to over 400 appointed representatives. Both networks focus on high quality of service and support offered to their intermediaries.

FYB Network: Mortgage Intelligence Holdings acquired Life and Easy trading as FYB Network in September 2012. FYB’s brand joined Mortgage Intelligence and Mortgage Next brands under the umbrella of Mortgage Intelligence Holdings Ltd. They offer both mortgages and insurance services. They were originally founded in 2004 and became a fully authorised network in May 2007.

Next Intelligence: Next Intelligence launched as a new brand in April 2011, bringing together Mortgage Intelligence and Mortgage Next’s directly authorised clubs which were both established in 1996. They offer premium brokers services to over 3500 mortgage intermediaries including mortgages, general insurance and a new protection panel which was launched in September 2011.

For media queries, please contact Countrywide Press office, +44(0)7721 439043


Mortgage Intelligence Insight: What to keep your eye on in 2017

By Stephanie Charman, Head of Mortgages and Insurance at Mortgage Intelligence

Looking ahead to the mortgage market in 2017, we have compiled a short list of key changes and events to keep your eye on. This will help keep you and your clients ahead of the game in 2017.

January 2017: Help to Buy 2 no more!

Now that the government has confirmed it will end the Help to Buy: Mortgage Guarantee Scheme, or Help to Buy 2, at the end of 2016, many are wondering what the future holds for the first-time buyer market after the scheme has helped so many people onto the property ladder.

Whether the market is ready for life without Help to Buy 2 is not fully clear, even though a growing number of lenders now have, or will have 95% products available outside of the Help to Buy scheme.

The 2017 autumn statement may indeed look to address the risk to the high LTV market, perhaps with the addition or alteration of housing schemes. Either way, the support of the low deposit arena is crucial, with the current affordability issues facing first-time buyers in the UK.

March 2017: Budget Speech

One of the most important events in the industry calendar will be Chancellor Philip Hammond’s annual Budget speech. After a turbulent few months post-BREXIT some experts are preparing themselves for more changes as the government tackles the possible consequences of leaving the EU.

April 2017: Tax relief changes for Buy to Let

The tax relief that landlords of residential properties get for finance costs will be restricted to 20%, which will be gradually introduced from April 2017 and will be fully in place by 6 April 2020.

These changes could have implications for landlords’ tax positions, but a basic rate tax payer may not see an impact. However, buy-to-let property rental income could now affect the overall tax position, which is the unintended consequence of moving from being a basic rate taxpayer to a higher rate taxpayer.

Limited companies, set up for the sole purpose of buying and letting property, will not be affected by the changes. Therefore some landlords are considering setting up companies to mitigate the personal impact of the tax relief changes.

April 2017: Lifetime ISA

The new Lifetime ISA will launch in April 2017 and allow people to save up to £4000 a year towards buying their first property or for retirement with a 25% government bonus.

Many people may be more sensitive to the details after some people felt slightly misled by information regarding the original Help to Buy ISA and deposits on property. It is currently unclear how many accounts will be available in April 2017, as lenders are unable to commit to firm launch dates due to delays on account details from the government.

November 2017: Autumn Statement

Chancellors have been required to present two economic updates a year since 1976. Yet, there are reports that the autumn statement may be scaled back or even scraped in the future. Chancellor Philip Hammond wants to move away from ‘gimmicks’ and focus on fiscal forecasting. But some suggest this may be an impossible task with the uncertainty of BREXIT.

If you would like to know more about how to join our award-winning Mortgage Network as an appointed representative or becoming a member of our Mortgage Club, call our Broker Support Team on 0845 130 7446, option 1.