LendInvest Mortgages has announced several new changes to its residential lending criteria. The lender said it would no longer consider missed payments or defaults on communication and utilities as adverse credit. For more complex employment structures, the lender will also now accept 100% of base pay for zero-hour contracts with a 12-month history, and LendInvest will also now allow the sale of mortgaged property with a minimum £250,000 equity as a repayment vehicle for interest-only loans.
Vida Homeloans has launched a new range of high loan-to-value (LTV) residential mortgages, named Pathway. The products are designed to help more customers, particularly first-time buyers, onto the property ladder. Vida confirmed its Pathway range would offer products at 90%, 95% and 97% LTV, available with two or five-year fixed rates.
Nottingham Building Society has announced new rate cuts across its standard residential mortgage products for new lending, with rates now starting from 4.38%. The society said its latest pricing changes build on a series of recent enhancements designed to make mortgage lending more practical and accessible.
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