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Our priorities remain focused on providing high standards of service plus the very latest product information to our broker partners. I truly hope this equips our supporters to deliver excellent financial solutions to their customers during these extraordinary times.
For clarity, Crystal Specialist Finance continues to offer:
- Access to a specialist mortgage helpdesk working across Bridging, Commercial, Second Charges, Development, Buy to Let and Residential sectors.
- The helpdesk can be contacted on the usual telephone number: 01827 301070 or this email address: uw@crystalsf.com
- If you have any information or communications that you want to send us then please also use the above email address, as all the Crystal SF team have access.
- If the content is of a more sensitive nature then feel free to send to: Head of new business - Toby Breeden - t.breeden@crystalsf.com or myself.
Additionally, the opportunity to book a video call with any of our team is now available. This
service can be used to discuss a case or simply learn more about a particular area of
specialist finance. You can book a call easily by clicking here.
I understand that there is a lot of noise currently about what types of business can’t be
written and I feel this isn’t particularly helpful to brokers or their customers. Therefore, I
wish to focus solely on what types of finance and customers can be accepted, plus what we
can do to help ensure completion can occur.
written and I feel this isn’t particularly helpful to brokers or their customers. Therefore, I
wish to focus solely on what types of finance and customers can be accepted, plus what we
can do to help ensure completion can occur.
Bridging
- Some lenders are considering existing valuations from within the last three months alongside an audit from one of their panel valuers.
- Other lenders can consider drive-by valuations supported by an AVM
- LTVs are available up to 75%, but this is capped at 65% if no physical valuation is to hand or 50% LTV if only an AVM is available
- Refurbishments from Heavy to Light are allowed
- Bridge to BTL is still available
Buy to Let
- As a rule, 75% LTV is available across all areas of Buy to Let (individual, limited company, HMO, Holiday Lets, ex-pats, foreign nationals and MUFBs) but may have to be put on hold until a physical valuation can be carried out
- HMOs up to a maximum of eight rooms remain acceptable
- Desktop Valuations and AVMs may be accepted by some lenders up to 60% LTV
- First Time Landlords continue to be accepted
Commercial
- Up to 65% still accepted with full valuation to follow. With 75% available subject to credit committee review.
- Drive-by considered up to 50% LTV
- First Time Landlords / Adverse Credit Considered
Second Charges
- As a rule, 75% LTV is available across the lenders currently, with some restrictions placed against self-employed and other employed job sectors
- Desktop Valuations and AVMs may be accepted by some lenders individual criteria
Development
- Development Finance
- Lenders are considering schemes now – lining them up ready for more certainty on valuations and material supplies
- 65% LTGDV is the maximum considered at this moment
- Experience the key driver at present
- There are still lenders who will consider development finance proposals and future projects and Crystal SF is working with a number of them on pipeline cases
Residential
- Specialist residential is available up to 75% LTV for employed and 65% for self-employed
I am sure you will appreciate that all of the above is subject to change at a moment's notice.
To keep abreast of this ever-changing market, we have created the Crystal Specialist
Finance Coronavirus Business HUB which includes the latest information on not only lender
changes, but also the Business Interruption Scheme, Payment Holidays and much more.
Click here to view.
To keep abreast of this ever-changing market, we have created the Crystal Specialist
Finance Coronavirus Business HUB which includes the latest information on not only lender
changes, but also the Business Interruption Scheme, Payment Holidays and much more.
Click here to view.
In addition to our lender partners, our other supplier relationships enable us to progress
pipeline cases using:
- Hometrack/AVM valuations
- Desktop Valuations & Audit
- Skype / Teleconferencing Solicitor Witnessing
- Electronic ID and Verification
- Electronic Signature
In summary, Crystal Specialist Finance is very much open for business, although it’s safe to
say it’s ‘Business as Unusual’.
The majority of our lender partners are providing daily updates and it is encouraging to
observe that most are trying to find innovative ways to lend during this crisis. Of course, it is
impossible to predict the future but we do expect more lenders to return to lending once
Payment Holiday requests have been managed with their existing borrowers.
observe that most are trying to find innovative ways to lend during this crisis. Of course, it is
impossible to predict the future but we do expect more lenders to return to lending once
Payment Holiday requests have been managed with their existing borrowers.
Crystal is #HeretoHelp
Speak to our award-winning team
01827 301 070
or visit our website
