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CRYSTAL UPDATE

Precise Mortgages - £800k loan on £3.5m property. 73 Year old self-employed architect. Employed by his own Limited Company, they needed a combination of salary, dividends and retained profits to get the loan amount agreed. The lender structured the deal to get the right loan amount 2 Year Fixed at 3.49% was agreed with the customer.

Crystal Completion of the Week:
MT Finance - £1.4m Foreign National Bridge to pay off highly geared Development Finance secured on another site. Needed to complete before months-end. Sales on the original site were slow on account of Brexit headwinds and Covid-19.

Crystal Back Office Hero:
West One Loans - Buy to Let - Excellent products for BTL from West One are proving very popular.

KNOWLEDGE BANK - CRITERIA HIGHLIGHTS

• 207 criteria changes last week (down from 276 the previous week) so things seem to be quieting down, is this the calm before the storm?

• Scotland and Wales relaxing lockdown restrictions meant lenders started

  communicating about physical valuations in these areas

• A few more LTV increases from smaller building societies

• Specialist lenders notably quiet, for now...

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