Fleet Mortgages has unveiled several changes to its lending criteria to offer more flexibility to advisers and landlord borrowers.
Among the updates, Fleet will now accept transfer of whole of registered title forms (TR1), allowing loans to proceed without updating the Land Registry until completion, simplifying day one remortgage applications.
The lender will also consider County Court Judgments (CCJs) up to £500 satisfied in the past three years alongside unsatisfied CCJs up to £250 over the same period.
This adjustment aims to include credit-worthy borrowers who might be in disputes, such as over parking tickets.
Furthermore, the minimum floor area requirement has been reduced from 35 square metres to 30 square metres following broker feedback.
Steve Cox (pictured), chief commercial officer at Fleet Mortgages, said: “As always, we keep a close eye on our existing criteria, and take on board the range of feedback we always gratefully receive via advisers.
“In this regard we’ve been able to announce a number of criteria changes, plus we also have others in the pipeline which we’ll be able to reveal very soon.”
Cox added: “These latest changes provide a greater degree of flexibility, a common-sense approach to CCJs, plus we want to be able to support those clients who are looking to remortgage on Day One.
“If advisers are seeking clarification on these, or any other part of the Fleet proposition, they shouldn’t hesitate to contact their local BDM or any member of the telephone team.”
