Blemain stated that it had no plans to withdraw from the sector, adding that it is “committed to providing competitive products and support to brokers, despite the recent turmoil in the capital market.”
A number of immediate changes have been made to Blemain’s product plans. These are as follows:
- A 1% rate increase on all term loan and mortgage plans. 0.1% on Bridging Finance
- Maximum LTVs reduced to 75% LTV for Blemain Finance, 70% LTV for Lancashire Mortgage Corporation. Cheshire Mortgage Corporation remains unchanged at 75%.
- Unlimited adverse
- Any property type (including both standard and non-standard construction)
- All income sources accepted
- No maximum loan
- 2% discount rate for 1 year on all unregulated term loans and mortgages
- Interest only for the full term including commercial mortgages and loans
- 3-month payment holiday
