SPML has announced a new, three-year fixed rate option across all of its product ranges: Prime, Light Adverse and non-conforming.
In the Prime and Prime plus product ranges, the fixed rates are from 5.65 per cent on the Prime schemes, 5.75 per cent on the Prime buy-to-let schemes and 5.60 per cent on the Prime plus deals.
Chelsea reviews BTL policy
Chelsea Building Society has reviewed its buy-to-let lending policy. As of 26 April it has increased the LTV to 85 per cent for all of its buy-to-let products and has extended the end dates of the fixed rates.
The society’s current range of buy-to-let products include two and three-year fixed rate mortgages along with a two-year fees-assisted buy-to-let mortgage.
Lighthouse looks to recruit
Lighthouse Group plc, a firm of independent financial advisers, is launching a major recruitment drive for quality advisers.
The campaign will be kicking off at Lighthouse’s Annual Conference on 16 and 17 May in Stratford-on-Avon. Lighthouse’s expansion plans come off the back of recent strong profits.
Preferred announces securitisation
Preferred has announced the completion of its ninth securitisation. The deal, Preferred’s first this year, is worth £400 million. Preferred Residential Securities 05-1 (PRS 05-1) was structured in euros and sterling and was in high demand – with all the classes being oversubscribed.
This is the first securitisation to be announced under Preferred’s new naming format; previous deals were labelled PRS-1 through PRS-8.
