Leadbay lowers LTVs

The adjustments have been made to give brokers the best chance of converting the lead in today's changing marketplace.

Purchase and remortgage leads will remain at 100 per cent LTV while the maximum amounts on all other lead types have been reduced as follows:

• First-time buyers lowered from 110 per cent to 100 per cent
• Self-cert remortgage lowered from 95per cent to 90per cent
• Self-cert purchase lowered from 95per cent to 90 per cent
• Buy-to-let lowered from 95 per cent to 90 per cent
• Adverse credit remortgage lowered from 95 per cent to 85 per cent
• Adverse credit purchase lowered from 95 per cent to 85 per cent

Simon Baker, Leadbay’s commercial manager said: “As lenders increasingly tighten their criteria it can become almost impossible for an adviser to place business if they have bought a lead and the borrower is asking for an unrealistic loan to value.

“Lower LTVs will give advisers a much greater chance to place the business and make money off the leads they have bought."

Further to this, if the lead is a hoax or the borrower is uncontactable, Leadbay will refund the amount that the adviser has paid.