Criteria Hub will now also allow users to search for criteria such as ‘property construction of tower blocks with cladding’ and ‘sole application joint proprietor’ which are emerging more frequently as factors influencing borrower requirements.
The new wide range of criteria have been uploaded over recent weeks and have now gone live, after lenders supplied the relevant information required to enable brokers to start using them.
The new criteria include:
- Employment: CIS contractor assessment
- Maximum number of stories where no lift is present
- New build(s) purchased off-plan considered
- Property ownership: splitting of a title deed on completion
- Sole application joint proprietor
- Property construction: tower block with cladding
- Applicants on furlough
Sharon Marshall, intermediary sales director at Mortgage Brain: “It’s been a tumultuous time for the mortgage market of late, with lenders and brokers alike having to rapidly adapt to the challenges presented by Covid-19.
“But even outside of the pandemic brokers are faced with an ever-changing and complex criteria landscape, which is why Criteria Hub is such an important innovation, making it far easier for advisers to understand lenders’ policy and identify the right products for their clients.”
“It’s crucial for us to respond to how the market is changing which is why it’s so vital that we continue to expand the number of criteria on the platform. We would like to pay tribute to advisers for their amazing support, and to lenders who have recognised our mission and embraced it.”
