• Rachael Panteney

Mortgage Underwriting Update

Keeping up with the constant changes in mortgage underwriting this year has been tricky - at one point in a single 48 hour period there were over 500 criteria changes across the market!

In the last couple of weeks we have seen lenders introducing more restrictions, particularly around Furlough and the Self Employed Support Scheme.

If you are currently still on Furlough, the pool of lenders available to you is shrinking. Many lenders now will not lend unless you have been back at work for a full month and can evidence this.

If you have applied for, or received the SEISS Grant from 14th July onwards, again some lenders are unwilling to lend. This is because when applying for the Grant, you tick to say your business has been impacted by Covid-19.

If your business has been affected, then lenders will not want to risk lending to you until you can show your business is back to pre-covid levels.

If you are a Sole Trader, or in a Partnership and have taken either of the last two Grants, please speak to us about your options.

These changes affect remortgages as well as purchases. So if you have a rate due to expire in the next few months get in touch with us ASAP.

Now more than ever it makes sense to use a broker - we can cut through the confusion to find a lender who will fit your current circumstances.

For more in depth information, please contact us or call Rachael on 01323 436680 and book a FREE initial consultation today.

*Your home may be repossessed if you do not keep up repayments on your mortgage.

Willow Tree Financial Services.

A6 Chaucer Business Park,

Dittons Road, Polegate.

East Sussex, UK.

BN26 6QH

01323 436680


The value of pensions and investments and the income they produce can fall as well as rise. You may get back less than you invested. Your home may be repossessed if you do not keep up repayments on your mortgage. 

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Willow Tree Financial Services is a trading style of Rachael Panteney, an appointed representative of Quilter Financial Services Limited and Quilter Mortgage Planning Limited, which are authorised and regulated by the Financial Conduct Authority.

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