You are here: Home - Specialist Lending - Complex Buy To Let -

Complex Buy To Let

TSLE2020: Lower ICR products needed to serve pent up purchase demand

by:
  • 06/02/2020
  • •
  • 0
TSLE2020: Lower ICR products needed to serve pent up purchase demand
Lenders who are not regulated by the Prudential Regulation Authority should consider launching products with lower interest cover ratios (ICR) to accommodate purchases, a specialist lender has said.

 

Speaking at The Specialist Lending Event in Birmingham, Jonathan Samuels (pictured), founder and CEO of Octane Capital, said purchases needed “high leverage” and this could be provided with low ICR products. 

Samuels said product innovation needed to be “borrower-led” and predicted 2020 would bring a shift in purchase activity due to “political stability” and “pent up demand”. 

 

 

He also said the specialist sector was competitive, so for lenders to maintain market share they needed to look at the needs of borrowers. 

Samuels said: “You just can’t stand still at all. You’ve got to constantly looking for solutions for borrowers who fall outside of mainstream. 

“We’ve got to look at expanding our criteria safely.” 

 

Related Posts

Share This Article
Tags

Shekina is the commercial editor at Mortgage Solutions. She has over four years' experience in the B2B publishing market, with previous industries including the accounting, pet, funeral, hospitality, retail and jewellery trades. She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content. Follow her on Twitter at @ShekinaMS

There are 0 Comment(s)

You may also be interested in

Email Newsletter

Sign up for our newsletter

  • Useful Links:
  • Follow Us
© AE3 Media Ltd, Floor 7, Lincoln House, 296 - 302 High Holborn, London WC1V 7JH, Company registration number 8938488.
AE3 Media Limited is authorised and regulated by the Financial Conduct Authority
The principal business of AE3 Media is journalism. As our website contains links through to firms which provide consumer credit we have limited permission to undertake credit broking activities and for these limited activities only AE3 Media Limited is authorised and regulated by the Financial Conduct Authority
We take reasonable care to correct errors or omissions on our site as soon as we can after we are made aware of them. However, we do not guarantee that all information is accurate and free of errors and omissions at all times and we do not accept any responsibility or liability for any loss you may suffer as a result of information on this site not being accurate at all times.
We do not recommend or accept any responsibility for any third party provider’s products, services, information, advice or opinions provided to you either directly or via their websites. We will not be responsible to you if any product or advice you obtain form a third party is not suitable for you or does not meet your requirements. Any links to a third party provider’s website on this site are for your convenience only. If you contact a third party provider advertised or mentioned on this website, either directly or via a link, any use by you of the third party provider’s website, products or information will be subject to the third party provider’s own terms and conditions. You should read these carefully.