| Product | Gross Fee paid by lender | Net fee paid to regulated broker | Net Fee paid to non-regulated & client referral service |
|---|---|---|---|
| All Products | 0.80% Gross (£12,000 max) | 0.40% to Broker (£6,000 max) | 0.20% |
In January 2024 Complete announced an exciting new partnership with Hinckley & Rugby For Intermediaries, which helps extend the reach and benefits of the Society’s flexible mortgage products, including Credit Flex.
Credit Flex Mortgages
Credit Flex mortgages are suitable for individuals whose credit history or credit score means they are not able to secure a standard mortgage, or applicants who do not wish to be assessed using automated credit scoring. This could include those who have missed payments or defaults, or have satisfied County Court Judgment (CCJs).
Our Credit Flex mortgages are available for first time buyers and applicants looking to purchase a new home. They are also available for those looking to remortgage if they have owned the property for at least six months.
They are not available for applicants who do not live in the property, or existing members who are looking to switch their mortgage or borrow more. This product is not suitable for applicants who have missed payments on secured lending within the last 6 months, have outstanding payday loans or have a deposit of less than 20%.
As Credit Flex mortgages consider complex credit history, they have a higher interest rate. This means they are not suitable for applicants who meet the criteria of our standard mortgage products.
Two exclusive mortgage products have been launched to support the partnership: a five year fixed Credit Flex mortgage, and a two year discounted Specialist mortgage.
Flex Together – enhanced JBSP
Flex Together is our Joint Borrower Sole Proprietor mortgage but better!
It allows up to four borrowers on a mortgage application to help boost affordability, and that includes family members AND FRIENDS!
We calculate affordability based on an income multiple of x4.49 for the two highest earners and x1 for any additional applicants*, all parties share responsibility for the mortgage, but only the main purchaser is on the property deeds.
For joint applicants who are close family members (parents, spouse or siblings), the maximum LTV (Loan to Value) is 95%, for other joint applicants it is 80%.
But what makes Flex Together even more special is our Tailored Term tool. This enables different applicants to share the mortgage over different timescales, removing the term limitations faced when joint applicants have a significant age gap.
This product proves very popular with first time buyers but can also act as a helpful aid for those taking their next steps into their dream home.
*For consideration of higher income multiples for additional applicants please refer to one of our team who will be happy to help.
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