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| Leadbay lowers LTVs to raise lead quality |
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| 18th March 2008 |
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| Leadbay is raising the quality of its leads by lowering the loan to value that borrowers can ask for. This will come into effect from Monday 17th March. |
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| Lowering the loan to value to realistically reflect what lenders will lend on will maintain the exceptionally high quality of leads offered by Leadbay as it will help to ensure that when an adviser buys a lead they stand the best possible chance of placing the mortgage.The new LTV limits will be: |
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 First time buyers lowered from 110% to 100% |
| Purchase remains the same at 100% |
| Remortgage remains the same at 100% |
| Self cert remortgage lowered from 95% to 90% |
| Self cert purchase lowered from 95% to 90% |
| Buy to let lowered from 95% to 90% |
| Adverse credit remortgage lowered from 95% to 85% |
| Adverse credit purchase lowered from 95% to 85% |
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| Simon Baker, Leadbay’s Commercial Manager says, “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. |
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| “Lower LTVs will give advisers a much greater chance to place the business and make money off the leads they have bought. |
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| “We pride ourselves on the quality of our leads and our ability to help brokers in a way that best suits their business. We want advisers to be able to convert as many of our leads as possible, so lower LTV limits is another step to make sure this is possible.” |
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| Leadbay prides itself on providing the best quality leads in the UK, so if for some reason the lead is a hoax, or the borrower is uncontactable, Leadbay will refund the amount that the adviser has paid for that lead. Leadbay is the only lead generator in the UK to refund on both hoax and uncontactable leads. |
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| Notes for editors |
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| Leadbay Loans and Leadbay Mortgages form part of Add Momentum which launched in the summer of 2003. It focuses on delivering innovative services that are customer-focused and easy to use. Its ethos is to bring people and technology together; to help people to fulfil potential, achieve new things and make a real difference. |
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