Mortgage News
TSB raises lending to 90 per cent LTV for flats and maisonettes
TSB has increased the maximum loan to value (LTV) limit for flats and maisonettes to 90 per cent.
The bank will lend up to £500,000 and new-build properties are exempt from the change.
TSB initially excluded such flats, maisonettes and new-build properties when it relaunched mortgages for those with a five per cent deposit in April.
Since then, TSB has only been lending up to 85 per cent LTV on these properties, while houses and bungalows were eligible for up to 95 per cent LTV.
Under the updated criteria, new-build properties will still be restricted to 80 per cent LTV for purchases and 85 per cent LTV for remortgages with additional borrowing.
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Changes are effective from today.