Mortgage News
TSB ups new build LTV limits; Virgin Money increases rates – round-up
TSB has increased its lending limits for new-build properties.
The bank will now lend up to 85 per cent loan to value (LTV) on flats and maisonettes, up from 80 per cent.
For new-build buy-to-let homes, second homes and holiday homes, TSB will lend up to 75 per cent LTV. This is a 10 percent increase.
These changes will apply from today.
Its lending limit on new-build bungalows and houses remains unchanged at 85 per cent LTV.
Aldermore Insights with Jon Cooper: Edition 9 – Why lending strategy is becoming more central in buy to let
Sponsored by Aldermore
Virgin Money increases rates
Virgin Money has hiked rates on selected mortgages.
The intermediary exclusive two-year fixed purchase product at 85 per cent LTV has gone up to 1.63 per cent from 1.49 per cent.
The intermediary exclusive five-year fixed product at 75 per cent LTV has been increased from 1.45 per cent to 1.56 per cent. Both products have fees of £995.
Within its core range, mortgages at 65 and 75 per cent LTV will be increased by up to 0.14 per cent.