BM Solutions has increased the loan-to-value (LTV) from 65% to 75% for new build mortgage applications.
The new maximum LTV is available on flats as well as houses. All of the lender’s existing products will be made available for new build properties.
Phil Rickards, (pictured) head of BM Solutions, said: “Increasing the LTV to 75% across all new build products demonstrates our commitment to supporting the new build sector and provides landlords with greater support in providing rental accommodation.”
Last month it was reported London could see up to 570,000 new homes over the next 10 years, according to research from London estate agent Stirling Ackroyd.
