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Santander to raise LTV limit on flats

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  • 11/03/2016
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Santander to raise LTV limit on flats
Santander is upping its maximum loan-to-value (LTV) for residential non new-build flats.

For loans up to and including £350,000 the maximum LTV will be increased to 95%, with the maximum LTV for loans over this amount remaining at 85%.

The changes will take effect from Wednesday 16 March and will not affect the maximum 80% LTV for new-build flats.

So far this year, Santander has loosened its equity buffer for interest-only repayment and introduced a two-tiered affordability calculation for higher LTV buy-to-let deals.

Last month also saw the lender scrap the Abbey National brand which has been used on broker communications and sourcing systems since Santander took over the mutual in 2004.

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