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Santander, TSB and Platform expand mortgage ranges

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  • 02/06/2020
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Santander, TSB and Platform expand mortgage ranges
Santander, TSB and Platform have widened product offerings, as lenders improve borrowing options following the easing of lockdown.

 

Santander has increased its maximum loan amount from £1m to £3m.

At the same time, the bank is reintroducing 75 per cent loan to value (LTV) buy-to-let mortgages.

Helen Harrison, head of intermediary distribution at Santander for Intermediaries said: We are pleased to have remained open for business during the Covid-19 pandemic, progressing 70 per cent of mortgage applications using automated valuation models (AVM).

“However, we know that some customers have found it difficult to find suitable borrowing for their needs. We are pleased to announce today’s updates to our product range to offer support for buy-to-let customers and those looking to take out a larger loan.”

TSB expands 85 per cent LTV range

TSB has introduced two-, three-, five- and 10-year fixed deals at up to 85 per cent LTV for purchase and remortgage.

The lender is also now offering two- and five-year 85 per cent LTV deals for shared ownership and shared equity house purchase and remortgage.

And it has reduced rates by 0.15 per cent on two-year fixes at up to 80 per cent LTV for remortgage.

TSB has withdrawn its 10-year fixed deals at up to 80 per cent LTV for purchase and remortgage.

TSB head of intermediary mortgages Beverley Bradford said: “We want to assist our customers as much as we can, particularly during these changing times. These new introductions reflect the needs of our customers particularly those seeking a higher loan size.”

Platform returns to 80 per cent LTV lending

Platform is reintroducing mortgages at 80 per cent LTV for buyers in England, and also relaunching new build deals at up to 80 per cent LTV.

The products will be available from 3 June.

Fred Sharp, head of intermediary business said: “We are glad to reintroduce lending at a higher LTV for those homebuyers that need more lending to help with their home purchase aspiration.

“As we await further guidance on offering these types of products to the rest of the UK, these reintroduced products will be limited to homebuyers looking to purchase homes in England.

“We are working on reintroducing further products back into our range in the coming weeks and we will continue to keep our corporate partners and network of brokers updated on any changes to our range of available mortgages.”

 

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