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Danske Bank and Coventry Building Society re-enter 95 per cent LTV

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  • 29/03/2021
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Danske Bank and Coventry Building Society re-enter 95 per cent LTV
Danske Bank and Coventry Building Society are re-entering the 95 per cent loan to value (LTV) mortgage market.

 

Danske Bank has gone live with its offering which is available for purchase and remortgage.

The lender has launched two-year and five-year fixed rate products with rates for both at 4.4 per cent during the fixed period which then drops to the follow-on rate, currently at 3.3 per cent.

A full-term tracker is also available at 4.79 per cent.

Applications are open for employed borrowers earning at least £40,000 and are available for properties up to £500,000.

 

Coventry Building Society

Meanwhile, Coventry Building Society is re-launching it’s 95 per cent LTV mortgage range tomorrow.

Product details will not be announced until the range goes live.

Kevin Purvey, director of mortgage distribution at Coventry Building Society, said: “Helping more first-time buyers get on the property ladder is a key focus for us and we recognise that one of the biggest hurdles facing many of them is the size of deposit required by lenders.

“We continued to support the market last year by lending at 90 per cent LTV and our enhancement to 95 per cent this week will provide further solutions for would be buyers.

“And importantly, our intermediary partners can be confident in our ability to deliver consistent levels of service across our telephony and underwriting teams.”

 

Market flurry

The duo have joined a flurry of lenders who have re-entered the 95 per cent LTV market during the month.

Accord Mortgages has been joined by Bank of Ireland and Skipton Building Society, with Aldermore doing so temporarily, while TSB announced its intention to re-launch in April.

And six high street names have pledged their backing to the government’s 95 per cent mortgage guarantee scheme which is also due to launch next month.

 

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