TSB has increased the maximum loan to value (LTV) limit for flats and maisonettes to 90 per cent.
The bank will lend up to £500,000 and new-build properties are exempt from the change.
TSB initially excluded such flats, maisonettes and new-build properties when it relaunched mortgages for those with a five per cent deposit in April.
Since then, TSB has only been lending up to 85 per cent LTV on these properties, while houses and bungalows were eligible for up to 95 per cent LTV.
Under the updated criteria, new-build properties will still be restricted to 80 per cent LTV for purchases and 85 per cent LTV for remortgages with additional borrowing.
Changes are effective from today.
Shekina is the deputy editor at Mortgage Solutions and commercial editor at Mortgage Solutions and Specialist Lending Solutions. She has nearly eight years of experience in the B2B publishing market, having previously covered the hospitality, retail, pet, accounting and jewellery sectors.
Shekina has worked for Mortgage Solutions and Specialist Lending Solutions for almost five years. Here, she covers the market’s breaking news stories, engages with professionals in the sector, and oversees any commercially agreed content in partnership with mortgage-related companies.
This includes presenting webinars and hosting roundtable discussions on developing themes in the mortgage sector.
She is an NCTJ-trained journalist and was nominated for the Headline Money Awards Mortgage Journalist of the Year in 2021.
In her spare time, Shekina likes to read, travel, listen to music and socialise with friends.
She currently reports on current events in the mortgage market and liaises with financial clients to produce sponsored content.
Follow her on Twitter at @ShekinaMS
