TSB has increased its lending limits for new-build properties.
The bank will now lend up to 85 per cent loan to value (LTV) on flats and maisonettes, up from 80 per cent.
For new-build buy-to-let homes, second homes and holiday homes, TSB will lend up to 75 per cent LTV. This is a 10 percent increase.
These changes will apply from today.
Its lending limit on new-build bungalows and houses remains unchanged at 85 per cent LTV.
Virgin Money increases rates
Virgin Money has hiked rates on selected mortgages.
The intermediary exclusive two-year fixed purchase product at 85 per cent LTV has gone up to 1.63 per cent from 1.49 per cent.
The intermediary exclusive five-year fixed product at 75 per cent LTV has been increased from 1.45 per cent to 1.56 per cent. Both products have fees of £995.
Within its core range, mortgages at 65 and 75 per cent LTV will be increased by up to 0.14 per cent.
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
