TSB has increased the maximum loan sizes on buy-to-let loans to £1m for mortgages up to 75 per cent loan to value (LTV).
For amounts above 75 per cent LTV, the most TSB will lend is £500,000.
This follows the bank’s decision to raise the maximum loan on residential mortgages up to £750,000 between 85 and 90 per cent LTV.
TSB has also withdrawn its five-year fixed rate mortgages up to 85 per cent LTV with five-year early repayment charge periods.
Changes apply from today.
Clydesdale changes new-build criteria
Clydesdale Bank has amended the new-build criteria to accept cash incentives of up to five per cent of the purchase price up to 90 per cent LTV.
This includes cashback deals, stamp duty contributions and payment of professional fees. The lender will also accept non-cash incentives without impacting the loan amount.
Elsewhere, Clydesdale has reduced the minimum income for newly qualified professionals from £40,000 to £30,000. Borrowers applying for a newly qualified professional product may be eligible for borrowing amounts of up to 5.5 times income.
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