Halifax has increased the maximum loan to value (LTV) for its part interest-only/part capital repayment mortgages from 75% to 85%.
Halifax said that the change will allow customers who are “taking some of their borrowing on an interest-only basis to borrow at an overall higher LTV”.
The lender continued on to say that the maximum loan amount available on a pure interest-only basis is still 75%, subject to full criteria, and the maximum amount allowed on interest-only for sale of mortgaged property is also unchanged.
The change applies for applications started from 30 April, and for applications started before this date, the change will not apply.
Natwest increases existing customer rates
Natwest is upping the rates of select core residential products for existing customers by as much as 0.12%.
The changes to its existing customer rates will come into force from tomorrow.
On the two-year fixed rate switcher side, its 60% LTV product with no fee is going up from 5.15% to 5.27%. Its £495 fee version will go from 4.99% to 5.04%, and its £995 fee version will increase from 4.79% to 4.89%.
At 75% LTV, Natwest’s two-year fixed rate switcher product with no fee will rise from 5.25% to 5.32%.
Within its five-year fixed rate switcher products, the lender’s 60% LTV with £995 fee will go from 4.49% to 4.53%, while for its £495 fee version, the rate will increase from 4.59% to 4.64%.
The fee-free version will rise from 4.69% to 4.79%.
Anna is currently the deputy editor for Mortgage Solutions and editor for Specialist Lending Solutions. She has worked as a journalist since 2019, having secured her Gold Standard NCTJ diploma from News Associates in a fast-track six-month course.
She started her career as a report at specialist publication The Insurance Insider covering a wide range of areas before joining Mortgage Solutions and Specialist Lending Solutions in 2021.
In her role, she helps put together and structure the news agenda for the day and writes up press releases, reports, interviews, analyses and exclusives across both titles. She also commissions blogs for Specialist Lending Solutions and hosts online masterclasses and in-person events across the business.
She has been shortlisted for three journalism awards, which include BIBA Journalist and Media Awards Scoop of Year Award in 2020, Headline Money Mortgage Journalist of the Year Award (B2B) in 2022 and 2023.
Prior to being a journalist, Anna worked in ecommerce across Snow + Rock, Cycle Surgery and Runners Need websites, and before that worked at specialist financial PR firm Rostrum.
In her spare time, Anna enjoys reading, seeing live music, and cooking for friends and family. When she gets a chance, she also enjoys hiking, skiing and indoor rock climbing.
