Fleet pulls higher LTV products amid Brexit property price fears

by:
  • 30/06/2016
  • 0
Fleet pulls higher LTV products amid Brexit property price fears
Fleet has revealed it withdrew its higher loan-to-value (LTV) products from its mortgage range following the UK’s decision to leave the European Union, amid fears property prices may fall.

The lender pulled all of its 80% LTV products and some from its 75% and 65% ranges in a move it has described as being ‘prudent’ while the fallout from the Brexit was being digested and understood.

It said it did not want to encourage borrowers to take on too much debt in what could be falling property market.

“While I don’t believe we will see huge falls in property prices – the underlying demographics are far too strong – nonetheless we believe in being prudent,” said Bob Young (pictured), chief executive of Fleet Mortgages.

He added: “Going forward we’ve a range of exciting improvements to our range aimed at the semi-professional and professional market which we are in the process of introducing. Additionally, we are repricing some of our products and we will have these into the market very soon.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in