Posted on 25 November 2011 by
Following reports in the press that First Time Buyers aren’t aware of the return of High LTV’s (Loan To Value), we thought it worth making a bit of a splash about this.
We’ve said it before, but it’s not just about whether a lender offers high LTV product, but can you (the borrower actually have it, as the credit scoring that most high street lenders use is even more stringent above 75% LTV. Luckily as a whole of market broker we have access to lenders who can apply some commons sense and manual underwriting to high LTV propositions.
One of the more sensible lenders is the Saffron Building Society, who do not credit score and have an innovative approach to higher LTV’s and offer 95% loans up to a maximum of £500,000. They are focusing on First Time Buyers who have been renting for a 12 month period, and are therefore used to managing a monthly household budget.
More good news is that they have just reduced the rate on their 95% Fixed rate product to 5.79%
If you would like more information on this or any other of the Higher Loan To Value products we have access to then please contact us on the above number.
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