Mortgage providers 'reducing LTV'
www.moneynews.co.uk > Mortgages > Mortgage providers 'reducing LTV'
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Mortgage providers 'reducing LTV'
Mon 14th Jan 2008
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The firm highlighted examples such as Alliance & Leicester, which has reduced LTV products from 95 per cent to 90 per cent, according to data from December 2007.
Meanwhile, Nationwide Building Society only offers 100 per cent LTV products with its guarantor mortgages and Egg has reduced the LTV on all of its products from 95 per cent to 90 per cent.
David Knight, mortgage analyst from Moneyfacts.co.uk, said that this trend has been happening since the first half of December.
"This is an understandable about-turn from the lending strategies we have witnessed over the last five years or so, when lenders pushed LTVs to highs of 130 per cent, with 95 per cent products considered the norm," he added.
Recently, broker Alexander Hall claimed that the credit crunch has not affected the self-certification mortgage market.
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