Nationwide returns to high-value loans mortgage market
www.moneynews.co.uk > Mortgages > Nationwide returns to high-value loans mortgage market
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Nationwide returns to high-value loans mortgage market
Tue 29th Mar 2011
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From tomorrow (March 30th 2011) onwards, the building society will increase its maximum loan size from £1 million back to £2 million so that it can provide competitive deals for people intending to buy high-value properties.
Borrowers will be able to take advantage of five-year fixed rate mortgages at a rate of 4.59 per cent, with up to 70 per cent loan-to-value (LTV) ratios available.
A Nationwide spokesperson said it may also consider higher LTVs depending on individual circumstances.
"We believe the market has settled sufficiently for us to return to lending larger loans," the source added.
This comes after Santander also announced at the end of last year that it will offer mortgage loans of up to £2 million.
What Mortgage's Ben Wilkie recent said that fixed rate mortgages are currently popular among Britons keen to avoid the effects of any future rise in interest rates.
Click here for more mortgages news
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Related News : Nationwide |
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