Increased LTV announced on remortages from Principality BS.
An increased maximum loan to value has been announced by Principality Building Society on a selection of products from its remortgage range.
Prior to this move, the lender offered loans for up to a maximum of 85% LTV for its fixed term remortgages of 2, 3 and 5 years. However, this has now risen to 90% with rates starting from 2.20%.
The review of Principality’s lending criteria could well appeal to you if you were a first-time buyer with a smaller deposit. If you are now coming to the end of your introductory term, you could be at the start of your search for a competitive remortgage to switch to, to keep your repayments as affordable as possible.
Deal Direct can help with your search as we know the market back to front. We can immediately point you towards a range of lenders from all over the UK who offer high LTV remortgages.
Principality’s review points to the fact that the remortgage market is changing. Despite the appearance of higher LTV’s, rules are getting ever more complex and mortgage rates are predicted to rise. Tightened mortgage criteria is now impacting all borrowers, and this includes everyone who is considering remortgaging their home.
Today’s market conditions are challenging and borrowers need all the help they can get to secure the right deal. As one of the UK’s leading mortgage brokers, our experienced advisers here at Deal Direct can assist you in sourcing a great loan from a receptive lender.
Secure your next mortgage with confidence with Deal Direct.
Contact us today on 0800 048 8828.
