Larger loan size possible on higher LTV’s from mortgage lender, Principality.
Mortgage lenders often restrict loan sizes on the mortgages they offer. This can reduce risk for them; however, it may also mean they lose customers by not fully serving their needs.
Principality BS, for instance, had previously imposed a loan limit of £350,000 for its 80-85% LTV mortgage range. However, it has just announced that its new maximum is now £500,000.
The reevaluation of their strategy has been brought about as a result of broker feedback. House prices are continuing to rise, which effectively shrinks deposit amounts, and lenders must respond if they are to keep pace with customer requirements.
Deal Direct has reported back to lenders that your needs are constantly evolving. Principality is the latest mortgage provider to reassess their ranges and respond positively to changing demands because of pressure we have been able to exert on your behalf.
This is why consulting with us is beneficial as we can effect changes that better match your circumstances and requirements.
The lender has also taken the step of extending the validity of a mortgage offer to six months for new build properties, again in response to customer demand for certainty.
To find out what loan size is possible for you, why not chat to one of our team online or call us today?