Mortgage Lender News - April 2020
Interesting news from mortgage lenders. You can be prepared and engage a lender and a Solicitor like JWD, ahead of time!
BBC NEWS - Some big lenders have begun reopening their doors to British borrowers, making it easier to get a home loan. At the start of the coronavirus lockdown, several scrapped deals or only offered loans to those with large deposits. But this week Nationwide, Halifax, Virgin and Santander all made it easier for people to qualify for a loan. "Lenders are adapting and innovating," said broker Mark Harris of SPF Private Clients. Nationwide resumed loans at 85% loan-to-value (LTV) on Wednesday, while Halifax raised its LTV level from 80% to 85%.
Meanwhile, this week Virgin Money began offering purchase mortgages again, as Santander increased its maximum loan size - from £300,000 to £500,000 - and cut fees on its residential mortgages.
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