Higher LTV rates drop further!
We have seen various lenders announce new product ranges this week, with 95% deals dropping as much as 0.26%. The 90% rates have also improved with the headlining rates now offering a reduction of 0.1% in rates comparison to the rates available last week.
HSBC simplify their Loan to Income policy
This week HSBC announced they are simplifying their overall Loan To Income (LTI) policy. They are increasing the maximum LTI for sole or joint income greater than or equal to £100,000 to 5.5 times income for applications with an LTV less than or equal to 90% LTV, making them now one of the most generous high street lenders for high earning applicants with a sole or joint income of £100,000+.
They have also introduced a new minimum sole or joint income of greater than or equal to £40,000 to offer 4.75 times total income for less than or equal to 90% LTV, meaning applications with an income between £40,000-£99,999 can now access 4.75 times even with only 10% deposit. Speak to your adviser for further information.
TSB improve BTL process for EEA and Swiss Nationals
Meanwhile, TSB have made some improvements to their residency criteria meaning EEA and Swiss National applicants with a share code confirming pre-selled status, will no longer be referred to underwriting for manual review, and can now apply for a Buy to Let mortgage in the same way as applicants with settled status.
