Mortgage company increases LTV ratios
Abbey, one of the leading mortgage companies in the UK, has announced that it will increase the loan to value ratio on many of its most popular mortgage packages.
One of the leading fixed-rate mortgage providers in the UK has announced that its mortgage customers will benefit from an increased loan to value (LTV) ratio.Abbey said that the two, three and five-year fixed-rate mortgages that were previously available at 60 per cent LTV will now be made available to customers at 70 per cent LTV, which the bank claims will make them more accessible to borrowers.
The bank added that the mortgages will continue to carry the same price tag, but the increased loans may make it easier for property investors to buy the house they want.
Nici Audhlam-Gardiner, Abbey director of mortgages, said: "Such great rates won't be around for long, so borrowers looking to take out a fixed-rate to guarantee certainty of their monthly payment should take advantage now."
Abbey is part of the Spanish-owned banking group Santander, which has operations in more than 40 countries worldwide.
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