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18
MAY
2020

Lenders reprice and fine tune criteria as market reopens

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Mortgage lenders have been adjusting their pricing and updating criteria as the market reopens and physical valuations resume this week.

This morning has already seen a host of lenders repricing their deals as and fine tuning their risk appetite ready for an expected surge in applications.

Platform has cut some 60 per cent loan-to-value deals while increasing its 90 per cent LTV rates.

Kent Reliance has emailed brokers to say it is withdrawing its current buy-to-let and residential deals and will be announcing new products and criteria tomorrow.

The lender says that existing cases where valuation fees have been paid and which fall within the new criteria will proceed as normal.

Hampshire Trust Bank has announced it is returning to 75 per cent loan-to-value, while also sounding a note of caution over house prices.

Leeds Building Society says it is extending existing mortgage offers by a further three months to give borrowers more time to complete.

The lender says this comes on top of a previous three-month extension, which gives applicants a total of six months extra time in which to complete.

Foundation Home Loans and Bluestone Mortgages have emailed brokers to remind them that they are resuming lending today.

Lendinvest and TSB have also notified advisers that physical valuations are now being booked.

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