Mortgage Lenders Relaunch Products
Virgin Money and Clydesdale Bank will offer a wider product range next week, as the property market continues its recovery following the corona virus lockdown.
The lender has indicated that it will provide products which include a 90% loan to value (LTV) rate for residential mortgages, and an 80% LTV for buy-to-lets.
It has also been revealed that the limit on loan sizes will also be removed, as they relaunch their shared ownership, professional and new build products.
These products will only apply to the English property market, as that has been enabled to re-open, it is thought the products would also be available to the rest of the UK once their respective markets were given the green light.
Many lenders reduced their product range in a bid to reduce the financial risk incurred by buyers whilst the housing market was under lockdown. However, now it appears to be the time to reconsider this approach.