Friday, Jan 25, 2008
Lenders reduce LTV to avoid "rubbish"
FT: UK lenders steer away from 100% mortgages
Norwich and Peterborough has now reduced its maximum loan-to-value from 100 per cent to 90 per cent. Matthew Bullock, chief executive, said: “Anyone out there with a 100 per cent offering will get all the worst propositions coming to them – you’ll get all the rubbish. People will say ‘they’re still in the market, let’s go to them’. They wouldn’t get through our filters, but we’d still have to process them.”
Posted by flamepoint23 @ 10:08 PM (153 views) Add Comment
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