The mutual has boosted the advance limit on 90 per cent LTV mortgages for residential house purchase and remortgages by £75,000 and will now lend up to £275,000.
At up to 85 per cent LTV the limit is now £300,000, a rise of £100,000. At 80 per cent LTV the new limit is £350,000 (up from £240,000). £100,000 has also been added to the limits at 75 per cent LTV, which is now £400,000, and 70 per cent LTV, now £450,000.
Available to direct customers and introducers, the new limits are designed to broaden the appeal of the Society’s competitive mortgages by welcoming in a wider price range of properties.
Although available for remortgages, the new thresholds will only apply where it is a straight replacement or for documented home improvements and not debt consolidation.
Hinckley & Rugby business development manager Carolyn Thornley-Yates said:
“By raising the advance limits at several value thresholds we hope many more customers will be able to access our great mortgage products and outstanding customer service.”
