"Increasing the LTV to 90% for standard JBSP means we’ll be able to help more people realise their home ownership ambitions."
Two-year variable discounted rates start at 2.75% and are currently available for residential mortgages in England and Wales.
For proprietors whose income is insufficient to cover the mortgage without the assistance of additional joint borrower(s) who live independently from the mortgaged property; affordability will be assessed taking into account income and commitments of all named parties.
The Loughborough’s criteria allows borrowers to potentially take a mortgage over 40 years, rather than have a restricted mortgage term at the outset.
Ashley Pearson, BDM at Loughborough BS, said: "We launched this solution in November 2020 at 85% LTV and have been pleased with the response. Increasing the LTV to 90% for standard JBSP means we’ll be able to help more people realise their home ownership ambitions. It also sits nicely alongside our 100% Deposit Guarantee JBSP offering."
