Since the sub-prime crisis, banks and lenders have been wary of lending to high risk borrowers . Some lenders have withdrawn from some lending markets, whilst a significant amount of lenders have increased their interest rates and reduced their maximum loan to value rate.
Future Mortgages are the latest bank to adopt a tighter approach, having cut their maximum loan to value rate from 90 per cent to 85 per cent. The new maximum will apply to both Self Certification and Status applications, though other criteria will remain the same for their secured loan offers.
Future Mortgages Head of Secured Lending, Ian Warrilow, has affirmed his company’s commitment to the secured loan sector, citing their new Fixed Rate loan as an example of their ongoing commitment.
Future Mortgages the Latest to Tighten Loans Policy
Future Mortgages the Latest to Tighten Loans Policy
Mon, 11 Feb 2008
Recommended links
The Essential Personal Loans GuideNeed a Credit Report?
Debt Solutions
Secured Loan Lenders
Cheap Loan Offers
Personal loans best for consolidation, expert says
Barclays Sets Up Fair & Square Loans Company
| Personal loans news |
|---|
| Supermarkets Bring Back Competition to Personal Loan Market - Fri, 12 Mar 2010 |
| Loan Exchange Website Enjoys Successful Year - Mon, 08 Mar 2010 |
| Bank Cuts Interest Rates on 80 per cent Home Loans - Fri, 05 Mar 2010 |
| More News |
SimplyHealth Dental Plan
Get covered from £7.70 per month!
Amex Cash Back
Credit Card
Credit Card
Get 5% cash back on purchases with Amex
Income Protection Insurance
Get an instant quote with the award winning company
Paying Too Much?
7 out of 10 people are paying too much for their mortgage. To find out if you're one of them click here or fill out a FREE no obligation enquiry form