View more on these topics

Stroud & Swindon pulls 100% mortgage

Stroud & Swindon has become the latest lender to pull its 100% LTV mortgage.

Brokers were told four days ago that the mortgage was be withdrawn at close of play today.

The society says the product became too popular following a number of withdrawals from the high LTV market, it will now only borrow up to 90% LTV.

A spokesman for Stroud & Swindon, says: “We have had enough of this type of business at the moment. We can only write so much 100% LTV business, as other lenders pulled from the market the product became more popular.”

He could not say for sure whether it would be returning to the 100% LTV market, but it will be monitoring the market.

The move follows the decision by Mortgage Express to withdraw its 100% LTV range earlier in the week.

Recommended

BM blows out the birthday candles

BM Solutions is celebrating the third anniversary of its Premier Desk.Launched in 2005 to just five brokers, the goal of the Premier Desk is to provide a select number of brokers with a dedicated service. The proposition now extends to 52 brokers, ranging from small to larger firms.They benefit from a dedicated phone line with […]

Solent launches online product research service

Solent Mortgage Services has launched an online product research service to help brokers undertake independent product research.Called Solent Enquiry to Application System and available through the Porthole, SMS’s online portal, it enables brokers, regardless of the mortgage platform they use, to upload client information and, by engaging the module, undertake in-depth product analysis from which […]

Quest unveils anti-fraud system

Quest has launched an anti-fraud tool designed to spot suspiciously high valuations. Launched after trials and discussions with key industry figures, Q-Price Alert will work alongside Quest’s existing fraud detection software to allow surveyors and lenders to identify surveys or mortgage applications with valuation figures that seem too high.It works by using Land Registry data […]

Newsletter

News and expert analysis straight to your inbox

Sign up