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Future slashes LTVs

Future Mortgages is slashing LTVs on its first mortgage product range to 80%.

The changes take effect after close of business today and the max LTV is being cut on the lenders prime, near prime and light products.

Medium products will be reduced to a maximum LTV of 70% and heavy products a maximum LTV of 60%.

Future will honour any pipeline business where Key Facts Illustrations have been issued and where a valid online DIP has been submitted up to and including today.

A statement from Future says: The closing date for receipt of fully packaged business will be Friday May 9.

In light of an ever-changing market where well publicised tightening of criteria and pricing increases continues on an almost daily basis.

Future says it has reviewed its overall lending positioning as volumes continue to flow at unprecedented levels.

The lender says it is managing the existing process pipeline through whilst simultaneously servicing new business.


House prices static in February

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Godiva joins The Exchange

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HML makes sales appointment

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Bridging is no longer a dirty word

It’s not that long ago that short-term finance, or, perhaps more specifically, bridging finance were viewed as dirty words by mortgage brokers. The rates on offer were punishing, meaning there were only a handful of situations where it would be appropriate to arrange one. Some lenders didn’t exactly uphold great reputations for service standards either; […]


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