Lower LTV deals fail to give clients much choice

Why is everyone within the lending industry behaving like they are our saviours?

I’m tired of hearing the government, the Bank of England and individual lenders shouting about how they are the ones who have helped to save the market.

Although anything is better than nothing, lenders are aiming their ‘fantastic’ deals at the wrong end of the market.

Anyone with an ounce of common sense would see that borrowers who originally needed 65% to 75% LTV deals now need 75% to 85% ones or even higher in some cases.

Nevertheless, there doesn’t seem to be any activity in this area to help consumers.

How many customers do the lenders think they are helping with lower LTV deals? A review of my client base shows the majority need higher LTVs.

I have more customers waiting on lenders’ SVRs today than at any point since I can remember. This is not right.

It would be good if lenders held up their dirty little hands and surrendered.

Offering market-leading rates to the wrong end of the market is not what we need. I would rather see an equalisation of rates across the board if it meant being able to offer my customers some choice.

Steve Wilding-Hewitt

Director and mortgage adviser

Evolution Mortgage Consultants

By email