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Leek United BS caps interest-only LTV at 50%

Leek United Building Society has become to latest lender to tighten its interest-only criteria by limiting its maximum loan-to-value on this type of lending to 50%.

Previously the building society lent up to 75% LTV on an interest-only basis.

The building society has also placed a minimum property valuation of £100,000 where it lends outside the area serviceable by its branch network, which it defines as 20 miles away from one of its branches.

Earlier this month, ING Direct and Newcastle Building Society cut their maximum loan-to-values on interest-only lending from 75% to 50%. Principality Building Society also restricted its interest-only lending to three products but kept its maximum LTV at 85%.


MS Leader: Rent-back rears ugly head

Many in the broker community thought they had seen the last of the sale-and-rent-back market earlier this year when the regulator boldly declared the sector was effectively closed, following a review.


See glass as half full in these testing times

Albert Einstein once said that in the middle of difficulty lies opportunity. That’s definitely true of the mortgage market.
We have had the recent changes to interest-only and tightening of lending criteria.

China: growth defence or another debt-fuelled boom?

By Douglas Turnbull, Head of Chinese Equities at Neptune Following recent stimulus efforts from Beijing, Neptune’s Douglas Turnbull examines how the government’s long-term reform agenda can be balanced with supporting growth and addressing structural challenges, and the investment opportunities arising from this.Click here to read more Important information: Investment Risks Neptune funds may have a […]


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