Overwhelming demand for 90% LTV mortgages

July 02, 2020

If you’ve been on the lookout for a mortgage, or indeed keep an eye on financial news, you may have spotted that *some* lenders have withdrawn 90% LTV mortgages.

However, this is not a negative reflection on the economy, simply a response to the unprecedented and overwhelming demand these particular lenders have experienced in recent months.

Accord Mortgages, Clydesdale Bank and Virgin Money have temporarily withdrawn products at 90 per cent loan-to-value, citing “unprecedented demand”.

Much of this comes as a result of the pent-up demand between March and May where with a number of staff on furlough and unable to function ‘as normal’, lenders were unable to keep up with enquiries.

Ultimately, we’re still assisting first time buyers and those requiring a higher loan-to-value mortgage on a daily basis. However, it may signal a need for impartial financial advice in order to access the best, and most appropriate products on the market. 

If you’re looking for a mortgage to suit your needs, we’d be very happy to put you in touch with one of our partners who can offer an informal, over the phone chat to discuss your needs and requirements.

If you’d like us to help, simply contact your local branch and we can pass you on to a trusted advisor.

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