90% lending grows as lenders re-enter the low-deposit mortgage market
Virgin Money and Clydesdale Bank will bring back mortgages at up to 90 per cent of the property’s value – known as 90% loan to value (LTV) – from next week.
The lenders are launching a wider range of products, including buy-to-let up to 80 per cent LTV and residential at 90 per cent LTV.
The deals will be supported with a mix of physical and non-physical valuations.
And temporary limits on loan sizes and property values will be removed, meaning the lenders will be accepting applications for large loans, shared ownership, professional and new build cases.
It comes after the government announced physical valuations can again take place in England from this week.