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Two lenders pull low deposit mortgages in response to demand

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Written by: Shekina Tuahene
07/08/2020
Halifax and Platform have temporarily withdrawn some higher loan to value mortgages, although options remain for borrowers with a modest deposit
Two lenders pull low deposit mortgages in response to demand

Two high street lenders have removed loans for borrowers with smaller deposits from the market.

Halifax has temporarily withdrawn all two-year fixes within its home mover and first-time buyer ranges at 80-85 per cent loan to value.

Its three and five-year offerings at this lending tier are still available.

Ian Wilson, head of Halifax Intermediaries and Scottish Widows Bank, said: “We are committed to supporting the mortgage market, these changes will allow us to respond to customer demand and make sure we continue to offer the best possible service levels.”

Platform

Platform has temporarily withdrawn two of its mortgage products.

The five-year fixed fee-free product at 90 per cent loan to value (LTV) has been pulled, as well as the help to buy two-year fixed with fee-free and £999 fee options at 60-75 per cent LTV.

This has brought Platform’s maximum lending back down to 85 per cent LTV.

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