Mortgage providers withdraw from market

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Mortgage providers withdraw from market

Mortgage borrowers that have more that 120% loans are experiencing increases in repayments when they come to remortgage, because most of the lenders offering this type of loan are withdrawing from the market. Mortgages offers up to 90% LTV plus another 30% as an unsecured personal loan, capped at £30,000.
Borrowers coming to the end of their 120% deals will only be able to renegotiate the mortgage portion of the loan with their current lender. They could also be penalised on rates as they will have a large unsecured loan.
Lenders are looking at affordability, so having a big unsecured loan with another lender may deal a blow to their chances of getting a new deal elsewhere. A typical borrower with a £125,000 mortgage could see repayments rise by nearly £220 a month.

Loans are subject to status. Loans are secured on property. Written quotations are available upon request.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBTS SECURED ON IT. THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME.

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