Lenders kick-start mortgage deals

Some big lenders have begun reopening their doors to British borrowers, making it easier to get a home loan. At the start of the coronavirus lockdown, several scrapped deals or only offered loans to those with large deposits. But this week Nationwide resumed loans at 85% loan-to-value (LTV), while Halifax raised its LTV level from 80% to 85%. Meanwhile, Virgin Money began offering purchase mortgages again, as Santander increased its maximum loan size - from £300,000 to £500,000 - and cut fees on its residential mortgages. Additionally, several lenders will allow applications where a "remote valuation" has been carried out. Lenders such as Precise and Kent Reliance have returned to the market using remote valuations.

BBC News (22/04/2020)   The Daily Telegraph (22/04/2020)

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