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New Build Properties | TSB Have Increased Max LTV

New build properties

In a move to support home buyers, TSB has raised the maximum Loan-to-Value (LTV) on new build properties. This strategic decision opens new possibilities for prospective homeowners. It also reflects TSB’s commitment to adapting its offerings to meet the market’s changing needs.

By increasing the LTV limit, TSB provides a financial boost to those investing in modern homes. This fosters growth in the housing sector. Additionally, this adjustment underscores TSB’s dedication to staying at the forefront of the financial industry. Moreover, it ensures customers can seize opportunities in the dynamic world of property ownership.

What are we expecting this to happen?

TSB aims to provide enhanced financial flexibility and opportunities. This benefits individuals looking to invest in or purchase newly constructed properties. Aligning the maximum LTV for new build flats and maisonettes with houses and bungalows at 85% fosters equal access. Thus, financing options are more accessible across different types of new build residences.

This update is particularly beneficial for those seeking financial support for new-build properties. These include flats, maisonettes, houses, and bungalows. Additionally, the increased maximum LTV on second homes, holiday homes, and Buy to Let properties rose from 65% to 75%. This reflects TSB’s commitment to supporting diverse property ownership goals, especially new builds.

It is important to note that the actual LTV offered depends on individual credit scores. This ensures a personalised approach to lending, considering each applicant’s financial standing. These changes take effect on November 16, highlighting TSB’s dedication. The bank adapts to the evolving needs of customers in the dynamic real estate landscape, particularly those interested in financing new build properties.

Here’s a summary of the changes:

To learn more about TSB’s lending criteria, visit our website here.

TSB is helping First-Time Buyers and Home movers by offering lower rates on new-build properties for Help to Buy, Shared Equity, and Shared Ownership mortgages.

See their product guide here for more information.

See their products here.

Connect Mortgage Network  | Here to provide advisers with product updates

In mortgage networks, Connect plays a pivotal role in driving the progress of mortgage expertise, such as in new build properties. Our dedication goes beyond traditional mortgage offerings, as we actively support and facilitate the incorporation of specialised lending solutions.

These unique financial products encourage our advisers to engage with their clients about exploring new build properties and underscore the significance of product knowledge and awareness of eligibility criteria. We achieve this through our lender digital learning program, where participation earns Continuous Professional Development (CPD) credits.

Together, these efforts provide top-notch advice and service to our expert mortgage brokers’ client base.

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