Brendan Burgess
Founder
- Messages
- 52,115
An interesting development so early in the year.
Mortgage squeeze as banks shut off option to exceed lending limits
Banks are currently allowed to exceed the limits in any calendar year as follows:
15% of cases can exceed the LTI limit.
5% of first time buyers can exceed the 90% LTV limit
20% of second and subsequent buyers can exceed the 80% LTV limit.
Lenders could get around the calendar year problem by limiting loan approval to 3 months in cases where exemptions are granted.
Brendan
Mortgage squeeze as banks shut off option to exceed lending limits
Banks are currently allowed to exceed the limits in any calendar year as follows:
15% of cases can exceed the LTI limit.
5% of first time buyers can exceed the 90% LTV limit
20% of second and subsequent buyers can exceed the 80% LTV limit.
Lenders could get around the calendar year problem by limiting loan approval to 3 months in cases where exemptions are granted.
Brendan