Lloyds softens lending attitude on new-build

Friday 3rd February 2012

Lloyds Banking Group is raising LTVs on mortgages for selected new-build houses from 80% to 90%.

The new limit does not apply to apartments, where the maximum LTV remains at 80%.

The 90% products are available through Halifax Intermediaries and will not be available on all new-build houses. They are restricted to those built by Barratts, Persimmon Homes and Taylor Wimpey.

A spokesman for Halifax says: “We have introduced some products available for new-build purchases where the maximum LTV is now aligned with our core range.

“This does not apply to all new-build lending and is only available through selected house builders. This move recognises changes in the new-build market and will allow us to support those unable to meet larger deposit requirements.”

Separately, Lloyds Banking Group has announced that it will maintain the number of branches in its network for the next three years.
 
António Horta-Osório, Lloyds Banking Group chief executive, said: “We want to put the customer at the heart of everything we do and it is why last year we put a moratorium on branch closures.

“Today we commit to keeping the same number of branches on a net basis, over the next three years. And we also commit not to close a branch if we are the last one in a community.”