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Future reduces secured loan LTVs

06- Feb-2008
With effect from Friday 8 February 2008 for new business and until 4 April for approved applications, Future Mortgages will reduce the maximum LTV rate from 90% to 85% on all secured loan applications.
 
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This new maximum will apply to both Status and Self Certification applications and all other product features and underwriting criteria remain unchanged across the entire Future Mortgages secured loan product range.
 
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Ian Warrilow, Head of Secured Lending commented: “This decision in no way diminishes our commitment to the Secured Loans sector, which is demonstrated by the recent launch of our new Fixed Rate loan. Future Mortgages will continue to review the market and develop new products to meet the needs of our clients and the market.”


Sources:-http://www.mortgagesolutions-online.com
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THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED,
IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.

A fee between 0% and 10% of the loan may be charged on some plans depending on credit history and ability to prove income. Example: Loan of ?5,000: 120 monthly repayments of ?04.66, 10.4%APR variable Loans secured on residential property.