For Buy-to-Let mortgages the maximum loan per property is increased with immediate effect to £1.5 million, and the maximum total aggregate lending rises to
£5 million. For Self-Certification mortgages, the maximum loan available is now £1 million. In addition, the Bank has increased its maximum LTVs for remortgages for these types of lending.
Mark Sismey-Durrant, Chief Executive, comments: ‘These changes to Heritable Bank’s lending criteria are further proof of our commitment to the specialist mortgage lending market. With our individual underwriting services, we are in a strong position to service those customers with more complex borrowing requirements.’
Heritable Bank lends on property in England and Wales and offers Status mortgages as well as Self-Certification and Buy-to-Let lending facilities. The Bank offers a range of standard variable, discounted, LIBOR-linked and fixed interest rates and can provide mortgages split between different interest rate and mortgage repayment method types.
Heritable Bank has decided, following last week’s Bank of England base rate rise, to hold its standard variable and discounted rates for the present time.
