N&P increases LTV on a number of mortgages

The Society has increased the LTV from 75 per cent to 85 per cent on its 2 year discounted variable rate mortgage at 2.59 per cent, and from 80 per cent to 85 per cent LTV on a selection of other discounted variable rates.
Richard Barker, N&P's product manager for mortgages, said: "These new higher LTVs across a broad selection of our variable rate mortgages mean that a greater number of people will be able to access these good deals, whether they are buying their first home, or looking to remortgage after coming off their previous deal with their mortgage provider
"This will be a welcome boost for many prospective homeowners who might have struggled to raise a sufficient deposit to purchase or re-mortgage in the current environment. An 85 per cent LTV mortgage discounted to 2.59 per cent for two years might be perfect for those looking for very low repayments while they find their feet as a homeowner, or our 3.50 per cent offset mortgage might suit them if they already have a nest-egg they want to utilise."