Scottish BS reintroduces high LTV lending

Scottish BS reintroduces high LTV lending

Scottish Building Society has resumed lending up to 90 per cent loan-to-value across its mortgage range.

Yesterday (May 25) the lender also confirmed that a maximum LTV of 95 per cent is available on its professional mortgages, which are available to applicants such as accountants and solicitors.

The building society said it wanted to ensure it was “responding quickly and responsibly” in light of the easing of lockdown measures and the return of physical valuations, as announced by the government two weeks ago.

Article continues after advert

It is one of many lenders to resume higher LTV lending this month.

David Hollingworth, associate director, communications at L&C Mortgages, said: “Lenders have shown just how quickly they can respond to what has been a rapidly changing situation.

"Fortunately there is now room for some positive moves and Scottish Building Society has shown how quickly building societies can adapt. The more that lenders develop their product range at higher LTV the better the choice for brokers and their customers."

Mr Hollingworth added: "Moving back to 90 per cent and offering a 95 per cent option to professionals is a really positive message to mortgage borrowers and underlines how committed lenders are to getting things back to some normality as soon as they can.”