Santander launches 98% mortgage with restrictions
Original Article Summary
Santander has introduced a mortgage allowing first-time buyers to borrow 98% of a property's value, though the product excludes flats, new-builds, and self-employed buyers. The £500,000 lending cap and requirement to earn over £112,000 for maximum borrowing may limit accessibility in higher-priced regions. The post Santander launches 98% mortgage with restrictions appeared first on PropertyWire.
PropMatch Curated Analysis
Santander launches 98% LTV mortgage for first-time buyers with significant restrictions including £500,000 cap, no flats, and 4.45x income limit. The product signals broader market movement towards higher LTV lending but may have limited practical impact due to constraints.
Investor Relevance
Helps investors understand evolving buyer financing options which affects acquisition strategies and market demand. The restrictions on flats and income limits provide insight into which property types and price points may see increased buyer activity versus continued constraints.
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