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Blemain Group announces product changes

Blemain Group has announced changes to its product plans, including maximum LTV reductions, effective immediately.

A 1 per cent rate increase on all term loan and mortgage plans will come into effect and maximum LTVs have been reduced to 75 per cent for Blemain Finance and 70 per cent for Lancashire Mortgage Corporation.

In a statement, Blemain says: “In consideration of the market conditions, our brokers, and to ensure we have the full support of our banking syndicate we have had to react quickly and decisively to implement some immediate changes to our product plans.”

Blemain adds it has “no intentions of withdrawing and is committed to providing competitive products and support to brokers, despite the recent turmoil in the capital market”.

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