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DB Mortgages product changes mean it will not honour previously accepted DIPs

DB Mortgages has introduced a higher credit score pass threshold for all new business as well as capping maximum sub-prime loan to values at 75 per cent.

The changes mean that there is a high chance many applications will not pass the new strict credit scoring system that DB Mortgages has put in place.

The changes to its product range means that all previously accepted DIPs now require re-submission. But the lender says that all future DIPs will be valid forr 30 days and offers for 60 days.

DB Mortgages says that all offered business will not be affected.

The lender has capped maximum LTV for self cert at 75 per cent across all products. The maximum LTV for full status near prime+, near prime and super light is now at 90 per cent.

The maximum loan size for all products is £250,000.

This follows recent changes by DB Mortgages where it withdrew its higher arrangement fee near prime+, near prime and super light products.

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