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Salt to increase fixed rates on sub-prime range

Salt has emailed brokers to alert them that it will be increasing its fixed rates on its sub-prime range from November 28.

It says that all fixed rates have been repriced and maximum loan to values for ‘status’ and ‘self-cert’ reduced for near prime to heavy categories.

Maximum first time buyer self-cert LTV has been reduced from 90 per cent to 80 per cent.

Maximum loan on self-cert has been reduced to £500,000.

Salt says that this is due to recent market changes.

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