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Santander to launch 95% LTV range outside of H2B


Santander is set to launch a range of 95 per cent LTV mortgages without the assistance of the Government’s Help to Buy mortgage guarantee scheme.

Help to Buy 2 is set to finish in 2016, although Santander has confirmed it will continue to lend at this level beyond the life of the scheme.

Santander managing director of mortgages Miguel Sard says: “Help to Buy 2 has achieved its goal ahead of its three year term. The Government’s guarantee scheme has been successful in encouraging lenders to re-enter the 95 per cent LTV space and in giving confidence to prospective borrowers who don’t have a large deposit.

”After almost two years’ lending in the scheme and given the quality of loans issued over the period, we’re ready to extend our commitment to lending up to 95 per cent LTV without the need for government support.”

Santander will stop taking Help to Buy 2 applications on 28 September. All applications submitted by this date will proceed as a Help to Buy loan.

Earlier this week, Nationwide announced it had earmarked £1bn for a new range of 95 per cent LTV loans. Similarly, these loans are outside of any Government scheme.



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  1. George Williamson 11th September 2015 at 1:44 pm

    But as Santander need a minimum 15% Deposit to lend on Flats, you will not be able to use the product anyway.

    In Scotland 99% of all FTB’s will buy a Flat, so Santander has been irrelevant in the FTB market for years – I think the phase “Chocolate Teapot” is the most polite thing one can say about this new product.

    If I am being honest, I just tell clients that Santander are “Institutionally Racist” with there failure to understand the Scottish Market.

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