SL: TEACHERS Launch AVMs on residential up to 80% LTV

Making ends meet - with our short term no ERC borrowing solutions
Helping your client buy their next home is just as important to us as it’s always been.Our BDMs, underwriters and support teams are offering the same level of help with the home your client has found, from the safety of theirs.

 

“We’re very much open for business and our mortgage range for both purchases and remortgages has remained available across all LTVs – we’ve continued to process applications and take cases through completion” – Keith Hannibal, Head of Lending.

Making ends meet - with our short term no ERC borrowing solutions

And in partnership with Legal & General Surveying Services (LGSS), we’ve launched ‘Digital Valuations’:

 

•      Max LTV 80% for properties <£1m in value

•      Max LTV 60% for properties on estimated values between £1m and £1.5m

•      Max Loan Size £750K

•      Max Property Value £1.5m

•      Not available on New Build Property

•      Not available on Buy to Let

For properties over 80%, or where a digital valuation is not possible, our approach is to progress through full underwriting then put on-hold pending valuation.

Making ends meet - with our short term no ERC borrowing solutions

• Total property value: £4,500,000*

• Total loan: £2,100,000

• Lending based on existing holiday let rental income

• Funds deposited with Society as security to cover mortgage payments in the short term due to impact of COVID-19 on tourism

*based on physical valuation

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