Lloyds reduces its Help to Buy 1 max mortgage advance.
Lloyds has announced that from today 01 August the maximum it is prepared to advance on its shared ownership, shared equity and Help to Buy mortgage deals is £150,000.
This is a significant reduction from its previous accepted maximum of £500,000.
The lenders advises that the decision was taken to cap its mortgage advances as it currently has a 50% share in this sector of the market. In addition it has decided to concentrate on helping more first time buyers with limited options climb on to the property ladder, it feels this is best done by limiting the amount it will lend to each borrower.
The decision it says is a temporary one and that it remains as committed as ever to supporting the affordable housing market.
If you would like to review your Help to Buy options contact one of our advisers on 0800 048 8828.
We can get you a quote from ALL lenders market wide, deals are compared on a 'like for like' basis and so you can feel confident that you will end up with the best deal on offer for your deposit level.
For impartial advice and a low rate quote,
call today on 0800 048 8828.
