Lender flooded with requests for payment holidays while valuers unable to inspect properties due to coronavirus
Halifax, the UK’s biggest mortgage lender, has withdrawn the majority of its mortgage range, including all first-time buyer loans, citing a lack of “processing resource”.
In a message sent to mortgage brokers this morning, Halifax said it would no longer offer any mortgages with a “loan-to-value” (LTV) of more than 60%. In other words, only buyers able to put down a 40% deposit will qualify for a loan.
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