29 September 2017
Teachers have increased their maximum loan size.
In light of houses prices in the UK remaining high, especially in London, the South and the South East, and following feedback from intermediaries, Teachers have amended the maximum loan amounts available on mortgages – ensuring your customers can borrow up to £1,000,000 on mortgages up to 60% LTV.
The changes also ensure those looking to borrow up to 80% can now borrow up to £750,000 – an increase from £350,000 previously.
New Maximum Lending Table:
LTV Maximum Loan Amount*
60.01 – 80 750,000
80.01 – 90 450,000
90.01 - 95 350,000
*Subject to affordability assessment.
Minimum property value without prior referral is £60,000.