The Guardian - Santander mortgage cap jumps by as much as 24% as bank eases lending rules
Some couples applying for a Santander mortgage will see the maximum they can borrow increase by £130,000 overnight after the bank loosened its lending rules.
Santander is the latest in a line of lenders to allow some borrowers to access bigger mortgages after intervention by the City regulator and new guidelines from the Bank of England designed to help more people on to the housing ladder.
Aaron Strutt, of the broker Trinity Financial, told The Guardian: “Lots of the banks and building societies have made changes to their lending rules recently, but not many of them are offering to provide up to 24% more to borrowers with smaller deposits, even if they are higher earners.”
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