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Halifax returns to 90% FTB lending

Halifax will be offering 90 per cent LTV products for first-time buyers as of 8 December.

The lender says that the product will only be available for First Time Buyers (FTBs) and that new build properties will not be included, along with any schemes.


The maximum loan to income ratio is set at times 4.49 and the maximum loan amount, £500,000. Halifax will also be applying an ‘enhanced’ credit score requirement for all applications.


As well as this, the lender will be deducting any credit card commitments as ongoing in its affordability calculation.


Further criteria and other details will be made available by 8 December, Halifax says in a note to brokers.


Lloyds Banking Group managing director, consumer and business banking Jasjyot Singh says: “We are committed to helping people take their first step on to the property ladder and while there have been record levels of mortgage approvals over the past few months, raising a deposit is still hands down the biggest challenge for first-time buyers.


“Reintroducing options at higher LTVs means we can support more people ready to get a foot on the ladder. We will monitor service levels to make sure we continue to be there for our customers.


“We also relaunched our Lloyds Bank Lend A Hand mortgage last month which enables first-time buyers to borrow up to 100 per cent of the mortgage with the support of their family.”

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