Belfast Telegraph

Monday 21 April 2014

Alliance & Leicester cuts mortgage deposit

Alliance & Leicester announced that it was reducing the size of the deposit borrowers need to qualify for its best mortgage rates.

The group is increasing the loan-to-value ratios on its leading tracker mortgages from 60% to 70%, while the minimum deposit needed for its best fixed-rate loans is being reduced from 35% to 30%.

A further sign that mortgage lenders are loosening lending criteria.