The Cambridge Building Society has up to date its standards and eliminated the utmost height limit on new-build blocks of flats to offer new-lending alternatives for brokers and members.
The change means The Cambridge now affords 80% loan-to-value (LTV) for residential and buy-to-let (BTL) lending on high-rise residences over eight storeys excessive offering they have been constructed after January 2020.
The new coverage removes the earlier cap of eight-storey buildings to provide debtors and brokers extra choices.
The Cambridge enterprise improvement supervisor Duncan Turner says: “In bigger cities and rising communities, excessive rise residential properties are serving to to handle the UK’s housing wants.”
“By altering our standards and eradicating the cap on the height of new-build blocks of flats, we’re offering extra alternative and adaptability to our brokers and to our members to assist extra individuals have a house.”
Earlier this 12 months, The Cambridge eliminated utility charges from all its mortgage merchandise to make it simpler for members and brokers.
