Bristol & West 'improves' mortgage lending criteria

19-Oct-2006

Potentially helpful to first time buyers, Bristol & West has announced its decision to improve the lending criteria on its First Start and standard range.

The mortgage lender has announced these changes as part of its commitment to making its products more competitive for both first time buyers and repeat borrows.

As part of its package of changes, income multiples are now up to 4.5 times an individual's income plus a second applicant's income; joint purchases are based upon four times the joint income.

Standard mortgages now have a maximum 95 per cent loan-to-value (LTV) limit of £300,000; First Start mortgages, with a LTV of 100 per cent, have a maximum limit of £350,000.

"Bristol & West Mortgages has a good reputation for competitive products and now our criteria changes will make them accessible to many more clients," said Mark Howell, head of marketing at Bristol & West Mortgages.

In addition to mortgages, Bristol & West also offers a range of savings and investment products.

To find out about how to buy a brand new home with an extraordinary deal for first time buyers, click here.

As the market for first time buyers toughens, new companies are offering new services to help first time buyers buy new properties by working with the house-builders.

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