Smaller deposits are acceptable again

November 20, 2009 12:51 pm by Ellen Kelleher

Melanie Bien, director of Savills Private Finance mortgage brokers and a trusted contact, is always a good source to turn to with questions on mortgages.  In an email, she notes that RBS, Coventry Building Society and other lenders who are keen to ramp up business are introducing more flexible deposit requirements.  Excellent news for those of us with pitiful bank balances.

There is more happening at high LTVs with RBS launching its 90 per cent deals today….And Coventry BS introduced measures this week to allow existing borrowers with a maximum LTV of 125% to move home….The measures will apply to existing customers who have an “excellent credit history”, but have been unable to move home as lower house prices have pushed down the level of equity they have available….

Read more on the deals in Tanya Powley’s articles on RBS and on Coventry.

Posted in Mortgages, Personal finance |
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Lucy Warwick-Ching is the FT’s new Money Online Editor and has been a UK Companies reporter covering tobacco, pubs and leisure companies as well as the deputy editor on House and Home.

Matthew Vincent is the FT’s Personal Finance Editor and was previously the editor of Investors Chronicle, where he also devised the award-winning online video The Market Programme, and produced the BBC-FT standalone magazine ‘How to be Better Off’. He presents the weekly FT Money Show audio podcast, and previously worked on the BBC TV programmes Short Change and Pound for Pound.

Alice Ross is deputy personal finance editor of FT Money. She specialises in pensions, investments and investment trusts. Alice joined FT Money in April 2008 - prior to that she was deputy editor at Money Management magazine.

Ellen Kelleher has been a personal finance reporter in the UK for close to four years. Before arriving in London, she worked in the FT's New York bureau where she covered the insurance sector.

Steve Lodge is a personal finance reporter on FT Money specialising in savings.


Josephine Cumbo has written about all aspects of personal finance but currently specialises in insurance. She also covered company news for FT.com. Prior to working at the FT she was a news reporter for the ABC.

Tanya Powley is a personal finance reporter on FT Money specialising in mortgages and the housing market. Tanya joined FT Money in November 2009 after working in Australia covering personal finance for the Australian Financial Review and its sister magazine Asset. Prior to that, Tanya wrote about mortgages for UK trade newspaper Money Marketing.

Jonathan Eley is editor of Investors Chronicle, and has been with the title for ten years. Before that he worked for newswires and trade journals in London, New York and Hong Kong.

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