M&S Bank enters 95% LTV mortgage market

M&S Bank has extended its maximum LTV to 95% on selected products and is also offering first-time buyers £1,000 cashback and free valuation.

Related topics:  Mortgages
Rozi Jones
17th August 2018
M&S Marks Spencer Bank
"We hope that a greater range of terms across our mortgages and LTVs across these three new products will be a welcome addition"

A two-year fixed rate fee saver product is available at 3.79% and a five-year fixed rate is on offer at 3.99%.

M&S Bank has also increased its maximum mortgage term to 35 years across both its first-time buyer and home mover products.

M&S Bank Mortgages are available through the broker channel via London & Country, Mortgage Advice Bureau and Openwork.

Sue Fox, CEO of M&S Bank, said: “We’ve had a great response to the M&S Bank Mortgage range since launching in January this year, with our first-time buyer range proving particularly popular. But we know a deposit for that much longed for first home is incredibly challenging for most people so, since launching our mortgage range, we’ve continued to look at ways in which we can further support customers realise their home ownership dreams.

“We hope that a greater range of terms across our mortgages and LTVs across these three new products will be a welcome addition, alongside the £1,000 cashback and free valuation we already offer, as well as the facility to purchase with friends or family.”

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