House price search
Enter your postcode here to find out how much your property is worth, based on Land Registry data.
RSS Feed
Daily news
C&G reins in lending
29 February, 2008
Cheltenham & Gloucester (C&G) has cut the maximum loan-to-value on its products back to 90 per cent.
The lender said that the move was part of its 'prudent approach to lending,' adding that the ranges which had been withdrawn or had their maximum LTVs reduced only accounted for a tiny part of its overall business.
The lender is now refocusing efforts on its core business.
C&G also apologised from giving intermediaries 'less notice than ususal' after informing them of the developments on Thursday, for a withdrawal that evening.
Withdrawn ranges include a 1.5, two, three and five-year fixed rate option, two-year and full-term tracker rates, two-year tracker rate plus and five-year fixed rate plus - all with LTVs at 95 per cent or above.