KBC Homeloans Announce New Criteria
The mortgage market in Ireland received a welcome boost recently, with the announcement that KBC Homeloans have revised their maximum loan to value ratio for first time buyers and trader-uppers to 90%. Prior to this their maximum loan to value was 80% and although the change is limited to lending in urban areas only, it is still a very welcome development.
Apart from this major change, the bank announced some other changes, which will allow some borrower categories, especially medical professionals, borrow a little more as they factor in somewhat more of their additional payments, i.e. allowances, overtime, etc, than the general market.
As KBC Homeloans source their business mainly from mortgage intermediaries, all mortgage brokers will welcome this announcement. The changes take place with effect from 1st of October, 2010.
Frank Lenny