28/03/2024
Santander UK has recently announced an increase in the maximum loan-to-value (LTV) for new-build houses and flats. This move, launched on Tuesday, 27 February, allows prospective homeowners to secure a mortgage with just a 5% deposit, making it easier for those looking to enter the property market.
Image Location: Kilnwood Vale
This development is particularly beneficial for companies like Devine Group, who specialise in providing the essential infrastructure and groundwork for new build houses. The increased LTV provides aspiring homeowners with an improved opportunity for home ownership, leading to increased demand for the construction and infrastructure projects managed by Devine Group.
Devine Group, with over 50 years of experience, is no stranger to the housing market. They have collaborated with well-known house builders, including Persimmon Homes, Vistry Group, Crest Nicholson, Taylor Wimpey, Thakeham Homes, Barratt Homes, and Bellway Homes. This new approach aligns with Devine Group's commitment to supporting the housing market and contributing to developing quality homes.
Nigel Jordan, Managing Director at Devine Group, commented, “Santander's initiative not only benefits aspiring homeowners but also positively impacts us at Devine Group. By facilitating easier access to financing, it enhances our ability to undertake more construction and infrastructure projects.”
Santander UK's decision to offer a 95% LTV for new-build houses and flats sets it apart as the only top-six lender in the UK providing such opportunities through all builders and brokers. This move aims to make homeownership more accessible and attainable, fostering a positive environment for both homebuyers and companies like Devine Group, who are involved in building the foundations for new homes.
ABOUT DEVINE GROUP
Devine Group is a privately owned Group of Companies established in 1974. Every successful business needs a solid foundation to build from. In June 1974, the owner and Chairman, Mr Jim Devine, set out to create a Group of Companies based on a rock of financial stability. Minimal debt, cash reserves and an attitude to continually reinvest back into the business. Our core business elements are Infrastructure, Groundwork, Plant Hire, and Development.
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Devine Group is a privately owned Group of Companies established in 1974. Every successful business needs a solid foundation to build from. In June 1974 the owner and Chairman Mr. Jim Devine set out to build a group of companies based on a rock of financial stability. Minimal debt, cash reserves and an attitude to continually reinvest back into the business. Our core business elements are Infrastructure, Groundwork, Plant Hire, Development.
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