Mortgage News

Sovereign axes lo-doc lending

Friday 3rd of October 2008
The bank, part of the ASB banking group, is no longer lending on a low-documentation basis. Existing low-doc customers seeking top-up loans will be required to provide full and complete evidence of their incomes. In addition, the maximum loan-to-value ratio on all other products will be 80%.

Sovereign says that it will process loans that have already been fully or conditionally approved und...

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