FT Advisor: Santander product changes 'step in the right direction':

From tomorrow (April 9th), Santander will be changing LTV limits for large loans, increasing the LTV from 75 per cent to 85 per cent for loans over £1mn and up to £2mn.

To support the changes, the lender is also increasing the maximum loan size on selected residential fixed-rate products, including new builds.

This was a sentiment Harps Garcha, Brooklyns Financial director said: "These are positive criteria changes to Santander's criteria, especially in the £1mn plus mortgage market.

"These tweaks will not help the mass market, but they will certainly assist a number of potential homeowners, particularly in the South East."

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