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29 Feb, 2008

Tanya Powley - 29-Feb-2008

Cheltenham & Gloucester has become the latest lender to pull out of the 100 per cent loan to value market.
This comes after the market for 125 per cent mortgages disappeared last week.

C&G says it will no longer offer 100 per cent mortgages and has reduced its LTV to 90 per cent.

The lender has said before that its 100 per cent mortgages only represented a tiny part of its business.

Parent company Lloyds TSB will still offer 95 per cent mortgages due to the fact that the majority of its mortgages are to the bank's own customers so it has a more complete picture of their financial affairs.

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