Halifax is set to re-enter the 90% LTV first-time buyer market from 8 December.

According to the lender, the products will not be applicable on new build properties or housing schemes.

The product has a maximum loan-to-income ratio set at times 4.49, and the maximum loan amount is £500,000.

Halifax: Confidence in housing market declines

Furthermore, the lender will be applying an enhanced credit score requirement for applicants.

As part of this, Halifax will deduct any credit card commitments as ongoing in its affordability calculation.

Halifax outlined that if an applicant needs to increase their LTV above 85% on an application that has already been submitted, then they will be subject to the new criteria.

Additional criteria and further details will be made available on 8 December.

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