Future Mortgages curbs loans to 90%


Future Mortgages, the specialist lending arm of Citigroup, has decided to restrict lending to 90% LTV on secured loan applications.

The news follows the resignation of Citigroup’s chief executive, Charles Prince, at the beginning of this week after the group suffered heavy losses from bad sub-prime debt. Future Mortgages says it has received intense demand for its products, partly due to a new product range and online decision technology, but also as a result of other sub-prime lenders withdrawing their product ranges, driving customers to the few lenders still offering risky loans. Future says many of the cases it has received since July have been for higher LTV loans and says restricting its maximum LTV is the prude...

To continue reading this article...

Join Professional Adviser

  • Unlimited access to real-time news, industry insights and market intelligence.
  • Stay ahead of the curve with spotlights on emerging trends and technologies
  • Receive breaking news stories straight to your inbox in the daily newsletters.
  • Make smart business decisions with the latest developments in regulation, investing retirement and protection.
  • Members-only access to the editor’s weekly Friday commentary
 Be the first to hear about our events and awards programmes.



Already a Professional Adviser member?


More on Mortgages

Client conundrum: Mortgage overpayments versus investments

Client conundrum: Mortgage overpayments versus investments

1.4 million people will see mortgage deals end this year

Laura Suter
clock 22 February 2023 • 3 min read

Summer economic update: Sunak confirms stamp duty holiday in 'mini-Budget'

Mini Budget

Hannah Godfrey
clock 08 July 2020 • 2 min read

FCA sounds alarm on equity release advice

'Tick-box exercise'

Hannah Godfrey
clock 17 June 2020 • 1 min read