We're aware that the pandemic continues to change the landscape. House price uncertainty and potential rising unemployment all lead to additional credit risks. This means that we continued to assess the situation to protect our members and our Society through uncertain times.
To support our quick return to 90% LTV lending, we added a greater human element to our processes, to reflect the uncertainty that the pandemic created. Our Credit Risk team reviewed a higher proportion of applicants, including checking bank statements and assessing self-employed applicants on an individual basis to review their income in an ethical way.
Henry Jordan, Director of Mortgages, said: '‘I'm incredibly proud of what we've achieved with the 90% LTV journey. Housing is critical to people across the country. Our teams have worked collaboratively and quickly, sometimes against the odds, to deliver a 90% LTV product that's helped thousands of people realise the dream of moving into their first homes.’'