Category: Remortgaging

Product transfer rates were 1.7% lower than seen in 2018.

The Which? Financial Services operation sent out a note to its key partners today, which has been seen by Mortgage Introducer.

The rate is 1.39% and there’s a fee of £1,250.

Members of the club will have immediate access to Newbury’s wide range of solutions including products for first-time buyers, those looking to remortgage and those in shared ownership properties.

The lender’s average monthly loan originations were in line with the second quarter of this year and up 20.5% on the same period last year, while origination LTVs remained conservative at 58.0% and principal losses very low at less than 0.1%. 

The report also revealed that remortgage business continued to see growth which has been seen consecutively for 12 months.

They include two buy-to-let products for purchase and remortgage, a 5-year fixed rate at 2.09% to 60% loan-to-value and a 5-year fix at 2.49% to 75% LTV, both with £995 fees. The rest are residential.

The changes will be on selected core and semi-exclusive residential products.

This option will be available to new and existing borrowers up to 75% LTV.

Ranson joins from Equifax where he was chief marketing officer for Europe. Ranson will lead the development and capabilities of Freedom Finance’s app, which will aim to removes complexity from applications.