First National enhances Network Data product range

Amanda Jarvis

April 28, 2006

The benefits of the new products are:

·         Low initial rates starting from 4.49 per cent for the new First Time Buyer+ range and 3.99 per cent for the new Near Prime+ product

·         A 60 per cent LTV band with lower rates

·         No ERC overhang on the two and three year fixed rates

·         Nine risk bands, offering even more choice 

·         Defaults will be ignored on Ultralight, Light to Medium, Medium and High products.

The announcement signifies further growth in the strong relationship between the two companies. GE Money Home Lending blends its size and experience with Network Data’s position as one of the UK’s leading intermediary distribution channels to provide specially designed products and service efficiency to its brokers.

Judith White, national sales manager, GE Money Home Lending, said: “First National and Network Data have developed a strong relationship over the past few years, strengthened further with the deployment of an onsite underwriter last year.  By introducing a range of products along with a branded calculator and branded KFI, First National is further demonstrating its commitment to the packager community and there will be further exciting developments over the coming months.”  

George Fleming, lender partnership manager at Network Data commented; “We are delighted to be working with First National in further developing our product and service proposition for our appointed representatives and directly authorised brokers.  We have been impressed with the commitment shown by First National and feel that with the launch of this branded product range, with the rate reductions and criteria improvements, together with the planned future developments over the coming months that we will continue to grow the volumes of business written with them.”

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