GE revamps product range

Kay McLellan

June 6, 2006

The enhancements include:

  • Removal of self-certification loadings for Firtst time Buyers (FTB)+ to light products inclusive up to 85 per cent Loan to value (LTV)
  • Rate reductions on the Ultralight range, with rates starting from 4.29 per cent
  • Reversionary rate reductions up to 75 per cent LTV

The revamp will also provide several additional features, including:

  • Increased self certification proof of income thresholds across the range
  • Self-Cert self-employed trading period removed (reduced to three months above income threshold)
  • Proof of residence reduced to 12 months
  • Inclusion of carers allowance as an accepted income

Duncan Berry, director first mortgage sales, GE Money Home Lending, said: “This refresh reflects GE’s appetite to expand its presence beyond First National’s traditional strengths around affordability, First Time Buyers and 95 per cent deals. The focus here is on attracting more self-cert and lower LTV business, and over the next few months we are planning additional changes to ensure our customers have a comprehensive range of highly-competitive products.”

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