Money Partners launches mortgage range
The new range extends across four core product bands:
Designed specifically for customers with a near prime credit profile. One-year discounts start at 3.99 percent, and three-year fixed rates start at 5.24 percent. The maximum LTV is 90 percent for employed and self-employed borrowers including employed first-time buyers.
Aimed at borrowers with a light or past adverse credit history, one-year discounts start at 4.35 percent, with three-year fixed rates starting at 5.45 percent. The maximum LTV is 90 percent for employed and self-employed borrowers including employed first-time buyers.
For customers with a medium adverse credit history (between two and four missed payments in the past twelve months), one-year discounts start at 4.69 percent and three-year fixed rates at 5.74 percent. LTVs are available up to 90 percent for employed and self-employed borrowers.
A new heavy adverse product with starting rates for one-year discounts of 5.59 percent and 6.59 percent for three-year fixed rates. There are no sub-prime loadings, and a maximum LTV of 85 percent is available to employed and self-employed borrowers.
Money Partners’ buy-to-let and right-to-buy options are available across its entire range of fixed, discount and variable rate products. No rate loading is applied to either option. The maximum LTV is 85 percent in both cases.
In addition, Money Partners has introduced a new Mini Mortgage option for mortgages of between £10,000 and £25,000. The one-year discount option starts at 6.19 percent and the three-year fixed at 7.24 percent.
Money Partners does not charge Higher Lending Fees on any of its products.
Adam Henry, sales and marketing director, said: “In our first eighteen months of trading we have established ourselves as one of the fastest-growing lenders in the specialist sector. Having broken through £1 billion of new lending some while ago, we have set ourselves a tough but achievable target in 2006.
“The new Origin range of mortgages has been designed with this in mind. We’re very pleased with the result and, as ever, will be engaging closely with our broker partners to ensure we derive maximum mutual benefit.”