Salt re-launches product range
The move looks to provide improved rates and an enhanced, more flexible lending policy.
In a fiercely competitive marketplace, the lender has extended many of its LTVs to make its products even more accessible to borrowers with a wide range of financial issues.
It has upped the LTVs on its light adverse self-cert products to 90 per cent, while LTVs on both its medium and heavy adverse income verified and self-cert products have been raised to 85 per cent.
Three product ranges have also been launched:
– A “clean” prime self-cert product range, which includes two-year and three-year fixed rate and two-year tracker mortgages with rates starting at 5.70 per cent and LTVs of up to 90 per cent.
– A heavy+ income verified range, which includes two-year and three-year fixed rate and two-year tracker mortgages with max LTVs of 80 per cent and rates starting at 6.65 per cent.
– A fastrack self-cert range, including two-year and three-year fixed rate and two-year tracker mortgages with rates starting at 6.70 per cent and max LTVs of 80 per cent.
Tony Capon, head of sales at Salt, said: “We are delighted to be able to re-launch our entire core range of products, giving non-conforming borrowers more choice and better access to mortgages in these specialist market areas.
“The changes we have made to both our pricing and lending criteria have been thoroughly researched and benchmarked against similar products available and enable us to compete more effectively in these product areas and further enhances Salt's growing reputation as a significant player in the non-conforming mortgage market.”