The new product is available up to 80% LTV from 8.83%
First and second charge lender Central Trust has added a new one-year residential fixed rate option to its product offering.
The one-year fixed rate is available up to 80% loan-to-value (LTV) with an early repayment charge of 1% applicable for the year. The minimum and maximum loan sizes are £10,000 and £250,000 respectively.
The product, with a rate that starts from 8.83%, is offered across England, Wales, Scotland and Northern Ireland.
Available for first charge mortgages, as well as second charges, including across the lender’s consumer buy-to-let (CBTL), family let and let-to-buy ranges, the new product has been introduced to provide borrowers with a wider range of lending options in anticipation of improved market conditions and lower rates in 2024.
“As consumers continue to navigate an economy of uncertainty, we hope that a one-year fixed rate product will provide certainty of payment,” Maeve Ward (pictured), commercial operations director at Central Trust, commented. “It also offers the freedom to leave for those who are more optimistic about further rate rises and the possibility of rates settling down over the next 12 months.
“It allows clients to borrow with confidence, restructuring their finances or enhancing their property with a view to remortgaging without penalty. 2023 continues to be a year of continuous evolvement for Central Trust as we strive to support those otherwise underserved, extending our reach as far as possible.”
Central Trust was named the year’s top Secured Loan Lender at the Mortgage Introducer Awards 2022.
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