Available at 7.75 per cent, the product is available up to 85 per cent loan-to-value (LTV). CCJs are accepted, with Bananas Inc allowing up to four missed mortgage payments as part of the Beacon funded venture. A procuration fee of 1 per cent exists on the product, with an arrangement fee of £795.
Freedom completes sale
Freedom Lending has completed a £20 million portfolio sale to Crocus Homeloans, a subsidiary of Saffron BS.
The portfolio comprises a mix of self-certification, buy-to-let and Freedom Lending’s ‘On-Track’ credit repair mortgage loans.
Richard Spinks, director of risk at Freedom Lending, said: “We’re delighted to have completed this portfolio sale with Saffron Building Society. We are also keen to identify additional potential buyers who would be interested in purchasing portfolios of this type.”
