The range consists of products from Near Prime through to Fasttrack. The Near Prime offering allows applicants to borrow up to 90% of the open market value of the property (maximum 80% for flats) with a maximum of £1000 CCJs per applicant. For those applicants looking for a quick re-mortgage option, the Fasttrack product allows applicants to borrow up to 75% loan-to-value (LTV) without the requirement to provide a rent reference. Two-year discounted and fixed rates start from 5.65%.
Commenting on the launch, Clive Willson, head of sales, said: “We are extremely pleased to be extending our product range to include right-to-buy. Once again we have delivered a flexible and competitive product range to our packaging partners to enhance their product offering to their intermediaries.”
Dave Symondson, director of MD Nationwide, commented: “We have long awaited these attractive right-to-buy products from Beacon as it is a key area in which they needed to compete. This development now makes Beacon Homeloans’ product range even more competitive and we look forward to further increasing business levels with them.”
