The company has revised the rates on some of its two and three-year fixed rates. Following the changes, the residential fixed rate loans start from 5.54 per cent for the near-prime two-year fixed rate at 70 per cent loan-to-value (LTV).
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Other revised ranges include the two-year fixed light adverse 75 per cent LTV product, available from 5.89 per cent for applicants with CCJs of up to £3,000 and two in 12 arrears. Also in the light range is the three-year fixed adverse 80 per cent LTV product at 6.04 per cent.
The three year fixed minor adverse, for applicants with CCJs of up to £1,000 and one-in-12 arrears, includes an adverse 80 per cent LTV product at 5.94 per cent. Its three-year fixed fast-track 75 per cent LTV product is available at 6.99 per cent and allows unlimited CCJs and arrears and considers applicants with satisfied Individual Voluntary Arrangements and bankruptcies.
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Clive Willson, head of sales at Beacon Homeloans, said: “At Beacon we are dedicated to offering our packager partners competitive products that stand out in the non-conforming sector. With our wide reaching criteria and flexible product options we are certain that these newly priced products will prove very popular.”
Steve Brockman, director of A2B Mtg Co, said: “Perhaps it’s not getting the volume of business in, so it’s effectively trying to buy it in. In response to other adverse lenders changing their products, it has followed suit, and it is all of benefit to the customer.”
