This follows its acquisition by specialist finance provider, Paragon Group, in June this year.
Mortgage Trust will be an intermediary focused, specialist mortgage provider, operating exclusively in the buy to let sector. Its primary area of focus will be the provision of flexible lending solutions for small landlords who are building property portfolios.
Mortgage Trust's buy to let loans will be competitively priced and fully flexible.
The initial offering will include:
· 2-year discounted rate at 4.40%
· 3-year discounted rate at 4.64%
· 1-year fixed rate at 4.69% (fixed until 31/12/04)
Along with attractive rates Mortgage Trust prides itself on its flexible approach to lending. The agreed reserve fund, for example, allows borrowers to agree a loan value in excess of the amount they need at the time of completion. This excess can then be used as and when needed, e.g. to fund a further property purchase.
Commenting on the launch of Mortgage Trust, John Heron, Group Director of Mortgages, said:
"The new Mortgage Trust is well positioned to benefit from the growing buy to let sector. It will offer flexible, competitive products and exceptional long-term value. Providing outstanding service for both intermediaries and borrowers, our dedicated and experienced team will ensure a speed and ease of transaction that is second to none. The brand will provide commitment, outstanding service, and a flexible approach to lending - all in all a relationship to rely on."
Heron is overseeing Mortgage Trust's business strategy.
