The product rates will include new two and three year fixed rates across the whole of the range. The current two year base rate tracker pricing is also being revised.
Other new initiatives include an increase in gross procuration fee paid to packagers from 2% up to 2.5% on the Medium range through to the Unlimited range. In addition a 0.25% bonus will be paid for fully packaged cases received before 13 October 2006 on the above adverse categories.
The products will also be available for sourcing on the Mortgage 2000 and Place Me sourcing systems, in addition to the Trigold and Mortgage Brain who hold the details at present.
Mark Bergin, director of sales and marketing said, ‘’ We are delighted to launch this range of competitively priced products combined with an increase in procuration fees. When you consider that we provide up to 90% on both self certification and buy to let (income based and self financing) alongside a comprehensive range of adverse products, this makes our offering even more attractive. ’’
