The lender confirmed it had completed its first cases, ahead of schedule, using its patented Property Assessment Service. The lender is currently operating through a select panel of partners and has plans to roll out to the whole of market within the next few weeks.
Its non-conforming range offers up to 90 per cent loan-to-value (LTV) and offers the facility to cascade both up and down. Its self-certification option is also available at up to 90 per cent LTV, has a maximum of £2 million loan and is affordability based, while its buy-to-let (BTL) range allows for investments of up to 50 properties.
Commenting on the launch, Alan Cleary, managing director at edeus, said: “We’ve jumped our own gun and completed our first mortgage ahead of schedule. It all goes to show that edeus is ready to take the market by storm.”
Cleary confirmed the lender would be highlighting further details of its mortgage products and services over the coming weeks, as part of its nationwide tour to inform intermediaries of edeus’ service.
Michael Bolton, chief executive at edeus, said the firm’s ability to release remortgage funds in a five day period was of significant importance. He said: “The step change offering remortgage funds in five days means we have the fastest funds release currently in the market.”
Melanie Bien, associate director at independent mortgage broker Savills Private Finance, said: “We are very excited about working with such a highly experienced team who thoroughly understand the non-conforming and specialist mortgage sectors. From what we have already seen, there will be some very competitive buy-to-let and self-certification products. The buy-to-let products in particular look to be very well priced and are likely to be very popular with our clients.”
