The deals, available from 1March, are available across its prime mortgage range includes Full status, Self cert, Let to buy and Buy to let.
The fixed rate mortgages, which have rates starting from 4.98% have no overhanging ERCs.
The new Buy to let (rental income) fixed rates require rental cover of just 125% at the pay rate chosen
Freedom Lending has also made further enhancements to its product range including:
- Standard Adverse: enhanced criteria, including a new ‘unlimited CCJ and arrears’ category
- On-Track: reversion tracker rates reduced and criteria enhanced
- Buy to let (rental and earned income): new 2 and 3 year discounted rates with no overhanging ERCs and no HLC
- Free legal fees available on remortgages – now including Scotland
- Increased overpayment allowance up to £5,000 per annum with no ERC incurred – available on all products
- Capital raising for non business purposes now available up to product maximum LTV on Prime: Full status, Self cert and Buy to let
Colin Snowdon, managing director , Freedom Lending said: “The continuing low interest rate environment means borrowers are still happy to lock into fixed rates. This is the first time Freedom Lending has marketed fixed rate mortgages and we have worked hard to ensure our range stands up to close comparison with the best in the market. 2 year fixes continue to be the most popular category and our product comes with the added benefit of no overhanging early repayment charges. Our Buy to let (rental income) 2 year fixed rate product also requires a rental calculation of just 125% at the pay rate.”
“We have also taken the opportunity to introduce further enhancements to our range including enhanced adverse criteria, a new ‘unlimited’ category on our standard adverse mortgages, increased overpayments allowance and the availability of capital raising for non business purposes up to the product maximum LTV on our prime residential and buy to let mortgages.”
