Initial LTV loan offers will be fixed at 6.1 per cent for two or three years and neither of the Future Mortgages products contain extended early repayment charges, which attempt to tie in borrowers beyond the fixed rate term.
Ken Horsburgh, head of sales at Future Mortgages, said: “The launch of the 100 per cent range is confirmation that Future Mortgages is committed to building a broad product portfolio with a service proposition to match. We continue to work with our business partners to ensure that our products are attractive and our service experience is positive. Our strategy is to expand our product range at a pace that enables us to match volumes with service capability.”
Features of the Future Mortgages range include:
- 100 per cent LTV with minor adverse tie-ins and no extended tie-ins
- No higher lending charges
- Buy-to-let to 90 per cent LTV and rental cover from only 100 per cent of the mortgage value
- Variable rate products with no early redemption charges and no-tie-ins
- Subject to credit score, Future Mortgages ignores:
ß CCJs three years old or more
ß Satisfied CCJs,
ß CCJs with a cumulative value of less than £250
ß Defaults
To make quick underwriting decisions and meet service expectations, Future Mortgages will initially only be accepting business through its packager channel, and will return any incomplete applications. Authorised brokers will be able to access their applications through one of Future Mortgages packagers.
