As part of the deal, key partners will have:
Lower initial rates – 99 rates lower than First National standard range
Improved reversionary rates
Improved early repayment charges
Limited Offer - £500 off completion fees promotion
In addition to the semi-exclusive offer, GE will also be promoting to all of its intermediaries a limited offer by reducing the completion fee from £599 to £99 on First National products with a loan-to-value (LTV) up to 85 per cent. The offer will be available for a limited period and excludes First National’s semi-exclusive Prime range and all other products with an LTV of 85 per cent or above.
Judith White, national sales manager, GE Money Home Lending, said: “We have seen a huge growth in our branded lending business and First National has been working closely with its existing key partners to develop its semi-exclusive product range. These changes and the signing of Genesis, Praxis and LMS as new key partners reinforce First National’s commitment to the packager community. Our offer of a £500 reduction in completion fees, coupled with a reduction in initial and reversionary rates and improved ERC terms will make this offer compelling. We are looking forward to working with all our key partners going forward and are confident that there will be further exciting developments over the coming months.”
