The exclusives are based on Mortgages plc’s Superlight range and all of them offer a free valuation as well as a cashback of either £500 (for loans of up to £300,000) or £750 (for loans over £300,000). This is paid directly to the client after completion and can be used for any legal purpose.
Products are available from 70 per cent to 95 per cent loan-to-value (LTV) for both purchase and remortgage with a choice on most of proceeding on either a full status or self-certification basis. A wide range of rate options are on offer including one- and two-year discounts, a three-year stepped discount and both two- and three-year fixed rates.
Adverse credit is acceptable across the whole range and includes up to £2,000 of CCJs in the last two years, any number of defaults as well as two arrears within the last 12 months (subject to a maximum of one in the last three months). Additionally, individual voluntary arrangements (IVA) and bankruptcies can be accommodated providing they have been satisfied or discharged for a minimum of one year at the time of application.
Discount rates on these products start from 4.40 per cent (including a 2.10 per cent discount for 12 months from completion) and the longer two-year discounts are made available with rates from 5.50 per cent. The three-year stepped discount option offers initial rates from 4.75 per cent in the first 12 months whilst the fixed products has rates starting at 5.52 per cent for two years from completion or 5.50 per cent for three years from completion.
The rangealso has a ‘no Higher Lending Charge’ (HLC) option, which provides the client with the choice of not paying HLC for an additional rate loading on their chosen product.
John Smith, sales & marketing director for GHL Group, said: “We are delighted to have been given the opportunity of offering this great range of products to our network and we are confident that they will be very well received by our Appointed Representatives (ARs) and Directly Authorised (DAs) brokers alike. Offering a free valuation as well as a cashback, these exclusive products will appeal to a wide audience as they not only provide a low cost way of obtaining a mortgage, but also combine highly competitive rates with generous adverse credit and simple underwriting criteria. We are confident that this mix of features and benefits will ensure we conduct a high level of business on these products.”
