After a period of consultation with key brokers, igroup has continued its history of innovation by creating this new product range. Very similar to the existing mainland UK GEM range, the new products have been tailored to fit the requirements of the Northern Ireland housing market. As house prices are generally lower in Northern Ireland, the LTV has been reduced accordingly.
Sean Webb, chief commercial officer said: "This is the first time the igroup brand has had an extensive range of tracker, fixed and discounted products in the Northern Ireland marketplace and the new range has been designed with simplicity, transparency, choice and flexibility in mind. I'd like to pay tribute to the sales, marketing and underwriting teams for all their hard work in ensuring that this product launch was such a resounding success."
To summarise the main features of the new GEM product range:
- Fixed and discounted rates available across the entire GEM product range
- After expiry, the mortgage will switch to a predetermined tracker rate for the entire mortgage term remaining
- No MIG premiums payable, even up to the maximum LTV of 90%
- Product range is available for qualifying self-certification and buy-to-let customers
