With house prices being generally lower in Northern Ireland, the LTV has been reduced accordingly.
The main features of the new GEM product range include fixed and discounted rates available across the entire GEM product range. After expiry, the mortgage range will switch to a predetermined tracker rate.
For the entire mortgage term remaining no MIG premiums are payable even up to the maximum LTV of 90 per cent and the product range is available for qualifying self-certification and buy-to-let customers.
Sean Webb, chief commercial officer at igroup, 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.”
Tony Corrigan, managing director of Classic Network Solutions, which deals extensively with brokers from Northern Ireland, said: “At long last lenders are opening up to the delights and possibilities of what Northern Ireland has to offer. It is a stable and growing market place with many opportunities for both brokers and forward-thinking lenders.”
Corrigan went on to say that with increased competition for market share among lenders, Northern Ireland was still a relatively untapped market.
