The exclusive named “Light Touch” due to its acceptance of up to £2.5k in CCJ’s and 2mths of arrears is only available via Mortgage 2000’s direct to lender proposition m2-mortgage club.
Universal Building Society are new to both the sub prime and the exclusives market so understandably m2-mortgage club is delighted to be the chosen distribution channel to help launch the lender into the arena.With an initial pay rate of just 5.84 per cent this is sure to grab the attention of intermediaries looking for a light adverse product and a lender with renowned service standards, but if it doesn’t then surely the cashback of £250 and free valuation (subject to max) will.
Chris Burton, product manager for Mortgage 2000, commented: “I am enthusiastic about the launch of this product as it brings a new element to m2-mortgage club. By working with provincial lenders like the Universal BS, as well as normal high street providers I hope to produce an unbeatable range of exclusive products in the market.”
Burton continues: “The Light Touch Exclusive allows those who have just missed out on a prime product get back on the property ladder with a competitive rate and I’m sure a much appreciated cashback.”
Anticipating a successful launch with m2-mortgage club Kevin Robinson, Chief Executive of Universal Building Society, said: "We understand how important it is to deliver appropriate mortgages for all situations and we feel the Light Touch Discount mortgage is yet another good quality choice, especially for people who have had to face financial difficulties in the past."
The product also comes with an attractive intermediary fee that carries no min or max at 0.55 per cent.
