Money Partners revamps product range

The changes include:

Discount products

• Three-year discount mortgage - a product offering a discount element of 1 per cent throughout the full discount period. Rates start at 5.09 per cent and there is no extended early redemption charge (ERC) period.
• Two-year discount mortgage - the discount element is increased to 1.25 per cent throughout the full discount period. Rates now start at 4.84 per cent, and there is no extended ERC period.
• One-year discount - ERC period reduced.

Fixed-rate products

• Two-year fixed rates reduced giving starting rate of 5.19 per cent.
• Three-year fixed rates reduced giving starting rate of 5.29 per cent.

Money Partners is also offering brokers and customers a "Summer Special" incentive by removing its fixed-rate funding fee of £195 on all cases processed on the new fixed rate plans. The offer is available until 1 September 2006.

Adam Henry, Money Partners' sales and marketing director, said: "Following the rebranding and repositioning of our mortgage products earlier this year, we decided the time was right to improve them further. With fixed rates generally moving up, we wanted to provide our brokers with a competitive offering for their more price sensitive clients. Our new discount range achieves this by offering highly attractive rates and no overhangs on the most popular options. To complement this, we have reduced our fixed rates at a time when many lenders have withdrawn theirs altogether. This gives our brokers an attractive solution for clients who require peace of mind through financial certainty."