Funded by Freedom Lending the product incorporates the following step discounts:
Year 1 – 1.75%
Year 2 – 0.6%
Year 3 – 0.3%.
Pay rates are tiered dependent upon LTV and level of adverse credit. There are no overhanging early repayment charges on the entire range. Coupled with Procuration Fees of up to 1.10% this makes this product range a very exciting prospect indeed.
Alan Collinson, Head of Lender Relationships, Mortgage 2000 commented: “By forging good relationships with innovative product providers such as Freedom Lending, Mortgage 2000 continues to be one of the most powerful players within the intermediary market. This is a great product, with great interest rates and great broker fees.”
Colin Snowdon, Managing Director, Mortgages Intermediary Business, Freedom Lending addded: “We’re delighted to be launching our new non-conforming 3 years stepped discounted range through Mortgage 2000. Rates are market leading, with no overhanging early repayment charges and the product criteria is based on our very successful On-Track range, giving intermediaries a very clear and well structured range from light to heavy adverse.
"All Freedom Lending products are linked to Bank Base Rate, so the recent 0.25% reduction makes our products even more competitive. With possible further rate cuts, we expect variable rate products to come back into fashion very quickly”.
The product will be available on all major sourcing systems and applications can be submitted through the following Mortgage 2000 channels:
m2-mortgage club - direct to lender offering
m2-d - packaging arm
Casemaster - the remote online processing system.
