Considering that many borrowers are now coming to the end of previous fixed rate mortgages, people are looking to fix payments again for the foreseeable future – fuelled by rising interest rates and continued house price inflation
The new products come with a free valuation, free legal fees for remortgage, no Higher Lending Charge or extended Early Redemption Charges, and are available to discharged bankrupts and those with IVAs. Remortgages are also available and accommodate borrowers who may have missed up to their last four payments.
The Light Adverse loan is available up to 90% LTV at just 6.89% and allows £4,000 of County Court Judgements (CCJs) and two months arrears. The Medium and Heavy products are available to 85% LTV at 6.99% and 7.29% respectively with £7,000 CCJ’s and three months arrears allowable on Medium and £10,000 of CCJ’s and four months arrears on Heavy Adverse loans.
Nikki Haworth, corporate partnerships manager at Mortgage 2000, said: “With affordability based lending and a self cert option available for both employed and self employed, including first time buyers and the fees-free feature, these deals are sure to be popular with our intermediaries.”
Mark Beddows, key account manager at Future Mortgages added: “The market needs continuous innovation with product criteria. We are pleased to be able to offer these keenly priced fixed rates via one of our key distributors.”
