The product is available exclusively via members of the Mortgage Next Network and directly authorised brokers registered with Mortgage Next Partners.
The self-cert mortgage, which includes let-to-buy self-cert and is funded by Freedom Lending, has rates starting at 4.84 per cent for loans up to 75 per cent LTV, rising to 4.94 per cent up to 85 per cent LTV and 5.18 per cent up to 90 per cent LTV. The reversion after the discount period is BBR + 1.99 per cent (currently 6.49 per cent).
Early redemption charges are 6 per cent of the amount repaid during year one, 5 per cent during year two and then one month’s notice or one per cent of the amount repaid thereafter. The product has a £699 completion fee and pays a procuration fee to brokers of 0.5 per cent. There are no higher lending charges.
Justine Tomlinson, marketing director at Mortgage Next, said: “There continues to be a big demand for self-cert and this two-year discount offers excellent value for money. What’s more, the product includes Freedom’s excellent affordability calculator, which is easy to use and fully transparent, and all applications are individually underwritten rather than being credit scored. I have no doubt this exclusive deal will be really popular with both brokers and borrowers.”
