The range of product enhancements launched by Mortgages plc today includes:
A choice of Stepped or Rolling discounts available on all products:
- Stepped - 3 year stepped discount with initial discounts up to 2.25% and no Early Repayment Charge overhang period
- Rolling - 14 months from completion, discounts up to 2%
Free valuations:
- Available on all Stepped and Rolling discount products until 31st January 2005
- Available in England and Wales on valuations carried out by Countrywide, Colleys and J&E Shepherd only
- Available in Scotland on valuations carried out by Countrywide, Colleys and J&E Shepherd only
- Available in Northern Ireland on valuations carried out by Countrywide and Colleys only
£250 cashback:
- Available on all Rolling discount products until 31st January 2005
Mortgages plc was acquired last month by global investment bank Merrill Lynch and within 48 hours cut its standard variable rate to 6.90%, reducing rates across its product range by 0.25% for new and existing borrowers.
Sales & Marketing Director, Peter Beaumont,"said: “Make no mistake, Mortgages plc is determined to position itself as'the UK’s leading non-conforming mortgage lender. We intend to achieve this goal by launching a series of enhancements to our product range, which are designed to make intermediaries sit up and take note of our offering. Our intermediary partners and existing borrowers are already seeing the benefit of our new corporate ownership.”
