Following the successful launch of its 2003 product range, Preferred Mortgages the non-conforming mortgage specialist has announced a new stepped discount until 31 December 2005.
For mortgages up to 75% LTV the discount is 1.25% in the first year and then continues at 0.50% until 31 December 2005. This offers the customer an overall attractive discount of 1.75%.
For mortgages from 75% LTV the discount is 0.75% in the first year and then continues at 0.50% until 31 December 2005 - an overall discount of 1.25%.
In addition to this new stepped discount, Preferred is also extending its one year discount until 31 December 2004. Discounts are available up to 1.50%.
Simon Biddle, Marketing Development Manager at Preferred Mortgages, said: "The discounts have been developed to work in line with what is already a very competitive product range. Our aim is to provide our customers with a product that gives longer term protection against the prospect or rising interest rates. This new stepped discount and extended discount demonstrates that Preferred is delivering intermediaries even more choice"
Biddle continues: "Much of our success this year is down to our rapidly growing intermediary network. We will continue to launch products which help intermediaries to meet their clients' needs."
For further information about Preferred's product range call 01444 447755 or visit www.preferredmortgages.com.
