To mark the launch, Preferred Mortgages is offering a discount across the range until 28 February 2005 up to 90% LTV - this provides competitive rates from just 4.40%. Preferred
Mortgages new extra light product offers attractive features, which sets Preferred Mortgages aside from the competition, to both intermediaries and customers.
Key features of the new product includes:
* 1.50% discount until 28 February 2005.
* Self Cert self employed - purchases up to 90%
* Re-mortgages up to 90%
* Fee can be added to the loan
* Allows for up to £1000 CCJ per applicant and 1
month's arrear outstanding at application
* Mortgages up to £1 million
Simon Biddle, Marketing Development Manager comments: "The individual's circumstances are changing, figures from Council of Mortgage Lenders show that the number of mortgage arrears is now significantly less than five years ago. This new product is designed for customers that do not want, or require, the rates involved in heavier adverse products."
Biddle continues: "The new product reflects Preferred' Mortgages focus on continuous product development by working with intermediaries. Following sourcing system research, for the level of adverse our extra light product offers, few lenders have both features of self-certification and re-mortgages up to 90% LTV."
