The product has no extended tie-in and is available throughout all adverse levels with rates from 6.09%. It is available up to 90% loan-to-value (LTV).
Product highlights:
• One-year fixed rates from 6.09%
• No extended tie-in, subject to one month’s written notice.
• Early Repayment Charge – 6% during the fixed rate period
• Available across all levels of adverse
• Available up to 90% LTV
• Arrangement fee £995
• Available in Northern Ireland
Roger Taylor, director of sales and marketing at Preferred, commented: ‘This product is a welcome addition to the existing range of very attractive products on offer at Preferred. With no Early Repayment Charge after the fixed period, this makes it an ideal mortgage for those people who are working towards improving their credit profile. Borrowers who successfully manage their mortgage repayments over the 12 month period, will then be in a better position to review their finances without the tie-in of an early repayment charge."
