Products include two-year tracker rates from a current pay rate of 5.34 per cent and two-year fixes from 5.59 per cent. Near-prime trackers for self-cert begin at 5.74 per cent, with self-cert available up to 90 per cent loan-to-value (LTV).
Further products include two-year BTL trackers from 5.14 per cent and fixed rates from 5.34 per cent. BTL deals are available up to 90 per cent LTV, with 120 per cent rental calculation at pay rate.
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There are no overhanging early repayment charges (ERCs) or higher lending charges on any product and all products allow ERC-free capital repayments of 10 per cent annually.
Tony Burdin, head of group marketing for Scarborough Specialist Mortgages, said: “We recognise that products and pricing in this market shift much faster than in the prime mortgage arena. That’s why we’ve taken stock of our range and believe we’ve come up with a more competitive package.”
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Ashley Clark, director for Need An Adviser.com, said: “I admire Scarborough for launching a comprehensive tracker range at a time when there has been a stampede for fixed rates. It’s short-sighted to be looking at fixes, as I believe rates will reduce later this year.”
