SPML’s three-year fixed rates have been priced 0.15 per cent lower than the two-year fixed equivalents, while three-year fixes with a 1.5 per cent arrangement fee are now available, with rates from 6.49 per cent.
The lender has also launched a product called ‘Almost Prime Plus’. This product has introduced an element of credit scoring as part of the instant decision, which will help determine the actual risk. Pricing starts from 6.49 per cent.
Guy Batchelor, executive director, sales and marketing at Lehamns, said: “Our ‘Almost Prime Plus’ products use exactly the same process as our best-selling ‘Almost Prime’ product, meaning no additional work for the intermediary.
“Although December is not traditionally a time to launch new products, we felt it was important for us to show support for mortgage intermediaries and give them some very attractive rates which should prove popular over the coming weeks.”
Roy New, a London-based sole broker, commented: “This is excellent news. Anything that can give brokers extra ammunition in front of the customer is great. It sounds like a good deal. The market has become very hard, so to cut 0.7 per cent is excellent and will send new clients SPML’s way.”
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