The range of discounted Prime products offers between 1.35% and 1.50% discount for full status borrowers and between 0.25% and 0.50% for self cert options depending on LTV and loan size. Discounts apply to a Standard Variable Rate of LIBOR plus 1.75% (currently 5.75%). A range of fixed rate options is also available from 5.50% to 1 December 2005
SPML’s sales and marketing director, John Prust, said “The existing fixed and discounted rates on our Prime product have helped to make it one of our fastest-selling new products on record. We are delighted to offer the discounts for an extended period, which will help to keep the product competitive in a climate of rising rates ”
