Standard Life Bank will bring a range of fully flexible residential and buy-to-let mortgages to the panel under its ‘Freestyle’ product range. Features include the ability to offset, a Freestyle cash reserve and payment holidays.
The mortgage provider also offers a choice of discount and fixed rate products in addition to a ‘mix n match’ option, which allows borrowers to split the pay rate into part fixed rate and part discount.
Benefits to intermediaries include support from a national sales team, an application process by telephone or online and direct access to underwriters.
Other online services include a mortgage case tracking service via the website and a range of online support tools.
Tony Jones, managing director of Pink Home Loans, commented: “Standard Life Bank offers our members access to a competitive range of products, including those with fully flexible features, backed up by an efficient application process either online or over the telephone. We aim to continue strengthening our lending panels as we go forward in 2005.”
Alan Dring, head of sales at Standard Life Bank, added: “We are confident we can add significant value to Pink’s current lender panel. This relationship with Pink represents an important step towards the bank widening our distribution channel.”
John Stewart, director of PMI Independent Financial Advisers, said: “Standard Life Bank is by definition a flexible mortgage lender. If you’re limited to just using Pink’s panel then this addition can be seen as good. But what’s the point in going through Pink to get these deals if you’re an independent broker unless the procuration fees are enhanced. It just complicates matters.”
