Available immediately, the plans – MPL Prime and Near Prime Plus – start from 5.99% and offer two-year fixed rates with no redemption overhang.
In line with recent improvements to Money Partners’ lending criteria, the plans allow up to 100% loan-to-value (LTV) on MPL Prime remortgages and 95% LTV for self-certification on both MPL Prime and Near Prime Plus.
Buy-to-let is also available on both plans with 100% of rental cover required (subject to standard terms). There is no Higher Lending Charge and the arrangement fee of £995 includes all legal costs on remortgages where solicitors appointed to act on behalf of Money Partners are selected.
Martin Gilsenan, director of mortgage sales, said: “As interest rates continue to climb, short-term fixed rate deals remain the product of choice for many borrowers. We’ve responded to this demand with two new products that are both attractively priced and free of early redemption charges after the fixed rate period. When combined with our service promise to intermediaries, I believe it makes for a compelling proposition."
