As part of its plan to expand its offering, the lender has confirmed it is to launch an online system, in addition to revamping its product range.
A spokesperson for C&G confirmed that the lender would be launching a new online mortgage application and case management system in 2007, although would not be drawn on any dates for its launch. Hugh Nichols, partner at Badbury Berkeley Financial Services, said: “Cheltenham & Gloucester is one of the last big lenders to introduce an online application system. It is moving in the right direction by updating its operations. The developments should be interesting.”
C&G has also revamped its buy-to-let (BTL) range. As part of the enhancements C&G has launched a two year fixed rate mortgage available at 4.95 per cent and a five year fixed rate product at 5.35 per cent, in addition to announcing a two year tracker with an initial rate of 4.85 per cent. Its BTL rates are available up to 85 per cent loan-to-value.
Commenting on the enhancements, John Champion, intermediary sales director at C&G, said: “Customers are increasingly seeking diverse products and we are keen to meet their needs. Buy-to-let will be a strong focus for C&G in 2007 and we believe this highly competitive range is a clear demonstration of our ambition in this market.”
