The range has five categories from near-prime to heavy adverse, which allows up to six missed payments and £10,000 CCJs. Products are available for full status or self-cert, and owner occupied or buy-to-let.
There are no higher lending charges (HLCs) on any of the products. Mortgages are available up to 95 per cent loan-to-value (LTV) full status and 90 per cent LTV self-cert. First-time buyers will be accepted with no rate loading across full status and self-cert ranges, while r
emortgages from non-conforming lenders will be accepted with no loading. Buy-to-let lending is based on rental income only and is available for near-prime, extra light and light, with no maximum number of properties and a maximum overall loan of £1 million per applicant.
For an initial period, the products will be exclusively available through three packagers – All Types of Mortgages, Solent Mortgage Services, and The Mortgage Times Group.
Roy New, a sole broker, commented: “These are superb rates, especially considering the rise in the Base Rate. It’s excellent there are no HLCs and there are definitely individuals out there that this will help.”
Matthew Wyles, group development director at TMW, said: “Having dipped our toe in the water during 2006 we are now getting serious about carving ourselves a place as a significant player in the non-conforming mortgage market.”
