Victoria mortgages will lend on high rise flats and non-traditional construction, as well as on traditional construction. Remortgaging is possible in the pre-emption period and, unlike other lenders, there is no waiting period. Lending is also based on the valuation and not the purchase price, and capital raising is acceptable for any legal reason. Right to buy mortgages are available with extended discounts or at very attractive fixed rates. Victoria has also reduced its LIBOR rate to 4.58%.
Kevin Hillgren, ceo at Victoria Mortgages, commented:
“We have seen strong interest in RTB mortgages, particularly for non-traditional construction. We have designed our new RTB range to meet this demand and, with our pricing, we also expect to see volumes of business for standard properties.”
