Advantage launch non-conforming S500 five-year fixed rate

Advantage Home Loans has launched a non-conforming five year fixed rate with a three year early repayment charge on its S500 range.

Fixed until 2010 and rates headlining at 5.59%, after three years clients can choose to either remain on fixed rate, switch free of charge to LIBOR + margin, or redeem without incurring on early repayment charge.

Sarah Jones, product manager at Advantage, says: “We are excited by the new features of this Near Prime product.

The S500 range as a whole offers many competitive niches including 90% self-certified employed and self-employed, no bank statements required at 95% LTV, buy-to-let up to 85% LTV and Right to Buy up to 90% LTV.”

Advantage also offer a 99 valuation on selected S500 deals, which is refunded to the client on completion.