Freedom Lending is launching a two year discounted self-certification mortgage, which is available up to 90% LTV exclusively via Mortgage Choice.
The product has the following features:
* A two year discount from Bank Base Rate + 1.99% (currently 6.49%):
– 1.41% discount to 75% LTV (currently 5.08%)
– 1.31% discount to 85% LTV (currently 5.18%)
– 1.21% discount to 90% LTV (currently 5.28%)
* No overhanging early redemption charges ERCs of 5% of the amount being repaid, during the first two years. One months notice or 1% thereafter.
* Free legal fees for remortgages in England & Wales only
* Completion fee of 549
* Proc fee of 0.6%
Colin Snowdon, managing director at Freedom Lending, says: “Freedom Lending has worked closely with Mortgage Choice to develop this new product. Two year discounts have proven to be very popular and I have no doubt this self-cert product will sell well.”
Doug Hall, sales director at Mortgage Choice, adds: “Were delighted to be launching this product on behalf of Freedom Lending. As well as the competitive discounts on offer, the free legals and lack of overhanging ERCs will be a real winner with brokers. The self-cert market remains very strong and Im sure this product will be a hit.”