Beacon Homeloans has enhanced its residential mortgage range with best buy rates and an expanded lending criteria.
Interest rates on the fixed rate deals within Beacon Homeloans light, medium, heavy and fasttrack ranges have fallen and are now from 5.50% for the two-year fixed rate and from 5.40% for the three-year fixed rate products.
Beacon Homeloans has also enhanced the criteria on several products, with the number of County Court judgements allowed on the light, medium and heavy products has risen and the arrears criteria on the heavy and medium range has been expanded.
Across the entire range of residential mortgages, there have also been cuts to the cert loadings for 85% and 90% LTV.
Jeremy Russ, head of marketing and compliance at the Beacon Group, says: We are delighted to kick off the new year with a range of rate reductions and market leading product enhancements.
“We believe that 2007 will be a big year for the sub-prime market and feel these changes to our offering will allow independent financial advisers to help a wider range of borrowers.