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Britannic Money enhances flexible sub-prime mortgage

Britannic has enhanced its sub-prime mortgage, the Flexible REStart Homeloan (FRESH).

With immediate effect the &#39self-cert&#39 option on the product will be available to employed applicants. This means that they will be able to use additional income such as rent or share dividends when applying for a mortgage.

FRESH is now available through even more specialist mortgage packagers. Brokers who want to apply for this product or get additional information should call the Britannic Money dedicated FRESH telephone line on 0870 411 2486.

FRESH product details:

* Daily interest calculations

* All products track 3 month LIBOR for the life of the loan

* 1.55% discount for 12 months

* The flexible allowance allows overpayments, underpayments & payment holidays up to 10% of the original capital balance per annum within the ERC period.

Bob Perks, Britannic Money business development director, says: “The &#39FRESH approach&#39 encourages those with previously impaired credit to manage their money more effectively by planning in advance to cover mortgage payments.

“These FRESH enhancements further illustrate our innovation in the flexible mortgage market. Not only are we opening up a whole new avenue for potential borrowers, but also through the increased packager network, we have made it even easier to submit cases to us. ”

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