Britannic Money freshens up its flexible sub-prime mortgage

Britannic Money has announced an enhancement to its sub-prime mortgage – the Flexible REStart Homeloan (FRESH).

With immediate effect the self-cert option on its sub-prime mortgage product will be available to employed applicants.

FRESH Product details:

• Daily interest calculations

• All products track three-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 FRESH approach 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.”