Southern Pacific Mortgage Limited has released a one-year fixed rate product, starting from 6.04% with no extended tie-in.
This product is available across the entire SPML product range, including buy-to-let and Right to Buy, and is available up to 95% LTV.
There is also an early repayment charge of 6% during the fixed period, with one month’s notice thereafter
This combination makes this product particularly appropriate for those individuals who wish to improve their credit profile within 12 months, subject to payments being maintained.
Lynsey Mitchell, head of sales and development at SPML, says: “We are very pleased to be able to offer this one-year fixed rate product which extends the choice to our intermediary partners.
“This product has been designed specifically for customers who would like to improve their credit profile within 12 months, whilst benefiting from a fixed rate.”