View more on these topics

Freedom launches three-year fixed rates

Freedom Lending, the prime niche lending subsidiary of Merrill Lynch, has added a range of three-year fixed rates to its product portfolio.

All of the products are priced at the same level as its current two-year fixes, and start from 5.43% depending on the product and LTV.

Highlights include self-cert to 90% LTV at 5.88% and buy to let to 85% LTV which uses both rental and earned income, also priced at 5.88%.

Borrowers have a choice of either paying a completion fee of 1.25% for prime, very near prime and near prime products or 1.50% for buy-to-let products, or alternatively paying a fixed completion fee of 595 across all products.

Mel Dring, marketing director, Freedom Lending, says: Our two-year fixed rate options have proven to be extremely popular and we are now able to offer three-year fixed deals at exactly the same rates.

“This gives borrowers real choice and the ability to lock-in to the certainty which slightly longer term fixed rates bring. This enhancement has been made possible as a result of our acquisition by Merrill Lynch.

Recommended

Poor pay more for credit, says MP

Poor people who get access to credit pay the highest charges for it, says Treasury Select Committee chairman John McFall. The MP says early action is needed to tackle high-cost credit and illegal lending if the government is to make meaningful progress in combating financial exclusion.

Quick thinking…

A weekend’s loan of a Ferrari F430 supercar was up for grabs on QuickBridge’s stand at the Mortgage Business Expo last week. Entrants to the competition, run in association with Mortgage Strategy, had to say why they deserved the use of the car. The winner was Surrey-based adviser John Boyce (pictured are QuickBridge managing director […]

Mortgage PLC launches IVA product

Mortgages PLC has launched a credit repair product specifically designed to help borrowers wanting to satisfy an existing Individual Voluntary Arrangements.The number of IVAs is on the increase in the UK, with 12,228 IVAs being registered in the third quarter of 2006. This is an increase of 117.9% on the same period last year, according […]

MPLC launches training scheme

Mortgages PLC has launched a scheme to help develop business development managers. MPLC has created three positions for graduates and people looking to move into a field sales role. The scheme aims to equip participants with an understanding of mortgage lending and a BDM’s role.

Can you put a hat on?

By Sarah Scott, marketing consultant You might think the question in the title is a strange one. Perhaps even more so when you learn that it’s one of several asked as part of an assessment for Employment Support Allowance eligibility in the opening scenes of the 2016 film, ‘I, Daniel Blake’. Daniel is a carpenter […]

Newsletter

News and expert analysis straight to your inbox

Sign up