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Commercial First launches farm products

Commercial First has launched two mortgage products specifically designed for farming properties.

The first offers a self-cert income facility which, with a clean credit history, is available at 2% above three month libor at 55% LTV and 2.5% if the LTV is 65%.

The second product extends the LTV available to 70%, but will require the provision of accounts in order to qualify. Both products are available over a 30 year term with an introductory interest only period for the first three years.

Stephen Johnson, sales and marketing director at Commercial First, says: Feedback from our key broker partners has indicated strong demand within this sector.

We have found a number of farmers have good credit profiles but lack the requisite financial information for high street finance.

Self-cert is an important product feature for them. Most farmers are pre-occupied running the day to day business and are very much hands on. Producing detailed financial statements is increasingly irrelevant for them.

We are committed to growing our business and are looking at a number of other exciting market opportunities as part of our current five year strategy.


Society bosses are upbeat about 2006

In advance of the Building Societies Association’s recent conference, society bosses were asked for their opinions on the mortgage market in the next 12 months.

Don’t help clients get themselves in too deep

I have been enjoying the debate that has been taking place in the pages of Mortgage Strategy recently between my fellow columnists Peter Mounty and Sue Read regarding the merits or otherwise of self-cert mortgages.

HIP providers say packs should not be voluntary

LMC and eConveyancer say concerns about Home Information Packs having a negative impact on the housing market are unwarranted and making them voluntary would be impractical. The Building Societies Association has released the results of a poll showing that 84% of building society chief executives believe HIPs will have a negative impact on the housing […]

Threesixty hosts mortgage seminars for IFAs

Threesixty, the fee-based IFA support services provider, is hosting a series of key issues seminars in June, to discuss mortgages. The seminars will be co-hosted by Abbey for intermediaries and take place throughout the month in various locations around the UK.The sessions will include a brief overview of the mortgage market, followed by discussions on […]


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