Genesis Home Loans says business levels are up on its Planets & Moons range of products as a result of its exclusive three year stepped discount rate.
The company says the increased volumes generated by the range are driving Genesis towards an all-time record for the number of applications submitted in a year.
Launched just two months ago, the exclusive 3 year discount can be used across the whole Planets & Moons sub-prime range and offers a 1.75% discount until 2005 followed by a 1.50% discount until 2006 and a final 1% discount until 2007.
The Planets & Moons range offers 11 separate schemes offering mortgage facilities for those with previous adverse credit problems including, CCJs, defaults, arrears, bankruptcy, IVA and even past repossessions.
Full status schemes are offered up to 95% LTV and self-certification offers facilities up to 85% LTV.
John Lee, head of sales & marketing for Genesis Home Loans, says: “The volumes of business received on this rate has contributed towards two outstanding months for new business and looks set to continue in pushing the company towards a record year”.
The Genesis Home Loans product range also includes the Gemstones range - including Pearl,
Jade and Onyx - the Spacecraft range - including Freedom, Pioneer, Pathfinder and Prospector
- and the Metals & Elements range.