Mortgages PLC is announcing a number of enhancements to its product range as part of a winter special promotional campaign. The enhancements include rate reductions of up to 0.5% and a number of changes to criteria and underwriting processes.
The winter special includes all three-year fixed rate mortgages reduced by 0.5%, all two-year fixed rate mortgages reduced by 0.4% and all initial discounts on one-year fixed rate mortgages reduced by 0.1%
MPLC is also making a number of changes to underwriting criteria and processes including maximum loan size will be calculated using gross income rather than net income, underwriters will be given greater powers of discretion to recommend cases proceed, and previous employers will no longer be required if the applicant has been in their current employment for longer than three months.
Peter Beaumont, sales and marketing director at MPLC, says: These enhancements to our product offering confirm MPLCs commitment to provide intermediaries and their clients with the best sub-prime mortgage products available. Our rates, which have been cut by as much as 0.5%, are amongt the most competitive available.
Whats more, the enhancements to our lending criteria and underwriting procedures will make life even easier for intermediaries. Our winter special will appeal to all intermediaries dealing in the sub-prime market.
MPLC recently launched a range of affordability based products. The rates on these products are included in the winter special and have also been reduced by up to 0.5%.