Preferred sub-prime deal from Pink

Pink Home Loans has launched an exclusive sub-prime, fees-assisted remortgage deal in association with Preferred Mortgages.

The product offers a discount of 1.25% to December 31 2003 with initial pay rates starting from 5.75%

There is no arrangement or higher loan to value fee to pay, the valuation fee is refunded and if the in-house legal service is used for standard remortgage cases, there are no legal fees to pay.

The product caters for light, mid and unlimited adverse credit profiles on a full-status and self-cert basis.

David Copland, sales and marketing director at Pink Home Loans, says: “This product is ideal for those borrowers with adverse credit backgrounds, looking to remortgage to a more competitive rate. As a fees-assisted product, the costs often associated with moving a mortgage to a new lender are substantially reduced.”

John Webster, business development director at Preferred Mortgages, says: “We&#39re very pleased to be able to offer these special terms exclusively through Pink. This is the first product of its kind we&#39ve ever offered to the market”.