Preferred Mortgages launches two fixed deals on adverse range

Preferred Mortgages has launched two fixed rates on a range of adverse products.

Customers can benefit from rates starting at 5.19% until July 1 2005 and 5.99% until July 1 2006. Other features available on the fixed rates include mortgages up to £1m, up to 90% LTV for purchases and remortgage; up to 90% LTV for self-certification; Right to Buy available up to 80% and buy-to-let available up to 85%.

John Webster, business development director at Preferred, says: “The market knows that the Bank base rate is set to rise over the next 12 months and in preparation for this we have introduced these fixed rates. Customers have been used to low interest rates for the last two years and this gives them an ideal opportunity to plan ahead and avoid the impact of any anticipated rises”.

“These rates reflect Preferred Mortgages&#39 focus on continuous product development by working closely with intermediaries. We listen to their feedback and develop products in line with their requirements.”