London Mortgage Company has launched a brand new range of first charge specialist mortgage products.
The new products will be linked to the Bank of England base rate and are divided in to six different categories of impaired credit, starting at near prime products (targeted at applicants with up to 1,000 of County Court Judgments) to unlimited adverse credit products.
The new product range includes:
* A two-year fixed rate starting at 5.69% (until 30 September 2008)
* A three-year fixed rate starting at 5.69% (until 30 September 2009)
* A one-year year discount starting at 3.99% (until 30 September 2007)
* A two-year discount starting at 5.09% (until 30 September 2008)
The new products are offered on a full status basis up to 95% LTV on purchases (90% on remortgage), self-cert basis up to 90% LTV on purchases and remortgage, and on a buy-to-let basis up to 85% LTV on both purchases and remortgage. Early repayment charges only apply during the fixed rate period.
Mark Wilson, director of sales at LMC, says: We are delighted to be able to offer such competitive rates to our customers.We have extended our range to offer two and three year fixed rate options for the first time responding to the high demand for fixed rates over the last few months.