Bristol & West Mortgages has extended its adverse credit range to provide greater variety and improved rates and benefits.
The extended range was launched on October 21 and, while remaining easy for brokers and customers to understand, now provides them with significantly more choice. All adverse products start with a one-year discounted base rate tracker.
The products include light, medium and heavy adverse, deteriorating and non-deteriorating and full status and self-cert deals. There will also be four LTV bands available – 70%, 75%, 80% and a maximum LTV of 85% regardless of status. Customers who opt for lower LTV mortgages will benefit from significantly lower rates.
Dominic Toller, head of marketing at B&W Mortgages, says: “Bristol & West Mortgages' adverse range provides a simple solution in the complex adverse market whilst ensuring customers are given a competitive choice of rates – and brokers continue to receive excellent service.”
Mortgages PLC has reduced its remortgage rates by 0.25%.
The reduction applies across the board to all remortgage products. Some highlights from Mortgage PLC's remortgage range include its 70% LTV near prime remortgage, which is now available at 4% and includes a 1.75% discount until 30/11/04, and its 85% LTV light adverse self-cert remortgage which is available at 5.95% and includes a 1.5% discount until 30/11/04.
Peter Beaumont, sales and marketing director, says: “Our quarter percent rate reduction on all remortgages puts our sub-prime products on a par with many mainstream mortgage deals. They represent fantastic value for money. This move should really help brokers capitalise on the opportunities in the remortgage market.”