As of tomorrow, Friday 3 September, the company will launch a reduced range of three core products.
The Prestige mortgage will be for loans over £500,000, bank base rate plus 0.99% for the life of loan. House 2 House will be a buy-to-let based on income and not rental yield and is a level tracker of bank base rate plus 1.79%
The final product is called Ten to Let, and is a buy-to-let based on rental yield at 125%, a level tracker at bank base rate plus 1.99%. All of the loans have a maximum loan size of 75%.
The company says it will launch its full range on November 1 2004, the second day of regulation.
Mark Bergin, director of sales and marketing, says: “This is a gradual return to the market. Having taken the decision to temporarily withdraw our products we are keen to manage the inflow of business to ensure that our service is back to being the envy of the market.
“We have spent the last few weeks clearing the backlogs and reviewing our processes as well as dedicating a lot of time to staff training.”