London Scottish Mortgages has changed its range of sub-prime residential mortgages after a review of its products in consultation with key intermediaries and packagers.
The changes which include a streamlining of the products and overall increases on LTV to 80% across the entire range has also encompassed a complete redefinition of acceptable property types meaning that many now fall into lower interest rate plans.
LSM, which specialises in the whole of the non conforming market, including commercial, secured loans and bridging as well as residential, has established relationships with a number of key packagers to promote its products as well as maintaining strong ties with individual brokers.
Martin Coates, sales & marketing director of LSM, says: “Following discussions with our introducers we have increased LTVs to 80% right across our range. Furthermore, our property reclassification means that even more property types will attract lower rates. I’m convinced that these changes will be warmly welcomed by both introducers and clients alike.”