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Preferred enhances its product range

Preferred Mortgages has revealed enhancements to its 2004 product range.

The new benefits include a range of discounts available – up to 1.50% until October 1 2005 or a two year stepped discount up to 1.75% until October 1 2006. An additional discount of 0.25% for all loans above £200,000 is extended until October 1 2005.

Other key improvements within the range include the fact that defaults are now ignored. LTV and completion fees can now be added up to 95% LTV. Self-certification for employed and self employed, purchase and remortgage, increased up to 90% LTV. Right to Buy LTV nowincreased up to 85%. And it is now possible with the buy-to-let to have up to eight properties totalling £1m.

John Webster, business development director, says: “The new core range is evidence that Preferred is constantly looking at ways to improve and develop its products to meet the changing needs of our customers. Preferred is happy with the performance of its self-certified and Right to Buy products, hence its confidence that it can responsibly increase the permitted loan to values.

“Other changes such as ignoring defaults and extending the number of buy-to-let properties per applicant have been introduced because of intermediary feedback, proving yet again that Preferred listens to its customers.”


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