View more on these topics

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.”

Recommended

FSA fines Leopold Joseph & Sons £85,000

The Financial Services Authority has fined Leopold Joseph & Sons £85,000 for serious failings in its system for monitoring adherence to credit limits. The weakness was first identified in 1999. Andrew Procter, director of enforcement of the FSA, says: “A firm&#39s senior management must ensure that appropriate systems and controls are in place to allow […]

First National revamps range

First National has revamped its core product range and launched two standalone websites – one for brokers and one for packagers – to encourage online case submission. Product changes include a range of tracker products linked to Barclays Bank base rate as well as a range of limited deals including new fixed and discounted products […]

Thank you for supporting the British Liver Trust

From Roger RackstrawThank you for your support for the British Liver Trust through the MS Detox Relay Rally – and thanks for the substantial cheque, too. As a small charity we are not blessed with many corporate supporters so it was exciting to have the backing of Mortgage Strategy. Please pass on our thanks to […]

Nationwide reveals details of its fixed rate range

Nationwide has revealed details of its new fixed rate mortgages, available from June 3. The company will reduce the number of loan to value bands from three to two on all fixed rate and tracker products. New borrowers with an LTV of between 75%-90% will now pay the same rate as borrowers in the 0% […]

Creating opportunity out of change

By Denise Wond, marketing manager The buy-to-let market has recently been the subject of a raft of tax changes, all of which make it a less profitable and less appealing proposition for investors. In response, we’ve seen a dip in demand for BTL mortgages and that’s bad news for many advisers who will now be looking […]

Newsletter

News and expert analysis straight to your inbox

Sign up