GE revamps products to boost self-cert business

GE Money Home Lending has revised its First National product range to attract more self-cert and lower LTV business.

The revamp includes the removal of self-cert loadings for first-time buyers and the introduction of light products up to 85% LTV. GE has also reduced rates on its ultra light range starting from 4.29%. Other enhancements include higher self-cert proof of income thresholds and proof of residence reduced to 12 months.

Duncan Berry, director first mortgage sales at GE, says: “The focus is on attracting more self-cert and lower LTV business and, over the next few months, we are planning additional changes.”

Kevin Morgan, managing director at Consilium, says: “The 85% LTV for first-time buyers is attractive as long as it isn’t abused and brokers protect themselves.”