Payment refund promotion from SPML

Southern Pacific Mortgage Limited has launched a six-week special offer on all products which enables applicants to qualify for a refund of one month’s mortgage payment.

The offer only applies to applications received between June 5 and July 17 which complete on or before September 30.

SPML must receive the first three-monthly mortgage payments in full from the borrower by direct debit on the due date and borrowers who qualify will receive one month’s refund within four weeks of the third payment.

John Prust, sales and marketing director at SPML, says: “This innovative promotion not only offers benefits to consumers, but it also gives brokers an opportunity to increase business by making this money-saving opportunity known to their new clients.”

Colin Jackson, director at Baronworth Investment Services, says: “The offer is attractive but it is important to consider rates and SMPL’s rates are higher than some of its competitors. One month’s refund is a kind offer but you would not consider a mortgage on this aspect alone.”