Beacon launches into Right to Buy

Beacon Homeloans has launched into the Right to Buy sector.

Its new range consists of products from near prime through to Fasttrack.
It also allows applicants to borrow up to 90% of the open market value of the property (maximum 80% for flats) with a maximum of 1,000 CCJs per applicant.

For those applicants looking for a quick remortgage option, the Fasttrack product allows applicants to borrow up to 75% LTV without the requirement to provide a rent reference.

The whole range is supported by two year discounted and fixed rates, starting as low as 5.65%.

Clive Willson, head of sales, says: We are extremely pleased to be extending our product range to include Right to Buy.

Once again we have delivered a flexible and competitive product range to our packaging partners to enhance their product offering to their intermediaries.

Dave Symondson, director of MD Nationwide, adds: We have long awaited these attractive Right to Buy products from Beacon as it is a key area in which it needed to compete.

This development now makes Beacon Homeloans product range even more competitive, and we look forward to further increasing business levels with it.