Prestige Finance unveils 90% LTV prime resi tier

Money

Prestige Finance has brought in a 90 per cent LTV tier for its prime residential product range.

Rates for the new tier are available from 9.9 per cent.

The OneSavings Bank arm has also cut rates on its entire near prime range.

Rates on the range have been trimmed by up to 4.9 per cent.

Variable rates are available from 5.75 per cent and rates on a new five-year fix start from 6.10 per cent.

OneSavings Bank head of sales second charge & commercial lending Darrell Walker says: “These market-leading rate reductions have been introduced following feedback from our brokers.

“The changes we’ve made are a testament to our broker-centric philosophy that enables us to react to market needs and evolve our specialist second charge mortgage range.”

Recommended

House-Building-Construction-700.jpg

L&G links up with Prestige to offer cover on riskier homes

Legal & General has entered into a partnership with Prestige Underwriting Services to offer specialist home insurance policies, such as for properties that are at risk of subsidence. The agreement will be in effect from 1 January 2017. Prestige specialises in “non-standard” cases, including properties with flat roofs, unusual construction or subsidence risks, and also to […]

Prestige launches consumer BTL deals and trims rates

Prestige Finance the second charge mortgage arm of OneSavings Bank has reduced rates across its residential range and introduced new consumer buy-to-let deals. In the prime and large loan range, new rates start from 4.15 per cent at 65 per cent LTV. In the buy-to-let range, new rates start from 5.49 per cent at 60 […]

Darrell Walker

60 Seconds with… Darrell Walker, head of product and new business, Prestige Finance

Next year will be big for the second charge market. Will regulation affect innovation and the sorts of products on offer, and will it have an effect on price? The whole industry has its sights set on the roll-out of the Mortgage Credit Directive. The changes to the cooling-off period and the ability for borrowers […]

Newsletter

News and expert analysis straight to your inbox

Sign up