Secure Trust launches interest-only and P&P range

 Percentage Sign conceptSecure Trust Bank is launching a range of residential interest-only and part-and-part loans.

The firm says the new products will help customers underserved by the high street lenders.

The new interest-only loans let borrowers take out mortgages up to a maximum LTV of 65 per cent.

The main residence can be used as the repayment vehicle when at least £150,000 of equity exists within the property.

This increases to £200,000 in London, the South East and East.

Other repayment vehicles are available at varied LTV rates, including cash, pension, endowment, and UK-based stocks and shares.

The lender’s new part-and-part lending mortgage is available at up to 85 per cent LTV, subject to loan size.

Customers can borrow up to 65 per cent on interest-only, and top up 20 per cent on a repayment basis to take overall lending to 85 per cent LTV.

Brokers will be able to access both products from 6 March.

Secure Trust Bank Mortgages head of sales and marketing Tony Hall says: “The move to launch this new range of products is the next logical step in enhancing our existing product offering.”



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