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.”

Recommended

Legal-and-General-LG-700.png

Secure Trust Bank joins L&G’s panel

Legal & General Mortgage Club has added Secure Trust Bank Mortgages to its lender panel. Secure Trust launched in March last year targeting residential borrowers who are “underserved by the traditional high street lenders” such as the elf-employed, contract workers and those with complex incomes or who have experienced a credit blip. It offers mortgages […]

Buckley-Peter-Illustration

A Day In The Life Of… Peter Buckley, Secure Trust Bank

My alarm goes off at… …strangely enough, I don’t actually use my alarm and have never had to. I’ve always just woken up at 5am; sometimes even earlier. I think that’s been the case ever since I used to do a morning paper round 40 years ago! I can’t leave the house without… …having a […]

Estate-Agent-To-Let-Buy-Sign-700.jpg

New HMO range launched by Landbay

Landbay has launched a new range of buy-to-let deals specifically designed for landlords investing in HMOs. The range will see small HMOs treated as standard properties, while the minimum property value is being reduced to £120,000. The new range includes two-year fixed rates starting at 3.09 per cent at 75 per cent LTV and five-year […]

Newsletter

News and expert analysis straight to your inbox

Sign up