Prestige Finance has simplified its prime and large loan ranges.
The second charge lender, which is part of OneSavings Bank plc, has reduced rates and introduced fewer LTV bands.
Details include the following:
Prime:
- Variable rates from 5.29%
- Fixed rates from 5.59%
- Entry LTV now available from 65% LTV
- 80% LTV rate down more than 2%, now from 6.99%
- Maximum loan size remains at £200,000
- Simplified range now only five products
Large Loan:
- Variable rates from 5.55%
- Fixed rates from 5.85%
- 65% LTV rate loan down almost 2%, now from 5.55%
- Loans up to 75% LTV now available from 6.25%
- Maximum loan size remains at £2,500,000
Darrell Walker, head of product & new business at Prestige Finance, said: “After listening to our partners we have been very keen to simplify and increase the competitiveness of our prime and large loan proposition. These changes, added to our flexible and proven approach to ‘big ticket’ underwriting, create one of the most comprehensive second charge lending propositions in the market.
“It’s been quite a month for Prestige. We have not only delivered our new range of buy-to-let products but have increased the competitiveness of our prime and large loan products.”
