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100% and self-cert loans by non-conformist C&G

Cheltenham & Gloucester is launching into the non-conforming lending

market for the first time.

The UK&#39s third-biggest lender is set to offer self-certification mortgages

through IFAs and its branch network for a three-month pilot trial, after

which it has pledged to “take a closer look at what customers want”.

At present, the only mainstream lenders to have delved into the

non-standard sector under their own brand are Bristol & West and Chelsea

Building Society.

C&G is offering two mortgages – one for customers who want to borrow up to

100 per cent loan to value and a self-certification loan for self-employed

borrowers who can find it difficult to prove their income.

Both mortgages are fixed for two years at 7.49 per cent. After the fixed

term, borrowers can switch to C&G&#39s mainstream product range.

Sales director Nick Hale says: “Our toe in the water approach enables us

to monitor this sector of the market and ensure that good quality

applicants requiring a non-standard approach receive it at C&G.”

London & Country mortgage specialist David Hollingworth says: “This is an

extension of C&G&#39s product range which allows them to push further into

different markets.”

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A major feature of our articles is looking into the Jelf Employee Benefits crystal ball to predict changes and trends that may influence the short and medium term shape of UK employee benefits.  By flagging such changes early we aim to provide our followers with the tools to make sensible and informed decisions on their benefits offerings.

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