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Future moves into mainstream self-cert

Future Mortgages is targeting the mainstream self-cert market for the first time with a new range of loans.

The range includes a discounted self-cert mortgage at 4.69 per cent until January 31, 2007, when the rate reverts to 5.94 per cent. The loan is available up to 85 per cent loan to value. Early repayment charges are 5 per cent in the first year, 4 per cent in the second and 3 per cent in the third.

It is also offering a buy-to-let loan at 5.4 per cent up to 80 per cent LTV, along with a right-to-buy loan starting at 5.4 per cent and a status mortgage at 4.9 per cent. All loans are available at these rates until January 31, 2005, when 1.25 per cent is added to the rate.

Head of intermediary sales Ken Horsburgh says: “This new product range will see Future Mortgages return to the front of brokers&#39 minds and the big message to brokers is that they should think about us for self-cert clients even if they do not have any credit problems.

“This is the first tangible attack on the mainstream self-cert market and we expect these keenly priced products, combined with our reputation for good service, to make quite an impact. We expect this range to appeal to many brokers who have not dealt with us before and we look forward to doing business with them and exceeding their expectations.”

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