Intelligent Finance says mortgage applications have soared by 21 per cent since it launched its two new standalone products - fixed rate and tracker rate mortgages - through professional advisers two weeks ago.
On the back of this strong demand, Intelligent Finance will be offering these two new products directly to consumers from 16 February. The bank will be offering fixed rate mortgage at 5.19 per cent until July 2006 followed by an additional one year discounted variable rate of 0.15 per cent below the bank's standalone variable mortgage rate.
Intelligent Finance products and marketing director Duncan Movassaghi says: “We knew from feedback pre-launch that intermediaries were looking for a wider choice to run alongside our offset mortgage and judging from the business flowing through the doors we're meeting that demand. We're now delighted to offer these great new products to direct customers.
“Offset still remains very much at the heart of Intelligent Finance's proposition and these two new standalone products continue the bank's commitment to offering customers more choice and good value.