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Mortgage Express takes it to the Max with homeloan up to 130%

Mortgage Express is offering Max 130, a product which enables homebuyers to borrow up to 130 per cent of their property value with no higher lending charge.

Max 130 is designed to meet the needs of first-time buyers, people without a deposit and those who require cash and debt consolidation.

There are two rates available – a three-year fixed rate at 6.49 per cent and a two-year discount of 0.31 per cent, making a current pay rate of 6.24 per cent. The income multiples are 3.75 for single applications and 2.75 for joint applications.

The product has been tested in Northern Ireland for around two years and is now being made available across the rest of the UK.

Product development manager Roger Hillier says: “We are confident about the need for a product such as this which is designed specifically for first-time buyers struggling to get on to the housing ladder, in addition to those looking to consolidate credit cards, personal loans and second charges into one competitive loan. This will make repayments more manageable and could be a much better alternative for those customers in the long term.”

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