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Preferred Mortgages launches new product range

Specialist lender Preferred Mortgages is launching a new product range on January 19th.

The new range is a revision of the 2003 range however the discount periods will be extended, with the one year discount up to 1.50 per cent now available until 30th April 2005 and the two year stepped discount up to 1.75 per cent until 30 April 2006.

Customers will no longer have to produce payslips or P60s on application for the extra light product – they will simply need to obtain a reference from their employer.

Preferred is also introducing a new policy it says will speed up mortgage approvals for mortgages over £300,000.

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