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Preferred writes to packagers to clarify which criteria will apply to re-offer cases

Preferred has written to packagers and brokers to clarify its policy regarding which product range and criteria will apply to cases requiring re-offer after the October 5 cut-off date.

This is in relation to its recent communication announcing new product launches on its core range from October 3 and its shared ownership range on October 10.

It says that if the reason for re-offer is either expiry of offer, expiry of supporting information and references, change of loan amount or change of loan details the new product range and new criteria will apply.

But it says that if the reason for re-offer is change of other details such as new solicitor, correct names/address errorss etc then it will have the same terms as original offer.

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