Southern Pacific Mortgage Limited has announced the launch of new fixed rates on its current light adverse range, for full status applications only.
The fixed rates start from 6.54 per cent. Existing fixed rate periods on other product ranges have also been extended. Fixed rates from 5.50 per cent on the SPML prime range have been extended by six months to 1 June 2006; fixed rates from 5.75 per cent on the SPML prime buy to let range have been extended by six months to 1 September 2006. Fixed rate periods have also been extended for six months to 1 March 2006 on SPMLs non conforming range.
SPML sales and marketing director John Prust says: “Fixed rates are becoming increasingly popular, as borrowers are becoming more cautious, and seeking peace of mind over interest rate rises in the medium term. ”