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SPML launches new prime plus range

Southern Pacific Mortgage is launching a new prime plus range together with fixed and discounted offers.

The aim of the prime plus range is to offer a range of products for all customer credit profiles ranging from non-conforming to mainstream. Prime plus is available up to 85 per cent loan to value, and features a two year fixed rate option from 5.19 per cent and stepped discount options from 4.9 per cent from June 1 2006. Enhanced income multiples are also available which apply up to 75 per cent LTV.

SPML has extended its existing discount rates end dates. The date for non-conforming standard three year discount has been extended to December 1 2007. Non conforming buy and buy to let at 1.7 per cent and light adverse with a 1.5 per cent discount are available to September 1 2006. The various discounts offered on its prime range are available to June 1 2006.

SPML sales and marketing director John Prust says: “The very competitive rates on offer to prime plus borrowers, combined with our renowned service excellence, reflect SPML&#39s strategy to grow its mainstream business and substantially increase market share over the next twelve months.”

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