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Sun Bank launches “Stretch” flexible mortgage

Sunbank announces the launch of its flexible mortgage which it says offers the customer more choice than existing products.

The “Stretch” mortgage&#39 s features include a guaranteed seven day turnaround to offer, immediate access to payment holidays, simple lending criteria and special status for self-employed customers.

These are in addition the normal over/under-payment facilities associated with flexible mortgages.

The product will form part of Sun Bank&#39s residential mortgage service launched in July. It aims to become IFAs number one choice for mortgages.

Sun Bank offers a maximum loan to value of 90 per cent on amounts up to £200,000 and 75 per cent up to £500,000. Borrowers can have access to income multiples of 3.5 times their annual income or 2.75 times joint income.

Sun Bank marketing director Chris Cummings says: “Sun Bank&#39s flexible mortgage treats customers as grown-ups, so we have not imposed any waiting restrictions before borrowers can use the mortgage&#39s features.”

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