Sun Bank is making bold claims for Stretch, its new flexible mortgage.
The company is offering several additional facilities with it, including a guaranteed seven day turnaround to offer, the ability to access all of the flexible features from the moment that the mortgage starts and a special status version for self-employed customers.
Self employed people can have difficulty getting a mortgage, as they are sometimes unable to prove how much they earn and accounts may not go back for two or three years. However, this feature is not unique and is offered by many other competing products.
The immediate access to the flexible features on the other hand is highly unusual because many other flexible mortgages do not permit it.
The seven day turnaround is possible to achieve, but there may also be problems. Providing access to the property for valuation and surveys may be hard to arrange and problems may arise as a result of the survey