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Sun Bank offers flexible mortgage

Sun Bank claims it has designed its new mortgage product to meet its customers&#39 flexible needs.

The mortgage offers payment holidays, simple lending criteria and has a special status version for self-employed customers.

Borrowers can take advantage of the mortgage&#39s features from day one.

Sun Bank says customers will be able to monitor their mortgages easily with monthly and annual statements and reviews every five years.

The bank says it is offering IFAs generous comm-ission levels of up to 0.2 per cent of the total credit limit.

Sun Bank estimates that flexible mortgages will account for 60 per cent of all new mortgage business within the next four years. In interviews carried out by the bank, it says three-quarters said they wanted a flexible mortgage.

Marketing director Chris Cummings says: “The product is being launched after extensive research into what customers want. We have introduced a lot of belt-and-braces safety features into our new product which is what customers have said they want.”

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