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TMO sets up non-conform products

The Mortgage Operation has set up two exclusive products aimed at the non-conforming market.

The medium adverse and FastTrack products will be sold through TMO’s Gros-venor House Loans brand and funded by Platform Home Loans.

The medium adverse product offers a rate of 6.42 per cent fixed until February 2007 on loans up to 750,000. The FastTrack product offers a rate of 6.66 per cent fixed until February 2007 on loans of up to 500,000.

Both products charge a procurement fee of 1.25 per cent, with a 500 minimum.

TMO head of product development Richard Stokes says: “We are delighted to offer new exclusives on medium adverse and FastTrack fixed rates to close the gap on variable alternatives.”

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