Secure Trust Bank is set to launch a new range of residential interest-only and part and part mortgage products from tomorrow (6th March).
The specialist lender’s new interest-only proposition allows borrowers to take out mortgages up to a maximum of 65% LTV.
The borrower’s main residence can be used as the repayment vehicle when a minimum of £150,000 of equity exists within the property, with this value increasing to £200,000 in London, the South East and eastern regions.
The new part and part lending mortgage product will be available up to 85% LTV, subject to loan size.
It will allow customers to borrow up to 65% on interest-only, and top up 20% on a repayment basis to bring overall lending to 85% LTV.
“The move to launch this new range of products is the next logical step in enhancing our existing product offering,” said Tony Hall, head of sales and marketing at Secure Trust Bank Mortgages.
“We are continually looking at ways to diversify the options available for our customers, and these products represent our commitment to that.
“We are pleased to announce these new products and look forward to supporting even more customers through our expanding network of brokers across the UK.”
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