Castle Trust launches 'Flexible Zero' mortgage

It is primarily designed for buy to let investors and other higher net worth clients and, like Castle Trust’s unique equity loans, the Flexible Zero does not require monthly payments of principal or interest.

All Flexible Zeros are fixed rate and interest is rolled up to maturity or redemption whichever comes first. Every case is underwritten and priced on its merits with flexibility as the watch word.

Sean Oldfield, CEO at Castle Trust Capital, says:

"We are in the business of complementing the products other lenders offer rather than competing with them head on. Flexible Zero, in common with our equity loan products, can sit in a second charge position and help customers to release capital without disturbing what is often a very satisfactory existing mortgage arrangement.”

Whilst launching the new Flexible Zero Mortgage, Castle Trust has also announced the withdrawal of its Partnership Mortgage.

Oldfield comments:

"We designed the Partnership Mortgage when first time buyers were in desperate need of innovative new solutions to address the shortage of available mortgage funding caused by the global financial crisis. Since then Government intervention has radically improved the prospects for new purchasers and our product simply isn’t selling in sufficient volume to make its continuation worthwhile.  Today, the customers who are driving our rapid growth are high net worth individuals and buy to let investors who value the fact that our products can dramatically improve capital efficiency."