"House price inflation may be relatively flat, but there is still significant demand from clients for high LTV lending"
The 90% LTV products are available for purchase and remortgage, with rates from 4.04% for a two-year fixed rate with a £999 product fee and 4.39% with no product fee. The maximum loan size is £500,000.
The exclusives are available through specialist distribution partners of Secure Trust Bank, including: 3mc, AToM, Brightstar, Brilliant Solutions, Chaseblue Loans, Clever Lending, Complete FS, Connect for Intermediaries, Ingard, Pink Pig, Positive Lending and Promise Solutions.
Tony Hall, head of sales and marketing at Secure Trust Bank Mortgages, said: “House price inflation may be relatively flat, but there is still significant demand from clients for high LTV lending and often borrowers who are self-employed, contract workers or earn income from multiple sources have limited options in this area.
"At Secure Trust Bank, we specialise in lending to exactly these types of clients, with empowered underwriters who see lending criteria as a helpful guide, not an insurmountable hurdle. The fees free option on the product will be particularly useful for brokers as clients looking for a 90% LTV mortgage would often prefer to pay a slightly higher rate than find the money for an upfront fee.”
Doug Hall, director at 3mc, commented: “We have a huge amount of demand from brokers whose clients need a lender that can combine 90% LTV lending and sympathetic underwriting, so this is a very welcome move by Secure Trust Bank.”
Gina Blagden, head of residential mortgages at Brightstar Financial, added: “There’s a growing number of self-employed workers and contractors with reliable incomes who don’t have access to significant deposits and there will always be appetite from clients for 90% LTV lending in this area, particularly from first-time buyers.”
