NEW RESIDENTIAL MORTGAGE SOLUTIONS TO HELP YOU MAKE MORE CUSTOMERS HAPPY

SEMI-EXCLUSIVE – MORTGAGE PRISONER SOLUTION

How many ‘mortgage prisoners’ do you have in your bank of customers?  This brand new semi-exclusive product could be just the solution to help release them onto more favourable terms – and help you make more of your customers happy!

Criteria highlights:

• 2yr fixed product with rates from 3.29%
• Up to 70% LTV (unless restricted by lenders interest only cap)
• Min / max mortgage: £25,0001 – £500,000
• Min term: 5yrs (10yrs where there’s an element of interest only)
• Max age of 70 at maturity of mortgage

Additional features:

• Includes those wishing to re-mortgage from inactive or non-originating lenders (do not have to be on existing reversion rate to qualify)
• Interest only or capital & repayment available (interest only is subject to criteria)
• Affordability stressed at 1% (for interest only, the calculation will assume 100% C&R)
• Free standard valuation & legal fees
• Some credit blemishes accepted – enquire for details

Qualifying rules to make a note of:

• For owner occupied homeowners who wish to re-mortgage on a £ for £ basis
• No term extensions
• Must have held mortgage for at least 10yrs

ENHANCED RESIDENTIAL MORTGAGE CRITERIA FOR PUBLIC SECTOR KEY WORKER

This product range is available to:

• Armed forces
• Fire fighters
• NHS clinicians (incl. paramedics & nurses)
• Police officers
• Teachers & lecturers (primary, secondary, 6th form, college & university)

Enhanced criteria from KMC’s standard range include:

• Max age of 40 at application
• Up to 5 x loan to income multiple (4.5 std range), based on affordability
• 55% DTIR (50% std range)
• No minimum income required and joint applications are acceptable

NB: 6 x loan to income multiple available on the ‘Young Professionals’ range – please ask for further details

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