The new rates boast features including:
- 2 year fixed rates reduced by 0.15%
- 3 year fixed rates reduced by 0.05%
- End dates for 2 & 3 year fixed rates have been extended to 1st March 08/09
- End dates for the 1 year 2.25% discount has been extended to 1st March 07
Brokers who access SPML via the Advantage hub get all the usual features but with an added bonus of receiving up to 1.5% procuration fee (including fee premiums) when they send in a decision in principle request via their non-conforming mortgage sourcing solution e:valuate.
Sarah Jones, product manager at Advantage announced:
"The reduction to our branded range of two and three-year fixed rates and the additional two year discount rate can only enhance what is already a strong product range. We are continuing with our £99 valuation fee (refunded on completion) on selected S500 deals and also offering the potential to earn an extra 0.25% when a decision in principle is requested via e:valuate."
John Prust (Sales & Marketing Director at SPML) added:
“With many lenders starting to increase the rates on their fixed rate products, we are delighted to be offering more keenly priced fixed rates in what is still a very competitive market place. The cost of borrowing for customers is increasingly the key factor in advising on mortgage choices, and we are confident that our reduced fixed rates will prove to be highly popular with both mortgage brokers and borrowers who are looking for stable payments in the early part of the mortgage term.”
