Lending up to 80 per cent of the property’s open market value, this right-to-buy exclusive requires no income or rent references and allows buyers up to £2000 in CCJs.
Mike Parker, Business Development Manager at Elephant Loans, comments:
“This is a ‘no frills’ product designed to help the professional mortgage advisor in assisting clients who require a high loan to value and a fast offer for their right to buy. We’re already experiencing a tremendous response to this product which has been well received by brokers and IFAs.”
Product details
Funded by: Preferred Mortgages
Product: No reference Right-to-Buy
Rate: LIBOR + 5.55%
Max. advance: up to £500,000
Arrangement fee: £495
Procuration fee: 0.75%
Other: No references required, unlimited arrears, up to £2000 in CCJs
