The lender has claimed the flexible fixed rate product is unique in the 125 per cent lending market.
Colin Franklin, managing director of Godiva Mortgages, commented: “Our MOREgage products offer the combination of secured and unsecured lending – a 95 per cent loan-to-value mortgage and up to 30 per cent personal loan. The introduction of this new product gives intermediaries and their clients the best of both worlds – a competitive fixed rate with flexibility. With no ERCs on the mortgage or unsecured personal loan, we’re sure this product will be popular with house movers and first-time buyers alike.”
Key features:
• 6.44 per cent flexx fixed until 30 June 2009
• Available up to 125 per cent - 95 per cent secured; 30 per cent unsecured personal loan
• Rate on mortgage and personal loan both fixed at 6.44 per cent
• No early redemption charges; unlimited overpayment facility
• No higher lending charge
• Booking fee £199 (non-refundable)
• Arrangement fee £1,800 (added to mortgage on completion)
• Maximum total loan £250,000 (secured and unsecured combined)
• Minimum age - 21 years
