Freedom initially launched its new range of products via Pink Home Loans earlier this month.
Freedom’s product range includes self-cert, buy-to-let, let-to-buy, full status and non-conforming products. The range has been carefully developed to address issues which most other lenders have left unanswered, such as restrictive income multiples, credit score based underwriting, inadequate LTV’s, MIG insurance being charged on prime mortgages and interest rates linked to LIBOR, which few borrowers understand (full details of the product range are available from Freedom’s website: www.mortgages.freedomfinance.co.uk).
Colin Snowdon, Managing Director, Lending for Freedom Finance, said: “The response from brokers to our new product range has been fantastic and its great to be adding a further distributor to our panel – especially Mortgage Next.”
“Brokers are particularly keen on Freedom’s method of assessing affordability, which is more flexible and less restrictive than out-of-date income multiples. They also value a return to individual case underwriting – something other lenders have increasingly been moving away from.”
Snowdon added: “Freedom has entered the market at the very time lenders such as TMB are trying to cut back new business volumes. This has created a gap which we are only too happy to fill!”
Justine Tomlinson, Marketing Director at Mortgage Next, said: “Freedom has cleverly identified where market opportunities exist and has tailored its lending criteria accordingly. I have no doubt brokers will quickly see how the Freedom product range fits in and I’m delighted to be adding Freedom to our panel.”
In the UK, Freedom Finance employs more than 400 people and is part owned (53%) by JZ International Ltd, the international arm of the US based Jordan Corporation. The Jordan Corporation owns businesses worldwide with a collective annual turnover of approximately $4billion.
Brokers can obtain further information about Freedom’s products and services via Mortgage Next, Pink Home Loans, or by visiting the company’s website at www.mortgages.freedomfinance.co.uk
