Unity launches £3,000,000 loans

By Kay McLellan

10 May 2007

The larger loans will be available on Unity’s prime range and include the following features:

5 times income multiples
No extended tie-ins
No credit scoring
IVAs satisfied 3 years
Bankruptcy discharged 3 years

Rates:

2-year Fixed Status 5.63%
2-year Fixed Self Cert 5.83%
3-year Fixed Status 5.53%
3-year Fixed Self Cert 5.63%
2-year Tracker Status (1.5% Discount for 2 years) 5.57%
2-year Tracker Self Cert (1.5% Discount for 2 years) 5.76%

Ian Nelson, chief executive, Unity Homeloans, commented: “Larger loans are increasingly popular as certain sectors of the UK economy boom. Whether it’s a professional footballer or a city trader there are a significant number of people that have the financial ability and desire to purchase expensive properties. Many of these customers would fail traditional credit scores due to erratic income and bonuses and, therefore, our individual underwriting approach is more appropriate.”