It has also revamped its buy-to-let product range and has made a number of other price cuts across the rest of its range. The changes have been made as Victoria continues to follow up on its promise to pass on the savings made from the company’s low cost base to clients.
Highlights of the changes include:
• Near-prime Winter Special. 90 per cent self-cert two-year fixed rate at 6.29 per cent. With reduced completion fee of £795.
• Buy-to-let loadings reduced and portfolio sizes increased to six properties and £1m
• Reduction in right-to-buy loadings
• There are no Higher Lending Charges on core Victoria products
Kevin Hillgren, CEO of Victoria Mortgages, explained: “There have been many new entrants into the market this year. However, Victoria’s packager only distribution model enables us to respond to changes in the market faster than any other lender. Our packaging partners saw demand for a single straight forward 90 per cent self-cert product and we have launched what we believe is the best product in the market.”
