A new mortgage range for borrowers with adverse credit problems has been launched by Mortgage 2000.
The financial services group unveiled a new three-year stepped discounted mortgage range offering mortgage rates that start at 4.75 per cent, aimed specifically at people with adverse credit problems.
Freedom Lending funds these mortgages and offer a discount of 1.75 per cent in the first year, 0.6 per cent in the second and a 0.3 per cent discount in the last year.
"By forging good relationships with innovative product providers such as Freedom Lending, Mortgage 2000 continues to be one of the most powerful players within the intermediary market," commented the head of lender relationships for the financial services group, Alan Collinson.
"Delighted" about the cooperation with Mortgages 2000, the director of mortgages and intermediary business at Freedom Lending, Colin Snowdon said the new range is based on the successful On-Track mortgage range.
"Rates are market leading, with no overhanging early repayment charges," he pointed out.
Mr Snowdon said intermediaries are offered "a very clear and well-structured range", from minor adverse credit problems to serious adverse credit problems.
He predicted that variable mortgage rate products are set to make a comeback with the possibility of further reductions in interest rates .
