Step One Finance Limited (“Step One”) is pleased to announce that it has made significant enhancements to its products including reducing rates by over 100bps across the entire product line and eliminating all ERCs for its Buy-to-Let range. Exciting new products have been added including a market leading 85% LTV product for Buy-to-Let properties. A number of other process related enhancements have been made designed to speed up completion times and reduce the work load for brokers.
Martin Porter, Head of Lending for Step One said: “We are proud to provide our distribution partners with a full spectrum of competitively priced products. Our goal is to offer a range of solutions to customers with different needs and circumstances. With interest rates as low as 7.9% and LTVs up to 95% we feel we offer a comprehensive and competitive solution to the market.”
A number of highlights for Step One’s product range include:
Interest rates from as low as 7.9% and LTVs allowed up to 95%.
BTL products now available up to 85% LTV. No ERCs on BTL products.
No separate loading for self-employed customers.
Lender fees as low as £495.
AVMs now permitted on owner occupied loans up to 75% LTV.
As always our underwriting team considers each loan application on the basis of the fundamentals of the application with no computerised results or reliance on “black box” credit scores.
Jack Doherty, who recently joined Step One as the Head of Sales, added: “Feedback from our packaging partners has been excellent and we look forward to continued growth in the amount of business we are writing over the coming months.”
This press release is for our regulated brokers and intermediaries only. The new products will apply to new business generated from 14 October 2014.
Please note that Step One Finance does not charge up-front fees for any loan enquiries or applications. You should be wary of any parties purporting to arrange a Step One Finance loan who are seeking to charge up-front fees. Please contact us if you have any doubts regarding a Step One Finance loan application. Customers can also obtain additional information on the FCA’s website on the dangers of Loan Fee Fraud by clicking here.
THINK CAREFULLY BEFORE SECURING OTHER DEBTS AGAINST YOUR HOME. YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY OTHER DEBT SECURED ON IT.
IF YOU ARE THINKING OF CONSOLIDATING EXISTING BORROWING YOU SHOULD BE AWARE THAT IF YOU ARE EXTENDING THE TERM OF THE DEBT YOU MAY BE INCREASING THE TOTAL AMOUNT YOU NEED TO REPAY.
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