Prestige Finance, the second charge loan specialist and part of OneSavings Bank plc, is rolling out a new fixed-rate product range.
The residential loans are for fixed terms of two and three years and are available at loan sizes from £10,000 to £2.5 million.
The new offers come as a response to the increased demand from brokers for more competitive fixed-rate products, Prestige Finance says.
“These new fixed rate products deliver real competitive alternatives to the variable rates that currently dominate the market. It also gives our partners further options for their customers who are seeking the peace of mind that fixed rate products can provide,” Darrell Walker, head of product & new business at the company, said.
“The inclusion of the new range of fixed rate products reinforces Prestige Finance’s position as a real leader in terms of product innovation, partnerships and its professional approach to the second charge market. It also uses this approach to deliver competitive products that puts choice and availability firmly in the hands of the broker and their customers,” John Eastgate, sales & marketing director, OneSavings Bank, commented.
The new offers include:
| Term | Fixed rate | LTV | Minimum Loan Size | Maximum Loan Size |
| 2 years | from 5.39% | up to 85% | £10,000 | £100,000 |
| 3 years | from 5.59% | up to 85% | £10,000 | £100,000 |
| 2 years | from 9.5% | up to 75% | £10,000 | £100,000 |
| 3 years | from 9.7% | up to 75% | £10,000 | £100,000 |
| 2 years | from 6.6% | up to 75% | £100,000 | £2.5 million |
| 3 years | from 6.8% | up to 75% | £100,000 | £2.5 million |
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