The Cambridge Launches Competitive Larger Loan Mortgage
Most recent mortgage product launches have been aimed at first time buyers, those looking for higher LTV mortgages, and even long term fixed rate mortgages. In all of this hype, the wealthier homeowners in the country have seen very few promotions available for larger loan mortgage products.
The Cambridge Building Society is today launching a product specifically aimed at those looking for a mortgage between £500,000 and £2,000,000 and will accept up to £750,000 of the loan on an interest only basis.
The Large Loan 5 year fixed rate mortgage is a first for The Cambridge, with a 4.19% interest rate, a maximum LTV of 75%, and a competitive arrangement fee of 0.2% (minimum £2,000).
Carole Charter, Marketing Manager at The Cambridge Building Society says: “Larger loans are not suitable for everyone but there are people out there who would benefit from this unique product.
“We have introduced several new products to our mortgage range over the past few weeks and we feel this new addition is a further improvement.
“The Cambridge is committed to offering a range of options for borrowers and the Larger Loan mortgage is a product that we feel we need to be able to offer our wealthier customers looking to purchase a house in this price range.”
For further information, interviews and images, please contact Suzanne Hazell, PR Officer at The Cambridge Building Society via email shazell@cambridgebs.co.uk or on 01223 727653.
By Suzanne Hazell on Monday 5th September 2011
