Blemain Three-Month Payment Holiday mortgage launched
www.moneynews.co.uk > Mortgages > Blemain Three-Month Payment Holiday mortgage launched
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Money News |
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Blemain Three-Month Payment Holiday mortgage launched
Tue 21st Mar 2006
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A discounted deal was also introduced with a two per cent discount for the first 12 months on residential, semi-commercial or commercial mortgages and unregulated loans.
Brokers will also be able to take up mortgages for commercial or residential properties on an interest-only basis for the full term of the loan.
This means that all repayments made will be paying off interest rather than the amount owed, so when the mortgage term ends the customer will owe the sum that was borrowed at the beginning of the mortgage.
The final new product is a Six-Month Cash Back mortgage, whereby a client can receive half a year's worth of payments as cash back at the end of the mortgage term.
Gary Bailey, director for the Blemain Group, said: "We are delighted about our latest products and the benefits that they offer to our brokers. We feel that Blemain Group has satisfied a need in the market that other lenders do not cater for."
The Blemain Three-Month Payment Holiday mortgage is available on all residential home loans and unregulated residential term loans.
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