Preferred Three-Year Stepped Fixed-Rate product range launched

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Preferred Three-Year Stepped Fixed-Rate product range launched

Wed 22nd Mar 2006

A Preferred Three-Year Stepped Fixed-Rate product range has been unveiled today, with rates beginning from 4.99 per cent.

The company states that the release of this range is in response to the feedback from intermediaries showing great demand for products such as these in the non-conforming marketplace.

Rates on the Preferred Three-Year Stepped Fixed-Rate offers will be fixed until July 1st 2009 and right to buy rates will start from 5.19 per cent, reports product website Mortgage Introducer.

Roger Taylor, director of sales and marketing at the lender, said: "The Stepped Fixed Rates reflect Preferred's commitment to providing non-conforming customers with the opportunity to improve their financial situation, offering a lower rate in the first year and gradually stepping up over the next two years."

The company also announced that products in its core range have been adjusted, with some rates being cut by up to 0.2 per cent and two- and three-year fixed rates being extended until July 2008 and 2009.

Discounted rates now start at 4.03 per cent and fixed rates from 5.49 per cent.

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