Unity Homeloans Three-Year Stepped Discount mortgage available

www.moneynews.co.uk > Unity Homeloans Three-Year Stepped Discount mortgage available

Unity Homeloans Three-Year Stepped Discount mortgage available

Fri 28th Apr 2006

A Unity Homeloans Three-Year Stepped Discount mortgage has been announced with a discount of 1.75 per cent in year one, 0.5 per cent in year two and 0.25 per cent in the final year.

Rates for the three ranges of credit rating are 4.75 per cent for light customers, 5.25 per cent for those with a medium rating and 5.5 per cent for borrowers with a heavy adverse credit history.

The Unity Homeloans Three-Year Stepped Discount mortgage is available exclusively through the Professional Mortgage Packagers' Alliance (PMPA).

It was also announced that the rate on the Unity Two-Year Fixed-Rate light product has been reduced by 0.45 per cent to 5.5 per cent for status customers and to 5.75 per cent for self-certified borrowers.

Rates on the heavy range offered by Unity are 6.75 per cent for status customers and 6.95 per cent for those who are self-certified.

Jon O'Brien, director of operations at PMPA, said: "The new exclusive stepped discount from Unity Homeloans is structured to offer the maximum benefit in year one, when most borrowers prefer repayments as low as possible."