Sun Bank, the specialist intermediary lender owned by Portman Building Society, has unveiled a new product range based around common sense lending.
The range, which includes buy-to-let, self-certification and 100% mortgages, comes with an assurance that every application is assessed on its own merits. Sun Bank’s underwriters are not hampered by a blanket lending criteria or an automated credit-scoring system.
Any application that falls outside the criteria for the lender’s products will be individually assessed, allowing Sun Bank to cope with the more unusual cases that, while making sense, do not fit into a clear pigeon hole.
Higher income multiples, stretched LTV and unusual properties will be considered along with semi-commercial, let to buy, self-build and credit repair.
Chris Cummings, marketing director of Sun Bank, said: ‘In the complex-prime markets brokers have been relying on personal relationships with lenders to get mortgages through, which is ridiculous in a market of this size. A broker might be unable to call a favour and end up placing the client in the sub-prime market ‘ with the client paying more.
‘Sun Bank’s new product range combined with a common sense approach to lending, means brokers will be able to submit applications knowing that they will be assessed on their own merits.’