High Street Home Loans, an all-status lender dealing solely through intermediaries, has opened for business with a pledge to revolutionise traditional underwriting procedures and speed up the entire process.
The lender has launched with a mortgage backed by GMAC-RFC. Fixed at 8.35% until May 1st 2001, the mortgage is available up to 90% LTV and has no application or valuation fees. Intermediaries will receive a 1% commission on completion.
The loan is available to self-certification and full status customers with CCJs up to £2,000.
Once accepted, the lender plans to minimise the paperwork associated with applications by checking the details over the telephone and aims to send out confirmation within five working days.
The lender is also devising an online facility that will enable a broker to fill in an online application form and receive an answer within 10 seconds.
Contact: 0191 423 9220
