The 90% LTV products are available for purchase and remortgage, with a maximum loan size of £500,000.
Rates start from 4.04% for a two-year fixed rate with a £999 product fee and 4.39% for a two-year fixed rate with no product fee.
The exclusives are available through specialist distributors including: 3mc, AToM, Brightstar, Brilliant Solutions, Chaseblue Loans, Clever Lending, Complete FS, Connect for Intermediaries, Ingard, Pink Pig, Positive Lending and Promise Solutions.
Secure Trust Bank Mortgages head of sales and marketing Tony Hall (pictured) said: “House price inflation may be relatively flat, but there is still significant demand from clients for high LTV lending and often borrowers who are self-employed, contract workers or earn income from multiple sources have limited options in this area.
“We specialise in lending to exactly these types of clients, with empowered underwriters who see lending criteria as a helpful guide, not an insurmountable hurdle.
“The fees free option on the product will be particularly useful for brokers as clients looking for a 90% LTV mortgage would often prefer to pay a slightly higher rate than find the money for an upfront fee,” he added.
Client appetite
Doug Hall, director of 3mc, said: “We have a huge amount of demand from brokers whose clients need a lender that can combine 90% LTV lending and sympathetic underwriting, so this is a very welcome move by Secure Trust Bank.”
Brightstar Financial head of residential mortgages Gina Blagden said: “There’s a growing number of self-employed workers and contractors with reliable incomes who don’t have access to significant deposits and there will always be appetite from clients for 90% LTV lending in this area, particularly from first-time buyers.”
