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Harpenden BS brings out police officer mortgage range with Tenet

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  • 02/11/2021
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Harpenden BS brings out police officer mortgage range with Tenet
Harpenden Building Society has launched a range of discounted products targeted at police officers with Tenet Mortgage Solutions.

 

It will be aimed at long serving or senior police officers, as well as officers who are already retired.

The range will allow mortgages to be split across two term lengths and allow interest-only with a minimum remaining equity on completion of £150,000 up to 75 per cent loan to value.

There is no maximum age limit, and a 35-year term is permitted. It will also allow voluntary pension contributions to the minimum amount in its affordability assessment.

For police officers who are retired, the mutual will accept employed or self-employed income up to the age of 75 and permit income from multiple sources such as pension, investment and rental.

Retired applicants who are self-employed in a similar industry will have to show one years’ accounts and a projection for the following year. Harpenden’s standard requirement is three years’ financial history for the self-employed.

Simon Broadley, Tenet Mortgage Solutions’ managing director, said: “We understand this profession and recognise the unique circumstances of officers. Experience in this sector has helped us develop this bespoke mortgage offering with Harpenden. Their track record of serving communities with a likeminded approach to ours makes them the perfect partner as we look to become the vocational mortgage adviser of choice, and help individuals achieve their financial goals.”

Raj Bains, Harpenden Building Society director of customer operations, said: “Our pragmatic approach ensures mortgage applications, whatever their source, are individually assessed using common-sense and with the time needed to fully understand the customers’ unique circumstances so that solutions can be found.

“We aim to make the process as tailored, simple and personal as possible to ensure a customer-centric journey that helps customers fulfil their housing dreams. New product innovation and strategic partnerships are important to us, and we are delighted to be partnering with Tenet to serve the police community in this way.”

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