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StrideUp cuts rates and enhances criteria

  • 13/11/2023
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StrideUp cuts rates and enhances criteria
StrideUp has lowered two and five-year fixed rates, changed its criteria for foreign nationals, self-employed customers and maximum property value and streamlined its documentation process.

The lender has lowered rates by up to 0.8 per cent for two-year fixed rates and 0.55 per cent for five-year fixed rates up to 80 per cent finance to value. Rates stand at 6.69 per cent and 7.24 per cent respectively.

The firm will accept foreign nationals without permanent rights to reside up to 85 per cent loan to value (LTV) as long as they have one year remaining on their visa.

StrideUp will accept the most recent year’s income for self-employed customers, which it said was to help maximise affordability for “aspirational homeowners with growing incomes”.

The lender has also lifted the cap on its maximum property value, with its maximum financing size rising to £1m up to 80 per cent LTV, £750,000 up to 85 per cent LTV and it will accept Grade 2 listed properties.

The documentation process has been streamlined so only three months of bank statements are needed and six months is only requested if only they are used for declared expenditures.

Sakeeb Zaman, CEO at StrideUp, said: “At StrideUp, our mission is to help more people achieve their financial and homeownership aspirations, and we are constantly evaluating the most effective steps to further this mission.

“These pricing and criteria changes will make our proposition more accessible to an even greater number of people and help more brokers provide a wider variety of options for those who are underserved by the traditional lenders.”

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