Second charge lender Spring Finance will now offer a first-charge remortgage product, following a successful pilot last year.
This will available on loans up to £100,000 with a maximin 75% LTV.
As part of a wider enhancement to its proposition the lender has also added an HMO and Airbnb product to its existing second charge BTL product range, as well as simplifying its eligibility criteria for self-employed applicants.
The changes comes after Spring increased the size of all three institutional funding lines and made a number of new appointments to its team, including Will Merry as senior underwriter.
Spring head of sales for mortgages Paul Carley says: “The remortgage product has served a gap in the market, and we look forward to supporting more consumers in this area.”
Spring Finance Limited was established in 2011 as a second charge mortgage lender. In March 2022 it entered the bridging finance market lending on a first and second charge basis with a mixture of regulated and unregulated loans.
Original Article
