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16 April 2024
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29/10/2007 - Paragon axes 110% LTV option |
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Paragon Personal Finance has today confirmed it has axed the 110% LTV option on its prime loan range and replaced it with 100%.
Brokers were told this morning that the current market outlook for house prices meant that the lender has had to reassess its position based on risk and will now honour pipeline business above 100% until 14 December 2007. The new rates come into play on 1 November 2007. John Webb, managing director of Paragon Personal Finance said the move will ensure that the lenders portfolio is maintained and will allow the business to focus on increasing volumes of sub 100% LTV business. He added: Brokers will now be able to charge a fee of up to 7.5% across the PPF Prime range but with a reduced maximum of 3000. |
