Edeus is extending its early redemption programme, which offers substantial discounts to borrowers who repaid their loans in full.
The former lender says it has received a huge response from brokers and borrowers after offering the service to a select group of customers.
Its service offered borrowers up to 10% off their mortgage and waived all early repayment and administration fees in a bid to reduce the size of Edeus’s mortgage book. The lender then encouraged borrowers to visit their mortgage intermediary to negotiate a new loan.
According to Edeus, 40% of those offered a discount took the offer, and the firm will now select and contact another group of customers with the same offer.
Alan Cleary, managing director of Edeus, says: “The early redemption mortgage programme is proving to be a success with borrowers and brokers alike.
“Brokers are forging stronger relationships with their customers - and earning an additional proc fee while borrowers pick up some great deals.”
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