Mortgage Next has launched two semi-exclusive prime mortgages, with funding provided by Kensington Mortgages.
Both products, a two-year tracker and a three-year fixed rate, are available via Mortgage Next Network and Mortgage Next Partners.
The two-year tracker is priced at 2.49% over the base rate, giving a current rate of 7.49%, while the three-year fixed rate is prices at 7.39%. Both products revert to 2.5% over bank base rate.
Both products offer a maximum LTV of 90% or up to £350,000, while individuals can borrow 4x a single salary and joint applicants can borrow 3.3x joint salary or 4x a single salary plus second salary.
The product charges a completion fee of £1,999, with an early redemption charge of 5%, while brokers receive a proc fee of 0.4%.
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