Future Mortgages Secured Loans has launched a three-year fixed rate secured loan pilot.
The product, which will be available for a limited period through key secured loan packagers, features rates ranging from 7.89% to 10.69% and can lend up to 90% LTV.
Future Mortgages says it will consider launching the deal as a long-term product if it proves to be successful.
Ian Warrilow, head of secured lending at Future Mortgages, says: “Our research has shown that in current market conditions customers value longer term security and the opportunity to accurately budget their financial commitments. We therefore want to help our key partners with a product range that can meet the financial needs of their clients.”
The service is being offered to a limited broker panel to recognise key partners in the success of Future’s web based decision system, which was launched in July 2007.
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