Quantum Mortgages has launched Switch to Fix as it reduces its tracker rates and introduces a new 1-year discounted tracker product.
Quantum Mortgages is an intermediary-only specialist lender, initially focusing on the needs of experienced landlords offering a range of BTL products
Spencer Gale (pictured), sales director at Quantum Mortgages, said: “As the financial markets continue to recover from the fallout of the mini-Budget presented by the government on the 23rd of September, we all know that the whole supply chain within the mortgage market has come under considerable strain these last four weeks.
“After speaking to hundreds of brokers across 16 events in October, it was clear that ICR’s were under considerable strain with the stress test of fixed rates and cases weren’t fitting, so we looked at our product range for potential alternatives that may help those struggling ICR’s and decided to:
• Allow brokers to Switch to Fix for up to 2-years after completion
• Reduced our lifetime tracker to allow for a base rate rise yesterday
• Reduced our 2-year discounted rates
• Reduced the ERC’s on the 2 year discounted
• Expanded the 2-year discounted product to include Specialist & Expat & Foreign Nationals
• Introduced a new 1-year discounted tracker across the entire range”
