RAW Capital Partners has added a fee-free overpayment option on its mortgage range.
New customers can make a single overpayment of up to 10% of their outstanding loan balance each year without early repayment charges (ERCs).
The new feature lets landlords with interest-only mortgages reduce their loan balance, build equity and lower borrowing costs.
The overpayment option is available to both UK-resident and non-UK resident clients.
Tim Parkes (pictured), CEO of RAW Capital Partners, said: “It’s the start of a new year, and we know that many landlords will be scrutinising their portfolios and their finances.
“For our clients, this new overpayment option gives them a straightforward way to reduce leverage, build equity and manage costs, without sacrificing the flexibility of an interest-only structure.
“Following the launch of our UK product last month, this enhancement further strengthens our proposition and reflects ongoing feedback from brokers and borrowers who are looking for greater optionality within their financing.”
Parkes added: “I’m confident they’ll find great value in this new offering, and we’ll be announcing further improvements in the coming weeks.”
