Central Trust launches first and second charge one-year fix

Central Trust has added a new one-year residential fixed rate option to its product offering.

It is available for first charge mortgages on unencumbered properties as well as second charges, including across Central Trust’s consumer buy-to-let, family let and let-to-buy ranges.

The one-year fixed rate is available at 8.83% up to 80% LTV with an early repayment charge of 1% applicable for the year. The minimum and maximum loan sizes are £10,000 and £250,000 and the product is available across England, Wales, Scotland and Northern Ireland.

Maeve Ward, commercial operations director at Central Trust, commented: “As consumers continue to navigate an economy of uncertainty we hope that a one-year fixed rate product will provide certainty of payment. It also offers the freedom to leave for those who are more optimistic about further rate rises and the possibility of rates settling down over the next 12 months.

“It allows clients to borrow with confidence, restructuring their finances or enhancing their property with a view to remortgaging without penalty.

“2023 continues to be a year of continuous evolvement for Central Trust as we strive to support those otherwise underserved, extending our reach as far as possible.”