PMS Mortgage Club and Sesame Network, part of the Sesame Bankhall Group, have today launched a 95 per cent loan to value mortgage with Skipton Building Society.
The residential mortgage policy, provided by Skipton at 3.12 per cent fixed for five years, is only available to members of the mortgage club and appointed representatives of its network. The new product has no application, arrangement or completion fees.
Jane Benjamin, director of mortgages at Sesame and PMS, said: "In addition to the low headline rate and high LTV, this attractive mortgage product offers stability in the first five years, which we believe will prove to be popular with our members and their customers in these uncertain economic times.
"We have worked closely with Skipton Building Society to bring this exclusive new product to market, and in doing so they have once again shown their commitment to our members."
Paul Fenn, director of business development at Skipton Building Society, added: "We’ve had a great start to 2019 with SBG, outperforming 2018 by up to 30 per cent in some instances, so we’re delighted to be able to offer this exclusive to PMS and Sesame members, to help continue that great start and to ensure customers are getting the best deal possible."
Carl Shave, director at Just Mortgage Brokers, said the product put Sesame "firmly in contention for recommendation by brokers in this sector of the market".
He explained: "The rate is keenly priced giving certainty to borrowers over the five-year period and is bolstered by the added benefit of having no arrangement fee.
"Rates for 95 per cent LTV mortgages have improved markedly compared to how they were priced a few years back and it is pleasing to see that Skipton continues to see this as an important area of lending."
Sesame and PMS have already launched a number of products with Skipton, including an 85 per cent loan-to-value three-year fix in 2016.
Last month they appointed Stacey Wood to a newly created national relationship manager role to support advisers in the new build and first-time buyer sector.
This comes after the firms saw mortgage completions reach the highest level for a decade in 2018 after rising 12 per cent.
imogen.tew@ft.com
