Harpenden Building Society and Tenet Mortgage Solutions have created a range of mortgage products exclusively for police officers, both currently serving and retired from the force.
Taking the form of discount fixed rates and for purchase, remortgage or the release of equity, on up to a 35-year term, the new products are available at up to 80% LTV for repayment and 75% LTV for interest-only mortgages.
Both a two-year discount and a three-year discount have initial rates starting at 2.09% and charge a £999 arrangement fee and £100 application fee.
Additionally, there is no maximum age limit.
For potential borrowers who are retired from the police but still working, the lender will consider self-employed people “in related industries” who can show one years’ full track record – lower than the usual three years’ requirement.
Tenet managing director Simon Broadley says: “We understand this profession and recognise the unique circumstances of officers. Experience in this sector has helped us develop this bespoke mortgage offering with Harpenden.
“[Its] track record of serving communities with a likeminded approach to ours makes them the perfect partner as we look to become the vocational mortgage adviser of choice, and help individuals achieve their financial goals.”
And Harpenden director of customer operations Raj Bains adds: “Our pragmatic approach ensures mortgage applications, whatever their source, are individually assessed using common-sense and with the time needed to fully understand the customers’ unique circumstances so that solutions can be found.
“New product innovation and strategic partnerships are important to us and we are delighted to be partnering with Tenet to serve the police community in this way.”
