Southern Pacific Mortgages Limited – UK Mortgage Lender
Southern Pacific Mortgages Limited (SPML), a subsidiary of Lehman Brothers, was set up in London in 1996. It is now one of the top twenty mortgage lenders in the UK. The company specialises in non conforming mortgages, i.e. mortgages for customers with poor credit history, which are marketed by intermediaries.
All applications are dealt with at their office in Broadgate, London.
Fixed Rate Mortgages: 1 year, 2 year and 3 year fixed rate mortgages and remortgages.
Tracker Mortgages: 2 year LIBOR tracker mortgages and remortgages
Buy to Let Mortgages: 2 year fixed rate and 2 year discounted rate mortgages and remortgages.
Interest rates charged depend upon the borrowers’ previous credit history. Categories considered range from non conforming to heavy adverse.
As a specialist mortgage in non conventional circumstances the rates are not generally considered as favourable as other high street lenders. However, the range of options available enables the Southern Pacific Mortgages company to be a market leader and a welcome mortgage provider for those who would fail to obtain a mortgage otherwise.
In particular, the Southern Pacific Mortgages company deals with those with poor credit ratings and even those that have previously been bankrupt. Decisions on applications are made within 24 hours to allow customers the security of knowing the outcome as soon as possible. The Southern Pacific Mortgages company only provides their mortgages through a small number of specialist mortgage packagers.