Interest rates automatically reduce over time when borrowers move into lower LTV bands.

It will also accept applications for capital raising where the applicant has sufficient equity in an existing property.

The lender is also reducing rates across its residential range by up to 0.25%.

The reduction allows applicants to borrow on average £28,000 more.

The product combines elements of both interest-only and capital and interest.

The lender has cut two-year fixed rates at 90% and 95% LTV.

Will Rice is remaining with the lender in a non-executive role.

April saw over 100,000 searches conducted on Knowledge Bank for the first time this year. 

Possessions increased during Q1, but remain significantly lower than long-term averages.

Recruitment is underway for a number of new roles, including within Movera’s financial crime, advisory, client care and technical support functions.