Website: Prudential
Phone: 08457 000 777
The Prudential mortgage range is fairly meagre, and they are primarily interested in high-budget, safe customers. The more you borrow, the better the deal; and there is some focus on investment-led mortgages. Definitely not for non-status customers; the more predictable your needs, the more chance that the Pru can help you.
A Prudential mortgage probably isn't the first thing you'd think of, but they do offer a small selection of products. If you want to hedge your bets you might like to know that they offer a part-and-part fulfilment on all products, where you can choose to repay part of the loan in full (repayment) and part using another investment vehicle (interest only). In an uncertain investment market, this reduces your risk if you want a market-based mortgage.
The key offering is a "Flexible Lifetime Guarantee Mortgage", the main features being flexibility (including up to a 6 month payment holiday) and a guaranteed discount against the standard variable rate for the duration of the loan. There are also no early redemption penalties.
Of the three other Prudential mortgage products, none are remarkable (and the lump sum cashback has draconian redemption fees). This is also not good value for borrowers of small amounts- the benefits really only kick in at above £25,000. The Prudential are interested in safe, higher-budget customers.
