"cash to leave" mortgage offer
A company that specialises in buying home loans from mortgage lenders is offering some customers a 15% discount if they redeem their mortgages early.
Oakwood, majority owned by the investment bank Credit Suisse, is copying the recent example of the sub-prime lender Edeus.
Last month Edeus offered 8% discounts to some of its customers if they took their mortgages elsewhere.
The Oakwood offer applies to 250 of its current borrowers.
Letters to the borrowers are coming from Engage Credit, whose chief executive Jason Miller said he had been asked to encourage borrowers to leave.
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