BUY TO LET
Bristol & West
Product: Buy-to-Let
Description: Five-year fixed rate until 30/03/2006.
Rate: Initial rate of 6.19%
Max LTV: 75%
Completion fee: £399
Redemption fee: 7% until 30/06/2002, then 6% until 30/06/2004, then 5% until 30/06/2006.
Procuration fee: Varies
Other: Minimum loan £100,000. £100 administration fee upon redemption.
Contact: 0117 943 7990
Exclusive Connections
Product: Buy-to-Let
Funded by: Mortgage Express
Description: Flexible two-year discount of 1.25%.
Rate: Initial rate of 7%.
Max LTV: 80%
Completion fee: £325
Redemption fee: Six months’ interest at the SVR for three years.
Procuration fee: 0.25%
Other: Overpayments, underpayments and payment holidays allowed. Unlimited properties up to £1m. A completion fee can be added to the loan.
Contact: 0870 330 1817
Skipton Building Society
Product: Buy-to-Let
Description: Discount of 0.3% for one year.
Rate: Initial rate of 6.9%.
Max LTV: 80%
Completion fee: £125
Redemption fee: One month’s interest or notice.
Procuration fee: By negotiation.
Contact: 0800 446 776
CAPPED RATE
Cheltenham & Gloucester
Product: Four-year capped rate
mortgage
Description: Capped until 31/10/2005.
Rate: Initial rate of 5.99% (to 90% LTV), or 6.19% (to 95% LTV).
Max LTV: 95%
Completion fee: £199
Redemption fee: Reduces by 1% per annum, 4% in year one, 3% in year two, 2% in year three and 1% in the final year.
Procuration fee: £150 (or £500 on mortgages over £200,000 if completed before the end of June).
Other: Free legals or £150 towards costs.
Contact: 01452 373 187
DISCOUNT
Bristol & West
Product: Two-year discount mortgage
Description: 1.25% discount off base rate for two years following completion.
Rate: Initial rate of 5.75%.
Max LTV: 75%
Arrangement fee: £299
Redemption fee: Up to 50% can be repaid early per annum with no charges, as long as there is 50% of the balance outstanding on the account on 1 April each year. If fully repaid the redemption charge will be 5% of the sum repaid for two years from completion.
Procuration fee: Varies
Contact: 0117 943 7990
Exclusive Connections
Product: Three-year discount
Funded by: Leeds & Holbeck Building Society
Description: 1.25% discount (90% LTV) or 1% discount (95% LTV) for three years.
Rate: Initial rate of 5.59% (90% LTV) or 5.84% (95% LTV).
Max LTV: 95%
MIG: Free to 75%.
Procuration fee: £100
Other: £250 cashback. Open to employed, self-employed and first time buyers.
Contact: 0870 330 1817
Mortgages plc
Product: Super Discount 75
Description: Discount of 2% for one year, available to adverse market.
Discount: 2% for one year.
Rate: 6.74%
Max LTV: 75%
Redemption penalty: Six months’ interest in first three years and one month’s interest or one month’s notice thereafter.
Procuration fee: Varies
Arrangement fee: £295
Other: Available for purchase or remortgage, full status and self-certification, up to £5,000 of CCJs, up to two months’ arrears at application.
Contact:0845 6050 402
Skipton Building Society
Product: The Head Start Mortgage
Description: Discount mortgage for remortgage and first time buyers.
Discount: 1.30% for six months, followed by 0.30% until the end of year two.
Rate: Current variable interest rate is 6.90%.
Max LTV: 95%
Redemption penalty: Interest to the end of the month.
Procuration fee: By negotiation.
Arrangement fee: None
Other: Free legal fees for remortgages up to 85%LTV, free buildings insurance for 12 months or free ASU for six months or 40% off house and contents for 12 months.
Contact: 0800 446 776
FIXED RATE
Bristol & West
Product: Five-year fixed rate
Description: Fixed until 30/06/2006.
Rate: Initial rate of 5.89%.
Max LTV: 95%
Arrangement fee: £299
Redemption fee: 7% until 30/06/2002, then 6% until 30/06/2004, and 5% until 30/06/2006.
Procuration fee: Varies
Other: £100 administration fee upon redemption.
Contact: 0117 943 7990
Britannic Money
Product: Fixed rate tracker mortgage
Description: Three-year fixed rate tracker mortgage with no redemption penalty.
Rate: 5.99% for three years, then 1.74% above base rate, or 1.24% up to 75% LTV.
Max LTV: 95%
Redemption penalty: None
Procuration fee: Varies
Arrangement fee: None
Other: Currrent account option, £150 cashback for property valuation costs, £200 cashback for legal fees or a free remortgage legal service, banking facilities for instant access to overpayments, no compulsory insurance.
Contact: 0800 550 551
Cheltenham & Gloucester
Product: Fixed rate mortgages
Description: Two, three or five-year fixed rate.
Rate: Initial rate 5.69% (90% LTV) or 5.89% (95% LTV) for two years, or 5.79% (90% LTV) or 5.99% (95% LTV) for three and five years for loans of £60,000 and above.
Max LTV: 95%
Completion fee: £199
Redemption fee: Reduces by 1% per annum, for example 3% in year one, 2% in year two and 1% in final year.
Procuration fee: £150 (or £500 on mortgages over £200,000 if completed before the end of June).
Other: Free legals or £150 towards costs.
Contact: 01452 373 187
GMAC Residential Funding
Product: Fixed rate mortgage
Description: Two-year fixed rate mortgage.
Rate:4.99% until 01/10/2003.
Max LTV: 75%
Redemption fee: 5% until 01/10/2003.
Procuration fee: 0.35%
Arrangement fee: £295
Contact: 01344 477 477
GMAC Residential Funding
Product: Fixed rate mortgage
Description: Two-year fixed rate mortgage with no redemption charge.
Rate: 5.24% until 01/10/2003.
Max LTV: 75%
Redemption penalty: None
Procuration fee: 0.35%
Arrangement fee: £295
Contact: 01344 477 477
GMAC Residential Funding
Product: Fixed rate mortgage
Description: Two-year fixed rate mortgage.
Rate: 5.19% until 01/10/2003.
Max LTV: 95%
MIG: Above 90% LTV.
Redemption penalty: 5% until 01/10/2003.
Procuration fee: 0.35%
Arrangement fee: £295
Contact: 01344 477 477
Pink Home Loans
Product: Fixed rate mortgage
Funded by: Skipton Mortgages
Description: Three-year fixed rate mortgage, available to adverse market.
Rate: 6.75% until 31/07/2004.
Max LTV: 85%
MIG: Above 80% LTV.
Redemption penalty: 5% in year one, 4% in year two and 3% in year three.
Procuration fee: 1%, with a minimum of £500.
Arrangement fee: £395
Other: Three months’ arrears in last 12 months and unlimited CCJs totalling £10,000 allowed.
Contact: 08707 590 170
Platform Home Loans
Product: One-year fixed/capped rate mortgage
Description: Borrowers can choose a fixed or capped rate until 1/07/2002.
Rate: Initial rate of 7.25% (to 80% LTV), or 7.49% (to 95% LTV).
Max LTV: 95%
Completion fee: £395
Redemption fee: 6% in year one, 6% in year two, 5% in year three and one month’s notice or 1% thereafter.
Procuration fee: 1% (minimum £500).
Other: Loans available up to £200,000. Available to first time buyers.
Contact: 0845 600 7100 or visit
www.platformhomeloans.com
Sun Bank
Product: Five-year fixed rate mortgage
Description: Fixed until 1/09/2001.
Rate: Initial rate of 5.74% (to 75% LTV), or 6.24% (to 95% LTV).
Max LTV: 95%
MIG: Free to 90%.
Completion fee: £395
Redemption fee: 5%
Procuration fee: 0.25%
Contact: 0845 6010 763 or visit
www.sunbank.com
Standard variable rate
Exclusive Connections
Product: 100% mortgage
Funded by: The Mortgage Business
Description: LTV of 100% based on lenders’ SVR.
Rate: Initial rate of 7.24%.
Max LTV: 100%
MIG: Free to 75%.
Completion fee: £299
Redemption fee: Three months’ interest in year one, two months’ interest in year two, and one month in year three.
Procuration fee: 0.5%
Other: The maximum loan available is £100,000. A completion fee can be added.
Contact: 0870 330 1817
TRACKER
Bristol & West
Product: Base rate tracker
Description: Two-year base rate tracker at base rate plus 0.15% then base rate plus 1%.
Rate: Initial rate of 5.40%.
Max LTV: 95%
MIG: Free to 85%.
Completion fee: £299
Redemption fee: 5% until 30/06/2003.
Procuration fee: Varies
Other: £100 administration fee upon redemption.
Contact: 0117 943 7990
Sun Bank launches Fix & Flex
Sun Bank has launched a new mortgage that combines elements of a fixed rate mortgage with those of a flexible product.
The Fix & Flex mortgage can be tailored to suit the individual needs of the client, and allows them to fix up to half of the loan, while the remainder is calculated at the prevailing flexible mortgage variable rate.
The fixed rate is stepped with an initial rate of 4.74% payable until 1/1/2002, and then 5.74% until 1/9/2003, while the initial variable rate is 6.24%. Interest is calculated daily across both portions.
On the variable rate portion borrowers can make underpayments, overpayments, lump sum withdrawals and take payment holidays. The maximum loan to value is 90% on loans of up to £250,000, and there is an arrangement fee of £295. Redemption penalties on the fixed portion are charged at 5% of repayments until September 2003.
Introducing brokers can earn a procuration fee of 0.25%.
Contact: 0845 6010 763 or
visit www.sunbank.com
