BUY-TO-LET
Exclusive Connections
Product: Buy-to-let
Funded by: Bristol & West CMS
Description: BBR + 0.7% for three years followed by BBR + 1.2% for two years, reverts to BBR +1.75%.
Rate: 5.2%.
Max LTV: 85%
Redemption penalty: 5% of sum repaid in years one and two, 4% in years three and four and 3% in year five, plus £100 administration fee.
Procuration fee: Negotiable
Arrangement fee: £299
Contact: 0870 330 1817
Genesis Home Loans
Product: Genesis Prospector buy-to-let fixed mortgage
Funded by: GMAC RFC
Description: Fixed to 1/1/2004.
Rate: 5.75% to 75% LTV, 6.15% to 85% LTV.
Max LTV: 85%
Redemption penalty: 5% during fixed rate period.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: One CCJ of less than £300, with explanation, or one month’s arrears in 12 months allowed.
Contact: 01832 275 044
Pink Home Loans
Product: Buy-to-let discount mortgage
Funded by: Mortgage Express
Description: Three or five-year discount.
Rate: 0.76% discount. Underlying rate is BBS + 1.5% up to 75% LTV, + 1.75% up to 80% LTV.
Max LTV: 80%
Redemption penalty: Six months’ interest at underlying variable rate.
Procuration fee: 0.5%
Arrangement fee: 0.5%
Other: Unlimited properties, maximum mortgage £1m.
Contact: 08707 590 170
DISCOUNT
Exclusive Connections
Product: Exclusive stepped discount
Funded by: Leeds & Holbeck Building Society
Description: 2.5% discount to standard variable rate year one, 0.75% discount years two and three, 0.5% discount year four.
Rate: 3.65%.
Max LTV: 95%
Redemption penalty: Six months’ interest in year one, five months’ in year two, four in year three, three in year four.
Procuration fee: Negotiable
Other: No compulsory insurance, no extended tie in, no MIG up to 90%.
Contact: 0870 330 1817
Genesis Home Loans
Product: Genesis Pioneer discount
Funded by: GMAC RFC
Description: Discounted until 1/1/2004.
Rate: 4.24% to 90% LTV, 4.49% to 95% LTV.
Max LTV: 95%
Redemption penalty: 5% redemption charge during the discount period.
Procuration fee: Refer to packager.
Arrangement fee: £295
Other: One CCJ of less than £300, with explanation, or one month’s arrears in 12 months allowed.
Contact: 01832 275 044
Product: Genesis Pathfinder self-cert discount
Funded by: GMAC RFC
Description: Discount to 1/1/2003.
Rate: 1.5% discount to 75% LTV, 0.75% to 85% LTV, 0.25% to 90% LTV.
Max LTV: 90%
Redemption penalty: 3% redemption charge year one, 2% in year two. Up to 25% free annual redemption.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: Self-cert, £250 cashback. One CCJ of less than £300, with explanation, or one month’s arrears in 12 months allowed.
Contact: 01832 275 044
Market Harborough BS
Product: Discount mortgage
Description: 2.5% discount for two years’ mortgage.
Rate: 3.74%.
Max LTV: 80%
Redemption penalty: 5% year one, 4% year two, 3% year three, 2% year four, 1% year five, then one month’s interest or one month’s notice.
Procuration fee: £150 above £30,000 plus £30 if building and contents included plus £75 if LTV is less than 75% or if loan is above £75,000.
Arrangement fee: None
Other: First three months’ free buildings and contents insurance. The valuation fee is refunded.
Contact: 01858 463 244
Mortgage Next
Product: Full status discount
Funded by: Mortgage Express
Description: 18-month discount with no redemption overhang.
Rate: 4.5%, 1.75% discount to 95% LTV.
Max LTV: 95%
Redemption penalty: Three months’ SVR during first 18 months.
Procuration fee: £150
Arrangement fee: £325
Other: No MIG, purchase or remortgage.
Contact: 0845 130 2223
FIXED RATE
Exclusive Connections
Product: Fixed rate
Funded by: Bristol & West CMS
Description: Fixed for one year followed by BBR +0.45% for two years.
Rate: 4.99%.
Max LTV: 95%
Redemption penalty: 5% of sum repaid in years one and two, 4% in year three.
Procuration fee: Negotiable
Arrangement fee: £299
Other: Three months’ arrears in the last three years allowed. Must be up-to-date at application. FTB with arrears not accepted. One CCJ up to £250 accepted.
Contact: 0870 330 1817
Genesis Home Loans
Product: Genesis Challenger self-cert fixed
Funded by: GMAC RFC
Description: Fixed to 1/1/2004.
Rate: 5.75% to 75% LTV, 6.15% to 85% LTV.
Max LTV: 85%
Redemption penalty: 5% during fixed rate period only.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: No MIG, one CCJ of less than £300 with explanation, or one month’s arrears in 12 months allowed.
Contact: 01832 275 044
Genesis Home Loans
Product: Genesis Pioneer fixed
Funded by: GMAC RFC
Description: Fixed to 1/1/2004.
Rate: 4.74% to 75% LTV, 4.94% to 95% LTV.
Max LTV: 95%
Procuration fee: Refer to packager.
Arrangement fee: £295
Other: One CCJ of less than £300, with explanation, or one month’s arrears in 12 months allowed.
Contact: 01832 275 044
Norwich and Peterborough BS
Product: Spanish fixed rate mortgage
Description: Fixed for two or five years.
Rate: 4.99% for two years, or 5.99% for five years.
Max LTV: 65%
Redemption penalty: Six months’ interest in the first five years.
Procuration fee: 0.25%, minimum £125, and maximum £1,000.
Arrangement fee: £125 on two-year mortgage, £225 on five-year mortgage.
Other: Up to 20 years’ repayment period, mortgage is in sterling.
Contact: 01733 372006
Product: Two-year fixed rate mortgage
Description: Rates according to LTV and a five-year redemption penalty period.
Rate: 3.23% to 90% LTV, 3.63% to 95% LTV.
Max LTV: 95%
Redemption penalty: Six months’ interest in first five years.
Procuration fee: 0.25%, £125 minimum, and £1,000 maximum.
Arrangement fee: £295
Contact: 0845 300 2522
Product: Three-year fixed rate
Description: Rates according to LTV and a five-year redemption penalty period.
Rate: 4.38% to 90% LTV, 4.78% to 95% LTV.
Max LTV: 95%
Redemption penalty: Six months’ interest in the first five years.
Procuration fee: 0.25%, £125 minimum, and £1,000 maximum.
Arrangement fee: £295
Contact: 0845 300 2522
TRACKER
Exclusive Connections
Product: Base rate tracker
Funded by: Bristol & West CMS
Description: Bank of England base rate + 0.49% for three years.
Rate: 4.99%.
Max LTV: 95%
Redemption penalty: 5% of sum repaid in years one and two, 4% in year three plus a £100 administration fee.
Procuration fee: Negotiable
Arrangement fee: £299
Other: Three months’ arrears in the last three years allowed. Must be up-to-date at application.
Contact: 0870 330 1817
Legal & General
Product: Self-certification tracker mortgage
Description: 0.5% above BBR for three years.
Rate: 5%.
Max LTV: 75%
Redemption penalty: 5% of the amount repaid in the first 24 months and 4% in the next 12 months.
Procuration fee: 0.5%
Other: Reverts to BBR plus 1.75%.
Contact: 0845 300 9977
Pink Home Loans
Product: Flexible tracker mortgage
Funded by: First National Mortgage Company
Description: BBR + 1.24%.
Rate: 5.74%.
Max LTV: 90%
Procuration fee: 0.3%, minimum £250, and maximum £750.
Arrangement fee: £295
Other: Three CCJs up to £3,000 in last three years considered, no arrears, no adverse credit in last 12 months.
Contact: 08707 590 170
HSHL caters for the credit impaired
High Street Home Loans (HSHL) has launched three new products to cater for people with historical minor adverse credit problems. The products are all two-year fixed rates and include buy-to-let and self-certification options.
The first, a straight fixed deal, offers interest at 4.49% until 1/1/2004, up to 75% LTV, and 4.69% up to 95% LTV. There is a 5% redemption charge in the fixed period. The same deal comes with no redemption penalties at 4.74% and 4.94% respectively. A procuration fee of 0.25% applies.
HSHL is also offering a two-year buy-to-let fixed rate, with a 0.5% procuration fee and a rate of 5.75% up to 75% LTV, or 6.15% up to 85% LTV. The rate will apply until 1/1/2004.
The third product is a two-year fixed self-certification mortgage with a rate of 5.75% up to 75% LTV and 6.15% for loans up to 85% LTV.
Gary Forrest, HSHL’s sales and marketing director, said: ‘I do not see why people who may have had some minor problems with their finances years ago should not benefit from a good rate of interest today. That we are able to offer such good headline rates is a clear sign this market has matured at a rapid rate in recent years.’
Contact: 0191 423 9220
