BUY-TO-LET
Bristol & West
Product: Buy-to-let mortgage
Description: Fixed to 4/2007.
Rate: 5.89%
Max LTV: 85%
Redemption penalty: 7% until 30/4/2003, 6% until 30/4/2005, 5% until 30/4/2007.
Arrangement fee: £399
Contact: 0117 943 7878
Clydesdale Bank
Product: Capped buy-to-let
Description: Capped for five years.
Rate: 6.75%
Max LTV: 80%
Redemption penalty: 5%, 5%, 4%, 3%, 2% over five years.
Procuration fee: By negotiation.
Arrangement fee: 1% minimum, £200.
Contact: 0800 419 000
Pink Home Loans
Product: Exclusive buy-to-let
Funded by: Mortgage Express
Description: Fixed to 3/3/2002.
Rate: 2.99%
Max LTV: 80%
Redemption penalty: Six months’ interest at underlying variable rate until 3/3/2005.
Procuration fee: 0.5%
Arrangement fee: £325
Other: Underlying rate up to 75% LTV BBR + 1.5%, underlying rate up to 80% LTV BBR + 1.75%.
Contact: 08707 950 170
CAPPED
Portman BS
Product: Capped rate mortgage
Description: Two-year capped rate mortgage with discount.
Rate: Currently 4.19% with 1.46% discount ‘ capped at 5.19% until 1/5/2004.
Max LTV: 95%
Redemption penalty: 3% of capital repaid until 1/5/04. Option to repay 10% of the loan before 1/5/2004 without redemption penalty.
Procuration fee: 0.25%
Arrangement fee: £300
Contact: 01202 563 859
DISCOUNT
Genesis Home Loans
Product: Planet & Moons Mercury product
Funded by: Platform Home Loans
Description: Discount until 1/10/2003.
Rate: 6.12% including discount
Max LTV: 95%
Redemption penalty: 6%, 6%, 5%, 4% thereafter 1% of amount redeemed, or one month’s notice in lieu.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: Full status, no CCJs in last 12 months, max £3,000, minimum loan £40,000, maximum £200,000.
Contact: 01832 275 044
Pink Home Loans
Product: Discounted rate mortgage
Funded by: The Mortgage Business
Description: 1% discount until 1/5/2002.
Rate: 5%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.5% maximum £2,500.
Arrangement fee: 1% advance for each property.
Other: Minimum loan £25,001, maximum £250,000, maximum 10 properties per portfolio to £2.5m.
Contact: 08707 950 170
Product: Planet & Moons Neptune product
Funded by: Platform Home Loans
Description: 1.50% discount until 1/4/2004.
Rate: Full status 6.37%, self-cert 6.87%.
Max LTV: 85%
Redemption penalty: 6%, 6%, 5%, 4% thereafter 1% of amount redeemed, or one month’s notice in lieu.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: CCJs maximum £7,000, two months’ mortgage arrears cleared by completion.
Contact: 01832 275 044
Royal Bank of Scotland
Product: Limited edition discount mortgage
Description: Discounted until 6/2003.
Rate: 3.45%
Max LTV: 95%
Redemption penalty: 3% until 2003, 2% until 2004.
Procuration fee: Sliding scale.
Arrangement fee: None
Other: Applications must be received by 1/6/2002.
Contact: 0131 556 8555
Skipton Building Society
Product: Discounted rate mortgage
Description: 2.30% discount year one, 1.15% discount year two, 0.5% discount years three and four.
Rate: 3.40%
Max LTV: 85%
Redemption penalty: 4% year one, 3% year two, 2% year three, 1% year four.
Procuration fee: £100
Arrangement fee: None
Other: Free MIG up to 90% LTV, flexible benefits, free legal fees for remortgages.
Contact: 0800 446 776
Product: Discounted rate mortgage
Description: 2.00% discount in year one, 1.00% discount in year two, 0.5% in years three and four.
Rate: 3.70%
Max LTV: 95%
Redemption penalty: 4% year one, 3% year two, 2% year three, 1% year four.
Procuration fee: £100
Arrangement fee: None
Other: Free MIG up to 90% LTV, flexible benefits, free legal fees for remortgages.
Contact: 0800 446 776
Product: Discounted rate mortgage
Description: 1.85% discount, year one, 0.85% discount in year two, 0.5% in years three and four.
Rate: 3.85%
Max LTV: 95%
Redemption penalty: 4% year one, 3% year two, 2% year three, 1% year four.
Procuration fee: £100
Arrangement fee: None
Other: Free MIG up to 90% LTV, flexible benefits, free legal fees for remortgages.
Contact: 0800 446 776
FIXED
Bristol & West
Product: Fixed rate mortgage
Description: Five-year fixed until 30/4/2007.
Rate: 5.49%
Max LTV: 95%
Redemption penalty: 7% until 30/4/2003, 6% until 30/4/2005, 5% until 30/4/2007.
Arrangement fee: £399
Contact: 0117 943 7878
Product: Fixed rate mortgage
Description: Seven-year fixed until 30/4/2009.
Rate: 5.49%
Max LTV: 95%
Redemption penalty: 7% until 30/4/2004, 6% until 30/4/2006, 5% until 30/4/2009.
Arrangement fee: £399
Contact: 0117 943 7878
Halifax
Product: Fixed rate mortgage
Description: Fixed until 30/6/2003.
Rate: 4.70%
Max LTV: 97%
Redemption penalty: 1% to 30/6/2003.
Procuration fee: Negotiable
Arrangement fee: £195
Other: After fixed rate 1.00% above BBR until 31/12/2005.
Contact: Local branch
Product: Fixed rate mortgage
Description: Fixed until 30/6/2004.
Rate: 5.9%
Max LTV: 75%
Redemption penalty: 2% to 30/6/2003, 1% to 30/6/2004.
Procuration fee: Negotiable
Arrangement fee: £195
Contact: Local branch
Portman Building Society
Product: Fixed rate mortgage
Description: Five-year fixed with no extended redemption penalty.
Rate: 5.65% until 1/5/2007.
Max LTV: 95%
Redemption penalty: 5% of capital repaid until 1/5/2007.
Procuration fee: 0.25%
Arrangement fee: £300
Contact: 01202 563 859
SELF CERTIFICATION
Pink Home Loans
Product: Self-certification discount mortgage
Funded by: Mortgage Express
Description: BBR + 2% for two years.
Rate: 4.45%
Max LTV: 90%
Redemption penalty: Six months at variable rate for two years.
Procuration fee: 0.5%
Arrangement fee: £325
Other: Available to self-employed and PAYE, no MIG, flexible payments.
Contact: 08707 950 170
Product: Self-certification discount mortgage
Funded by: The Mortgage Business
Description: BBR + 1% until 1/3/2003 followed by BBR + 1.49%.
Rate: 5.00%
Max LTV: 85%
Redemption penalty: Year one ‘ four months, year two ‘ three months, year three ‘ two months.
Procuration fee: 0.5%
Arrangement fee: £299
Other: Available to self-employed and employed, valuation fee refund, direct submission only.
Contact: 08707 950 170
Product: Fixed rate, self-certification mortgage
Funded by: Verso
Description: Fixed for three years.
Rate: 4.99%
Max LTV: 85%
Redemption penalty: 5% of amount repaid for five years from completion, one month’s notice, or interest thereafter.
Procuration fee: 0.45%
Arrangement fee: £325
Other: Minimum loan £25,001, maximum £500,000 up to 75% LTV, daily interest.
Contact: 08707 950 170
Wiping the slate with Mortgage Express
The latest innovation in the non-conforming market has come from Mortgage Express, with the launch of its ˜Clean Slate’ mortgage.
The product is aimed at customers who have overcome previous credit problems and is available to all customers who can provide a clean 12-month credit history.
Lending up to 90% of the property’s value, the product has no mortgage indemnity charge.
Pricing is linked to the Bank of England base rate and borrowers can choose flexible payments, allowing them to under or over-pay, take a payment holiday or borrow extra cash.
David Connolly, product manager at MortgageExpress, said: ‘This is the first time we have offered a mortgage aimed at customers who have had past problems with credit. It is designed to help people who have cleared their debts and want to start again ‘ that is why we have called it ˜Clean Slate’.’
The mortgage is available to clients who have experienced an unlimited number of CCJs up to a maximum value of £10,000. CCJs do not have to be satisfied, but no new ones should have been experienced in the last 12 months.
The standard rate is 2.25% above Bank of England base rate, and Mortgage Express is offering a five-year discount of 0.75%, or a five-year fixed rate at 6.49%. A two-year fixed rate product at 5.49% is also available.
Contact: 0500 0500 20