BUY TO LET
Coventry Building Society
Product: Buy-to-let flexx
Description: Flexible buy to let.
Rate: 5.99%
Max LTV: 85%
Redemption penalty: None
Procuration fee: Negotiable
Arrangement fee: £325
Other: £50 mortgage admin-istration fee, never more than 3% above BBR, discounted legal fees available, valuation fee payable.
Contact: 0845 766 5522
Product: Fixed rate buy to let
Description: Fixed to 30/9/2007.
Rate: 6.49%
Max LTV: 85%
Redemption penalty: Six months’ interest to 30/9/2007.
Procuration fee: Negotiable
Arrangement fee: £325
Other: £50 mortgage admin- istration fee, discounted legal fees available, valuation fee payable.
Contact: 0845 766 5522
Northern Rock
Product: Buy-to-let fixed rate mortgage
Description: Fixed to 1/12/2004.
Rate: 3.29%
Max LTV: 75%
Redemption penalty: 3%/6%/ 4%/3%/2%1% of amount repaid in the first six years, 15% capital repayment allowed annually without penalty.
Procuration fee: 0.3%, minimum £175.
Arrangement fee: £495
Other: Rate will always be the lower of BBR + 1.99% or SVR, annual interest.
Contact: 0845 600 1516
Product: Buy-to-let BBR tracker
Description: BBR + 1.5% to 1/12/2007.
Rate: 5.5%
Max LTV: 75%
Redemption penalty: None
Procuration fee: 0.3%, minimum £175.
Arrangement fee: £495
Other: Annual interest, portable.
Contact: 0845 600 1516
Pink Home Loans
Product: Exclusive buy-to-let discount mortgage
Funded by: Mortgage Express
Description: 0.55% discount for three years.
Rate: 5.2%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.5%
Arrangement fee: £399
Other: No MIG, overpay, underpay and drawdown available.
Contact: www.pink.uk.net
CAPPED
Coventry Building Society
Product: Capped rate mortgage
Description: Capped at 5.85% to 30/9/2007.
Rate: 4.85%
Max LTV: 95%
Redemption penalty: Six months’ interest to 30/9/2007.
Procuration fee: Negotiable
Arrangement fee: £295
Other: Minimum rate payable is 3.85%, discounted legal fees for remortgagers.
Contact: 0845 766 5522
Product: Capped rate mortgage
Description: Capped at 5.75% to 30/9/2005.
Rate: 4.49%
Max LTV: 95%
Redemption penalty: Six months’ interest to 30/9/2005.
Procuration fee: Negotiable
Arrangement fee: £295
Other: Minimum rate payable is 3.5%, free remortgage transfer service, free valuation.
Contact: 0845 766 5522
DISCOUNT
Exclusive Connections
Product: Exclusive self-cert remortgage
Funded by: The Mortgage Business
Description: 0.6% discount to 2003 (BBR + 0.89%).
Rate: 4.89%
Max LTV: 85%
Redemption penalty: Four, three, two months’ gross interest in the first three years respectively, then one month’s interest or notice.
Procuration fee: Negotiable
Arrangement fee: £299
Other: Up to three CCJs to £1,000, subject to explanation, MIG from 70.01%, daily interest.
Contact: 0800 587 7272
GMAC-RFC
Product: STAR self-cert discount mortgage
Description: 1.5% discount up to 75% LTV, 1% discount to 85% LTV, both to 1/1/2004.
Rate: 4.24%/4.74%
Max LTV: 85%
Redemption penalty: 3% in year one, 2% in year two, up to 25% partial redemption allowed without penalty.
Procuration fee: 0.5%
Arrangement fee:£395
Other: No income statement and no references required, no MIG.
Contact: 01344 477 477
Pink Home Loans
Product: Exclusive 100% and discount for two years.
Funded by: Mortgage Express
Description: 1.55% discount
Rate: 4.45% (underlying rate of BBR + 1.75% to 95% LTV, BBR + 2% to 105% LTV).
Max LTV: 105%
Redemption penalty: Six months’ interest at SVR for three years.
Procuration fee: 0.3%
Arrangement fee: £325
Other: No MIG, up to one CCJ or default allowed, must be satisfied for at least 12 months.
Contact: www.pink.uk.net
Product: Direct exclusive fees free remortgage
Funded by: Mortgage Express
Description: 0.39% discount for one year.
Rate: 4.6%
Max LTV: 95%
Redemption penalty: None
Procuration fee: 0.3%
Arrangement fee: None
Other: Free valuation and legal fees, no MIG, up to one CCJ or default allowed must be satisfied at least 12 months.
Contact: www.pink.uk.net
Skipton Building Society
Product: Flexible two-year discount remortgage
Description: 2.25% discount of year one, 1% discount in year two, 0.3% in year three and four, 0.5% from five onwards.
Rate: 3.45%
Max LTV: 95%
Redemption penalty: 4% in year one, 3% in year two, 2% in year three and 1% in year four, up to 10% annual capital repayment allowed annually without penalty.
Procuration fee: Negotiable, extra £100 for cases before 31/12/2002.
Arrangement fee: None
Other: Free legal fees (£250 cashback in Scotland).
Contact: 0800 446776
FIXED
Genesis Home loans
Product: Columbia fixed rate mortgage
Description: Fixed to 1/9/2004.
Rate: 5.99%
Max LTV: 85%
Redemption penalty: 6%/5%/ 4% in years one to three respectively, then one month’s notice or interest.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: First-time buyers acceptable, maximum three missed mortgage payments in previous 12, any number of CCJs to £7,500 in last three years, bankruptcy cleared more than one year.
Contact: 01832 275 044
Product: Discovery fixed rate
Description: Fixed to 1/9/2004.
Rate: 5.74%
Max LTV: 90%
Redemption penalty: 6%/5%/ 4% in years one to three respectively, then one month’s notice or interest.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: Available to first-time buyers, maximum two missed mortgage payments in previous 12, any number of CCJs to £3,000 in last three years, bankruptcy cleared more than one year.
Contact: 01832 275 044
Product: Endeavour self-cert, or buy-to-let fixed rate mortgage
Description: Fixed until 1/9/2004.
Rate: 6.49%
Max LTV: 85% self-cert/ 80% buy to let/75% self-cert buy to let.
Redemption penalty: 6%/5%/ 4% in years one to three respectively, then one month’s notice or interest.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: First-time buyers not acceptable on buy to let, maximum three missed mortgage payments in previous 12, any number of CCJs to £7,500 in last three years, bankruptcy cleared more than one year.
Contact: 01832 275 044
GMAC-RFC
Product: STAR self-cert fixed rate mortgage
Description: Fixed to 1/1/2005.
Rate: 5.49% to 75% LTV, 5.89% to 85% LTV.
Max LTV: 85%
Redemption penalty: 5% of amount redeemed until 1/1/2005.
Procuration fee: 0.5%
Arrangement fee: £395
Other: No income statement required, no MIG, no references.
Contact: 01344 477 477
Norwich & Peterborough
Product: Fixed rate mortgage
Description: Fixed for 10 years.
Rate: 5.24%
Max LTV: 90%
Redemption penalty: 5% of the current balance in the first seven years, 4% in year eight, 3% in years nine and 10.
Procuration fee: 0.25%, minimum £125, maximum £1,000.
Arrangement fee: £325
Other: Flexible features include overpayments to fund payment holidays and underpayments.
Contact: 0845 300 3444
Product: Fixed rate mortgage
Description: Fixed for five years.
Rate: 4.98% to 90% LTV, 5.18% to 95% LTV.
Max LTV: 90%
Redemption penalty: 5% of the current balance in the first seven years, 4% in year eight, 3% in years nine and 10.
Procuration fee: 0.25%, minimum £125, maximum £1,000.
Arrangement fee: £325
Other: Flexible features include overpayments to fund payment holidays and underpayments.
Contact: 0845 300 3444
New fixed rate range launched by Preferred
Non-conforming lender Preferred Mortgages, has announced the release of its new range of fixed rate products.
Available from 9 September, rates start from only 5.49%, rising to 7.49%, fixed until 31/10/2003. The rates are available to customers that do not meet conventional high street lending criteria. The loan can accommodate any level of adverse credit, any number of CCJs, any amount of arrears, bankruptcy discharged and IVAs that have been well conducted for six months.
The mortgage is available at up to 85% LTV. Early redemption penalties on the range are set at 6% in years one, two and three, with 1% payable thereafter.
Simon Biddle, marketing development manager for Preferred, said: ‘Our new fixed rate products offer some of the lowest available rates to credit impaired borrowers.’
The range attracts an arrangement fee of £495. A high LTV fee of 5% applies to loans of between 75% and 80% LTV, and 5.5% on those from 80% to 85% LTV. Procuration fees for advisers are negotiable.
Contact: 01444 44 77 50
