BUY TO LET
Coventry Building Society
Product: Buy-to-let Flexx mortgage
Description: Guaranteed to be no more than 3% above BBR.
Rate: 4.95%
Max LTV: 85%
Redemption penalty: None
Procuration fee: Negotiable
Arrangement fee: £500
Other: Daily interest, discounted legal fees for remortgage and £50 mortgage admin. fee payable.
Contact: 0845 766 5522
Mortgage 2000
Product: Exclusive buy-to-let five-year discount mortgage
Funded by: Verso
Description: 1.25% discount for five years to 80% LTV or 0.95% discount to 85% LTV.
Rate: 4.73% or 5.03%
Max LTV: 80%
Redemption penalty: 5% of the outstanding loan in the first three years.
Procuration fee: 0.25%
Arrangement fee: 1%, minimum £500.
Other: £70 booking fee upfront.
Contact: 01244 665 700
Pink home Loans
Product: Exclusive buy-to-let discount mortgage
Funded by: Mortgage Express
Description: 0.51% discount for either three or five years.
Rate: 5.24%
Max LTV: 85%
Redemption penalty: Six months’ interest at underlying variable rate during the discount period.
Procuration fee: 0.5%
Arrangement fee: £399
Other: No MIG, unlimited number of properties to £2,000,000.
Contact: www.pink.uk.net
CAPPED
Coventry Building Society
Product: Flexx five-year capped mortgage
Description: 5.49% capped to 31/12/07.
Rate: 5.49%
Max LTV: 95%
Redemption penalty: None
Procuration fee: Negotiable
Arrangement fee: £295
Other: Minimum rate payable is 4%, free valuation, free remortgage transfer service and daily interest.
Contact: 0845 766 5522
DISCOUNT
Britannic Money
Product: Flexible restart Homeloan FRESH mortgage
Description: LIBOR plus loading sub-prime credit repair mortgage, 1.55% discount for one year available.
Rate: From 4.96%
Max LTV: 90%
Redemption penalty: 6% in the first three years, up to 10% repayments annually with no penalty.
Procuration fee: 0.5%
Arrangement fee: £450
Other: CCJs over two years old or satisfied a year ago ignored, current account option after one year.
Contact: 0870 411 2486
Coventry Building Society
Product: Three-year discount mortgage
Description: 1.3% discount to 31/05/05.
Rate: 4.45%
Max LTV: 95%
Redemption penalty: None
Procuration fee: Negotiable
Arrangement fee: £295, no arrangement fee if existing member.
Other: Free remortgage transfer service, free valuation.
Contact: 0845 766 5522
Mortgage 2000
Product: Exclusive five-year discount mortgage
Funded by: Verso
Description: 1.25% discount for five years.
Rate: 4.73%
Max LTV: 95%
Redemption penalty: 5% of the outstanding loan in the first two years.
Procuration fee: 0.5%, minimum £350.
Arrangement fee: £325
Contact: 01244 665 700
Mortgage 2000
Product: Exclusive stepped discount mortgage
Funded by: SPML
Description: 1.75% discount until 01/06/03, then 0.75% discount for one year.
Rate: 5.5%
Max LTV: 80%
Redemption penalty: 7% of outstanding loan in the first three years.
Procuration fee: 1.5%, minimum £500, maximum £5,000.
Arrangement fee: £495
Other: CCJs to £10,000 unsatisfied, four months’ arrears in last 12 months, unlimited defaults, bankrupts discharged one year.
Contact: 01244 665 700
Mortgage 2000
Product: Exclusive self-cert stepped discount mortgage
Funded by: SPML
Description: 1.25% discount until 01/06/03, then 0.25% discount for one year.
Rate: 6%
Max LTV: 80%
Redemption penalty: 7% of outstanding loan in the first three years.
Procuration fee: 1.5%, minimum £500, maximum £5,000.
Arrangement fee: £495
Other: CCJs to £10,000 unsatisfied, four months’ arrears in last 12 months, unlimited defaults, bankrupts discharged one year.
Contact: 01244 665 700
Norwich and Peterborough BS
Product: Discount rate mortgage
Description: 1.4% discount for five years.
Rate: 4.29%
Max LTV: 90%
Redemption penalty: 3% of the current balance in the first five years.
Procuration fee: 0.25%, minimum £125, maximum £1,000.
Arrangement fee: None
Other: Legal fees paid when arranged though the society, under and over payments allowed.
Contact: 0845 300 3444
Pink Home Loans
Product: Exclusive discount mortgage
Funded by: Bristol & West
Description: 2% discount for three years.
Rate: 3.95%
Max LTV: 95%
Redemption penalty: 5% of the sum repaid for two years then 4% for one year.
Procuration fee: 0.3%
Arrangement fee: £299
Other: Annual interest, MIG trigger at 85% LTV, but calculated from 75% LTV.
Contact: www.pink.uk.net
Pink Home Loans
Product: Exclusive stepped discount mortgage
Funded by: Bristol & West
Description: 2.46% discount to 31/01/04, then 1.96% discount to 31/01/05.
Rate: Initial rate of 3.49%.
Max LTV: 95%
Redemption penalty: 5% of the amount repaid until 31/01/05.
Procuration fee: 0.3% minimum £150.
Arrangement fee: £299
Other: Annual interest, MIG trigger at 85% LTV, but calculated from 75% LTV.
Contact: www.pink.uk.net
FIXED
Alliance & Leicester
Product: Two-year fixed rate mortgage
Description: Fixed until 31/12/04.
Rate: 3.94%
Max LTV: 95%
Redemption penalty: Six months’ gross interest during the fixed rate period.
Procuration fee: Refer to lender
Arrangement fee: £295
Other: FTB’s receive free valuation, free buyers insurance and either free conveyancing or no arrangement fee, existing A&L clients and premier current account clients receive 0.5% lower rate.
Contact: 0845 300 3000
Alliance & Leicester
Product: Five-year fixed rate mortgage
Description: Fixed until 31/12/07.
Rate: 4,49%
Max LTV: 95%
Redemption penalty: Six months’ gross interest during the fixed rate period.
Procuration fee: Refer to lender
Arrangement fee: £295
Other: FTB’s receive free valuation, free buyers insurance and either free conveyancing or no arrangement fee, existing A&L clients and premier current account clients receive 0.5% lower rate.
Contact: 0845 300 3000
Coventry Building Society
Product: Five-year fixed rate remortgage
Description: Fixed to 31/12/07
Rate: 4.99%
Max LTV: 95%
Redemption penalty: Six months’ interest to 31/12/07.
Procuration fee: Negotiable
Arrangement fee: £195
Other: Free valuation and remortgage transfer service.
Contact:
www.remortgages.co.uk
Norwich and Peterborough BS
Product: Fixed rate mortgage
Description: Fixed for five years.
Rate: 4.84% to 90% LTV, 5.04% to 95% LTV.
Max LTV: 95%
Redemption penalty: 5% of the current balance in the first three years, 4% in year four and 3% in year five.
Procuration fee: 0.25%, minimum £125, maximum £1,000.
Arrangement fee: £199
Other: Flexible features available, overpayment allowed from the outset.
Contact: 0845 300 3444
Pink Home loans
Product: Exclusive self-cert fixed rate mortgage
Funded by: Mortgage Express
Description: Fixed to 03/12/07.
Rate: 5.79%
Max LTV: 90%
Redemption penalty: Six months’ interest at the fixed rate until 03/12/07.
Procuration fee: 0.5%
Arrangement fee: £325
Other: Monthly interest, no MIG, under and overpayments and draw down available.
Contact: www.pink.uk.net
Coventry BS overhauls buy-to-let range
The Coventry Building Society has overhauled its buy-to-let range. Among the new mortgage products is a five-year fixed rate deal. It has a payable rate of 5.39% to 31/12/07 and is available up to 85% loan to value (LTV).
‘With regard to the re-launch of our buy-to-let range, we are releasing some new, quite aggressively priced, products. We are doing this because we believe that there is still a substantial market out there to be tapped. We are still seeing demand directly from the customer and from intermediaries alike. The new products have been designed to give landlords flexibility as well as stability over the long term,’ said Yvonne White, media relations manager at Coventry Building Society.
The mortgage carries an early repayment charge of six months’ interest until 31/12/07. Other charges include a £375 arrangement fee and a £50 mortgage administration fee, as well as a valuation fee.
There are discounted legal fees available for remortgage customers. Procuration fees to intermediaries are negotiable with the lender.
Contact 0845 766 5522
