BUY TO LET
Abacus Permanent
Product: Buy-to-let tracker mortgage
Description: BBR + 0.7% for four years then 1.75% above BBR for term.
Rate: 4.7%
Max LTV: 85%
Redemption penalty: 5% of sum redeemed until 31/1/2005, then 4% until 31/1/2006.
Procuration fee: 0.4%
Arrangement fee: £499
Contact: 0845 330 4128
Product: Buy-to-let stepped discount mortgage
Description: Fixed for 12 months, then BBR + 0.5% for 12 months, then BBR + 1.5% for 12 months, then BBR + 1.75% for term.
Rate: 4.35%
Max LTV: 85%
Redemption penalty: 5%/5%/ 4% in the first three years respectively.
Procuration fee: 0.4%
Arrangement fee: £499
Contact: 0845 330 4128
BM Solutions
Product: Buy-to-let discount mortgage
Description: 0.96% discount for two years.
Rate: 4.99%
Max LTV: 85%
Redemption penalty: 5% in year one, 4% in year two.
Procuration fee: 0.5%, minimum £200, maximum £5,000.
Arrangement fee: £299
Contact: 0800 587 2211
Bristol & West
Product: Five-year fixed buy-to-let mortgage
Description: Fixed until 30/9/2007.
Rate: 5.59%
Max LTV: 85%
Redemption penalty: 7% until 30/9/2003, then 6% until 30/9/ 2005, then 5% until 30/9/2007.
Procuration fee: Negotiable
Arrangement fee: £399
Contact: 0117 943 7755
Mortgage 2000
Product: Exclusive buy-to-let fixed rate mortgage
Funded by: Verso
Description: Fixed for two years.
Rate: 3.89%
Max LTV: 85%
Redemption penalty: 5% of outstanding loan in the first five years.
Procuration fee: 0.25%
Arrangement fee: 1%, minimum £500.
Other: £70 up-front booking fee, free indemnity fees.
Contact: 01244 665 700
Pink Home Loans
Product: ’25 to let’ buy-to-let tracker mortgage
Funded by: BM Solutions
Description: 0.99% above BBR for three years, then BBR + 1.95% for term.
Rate: 4.99%
Max LTV: 75%
Redemption penalty: None
Procuration fee: 0.5% per property, minimum £200, maximum £5,000.
Arrangement fee: £399
Other: Up to 25 properties, up to a limit of £2.5m.
Contact: www.pink.uk.net
Product: Exclusive buy-to-let fixed rate mortgage.
Funded by: Mortgage Express
Description: Fixed until either 3/12/2003, 3/12/2005 or 3/12/2007.
Rate: 2.49%, 5.24% or 5.45% respectively.
Max LTV: 85%
Redemption penalty: Six months’ interest at underlying variable rate until 3/12/2003 or six months’ interest at fixed rate to 3/12/2005 or 3/12/2007.
Procuration fee: 0.5%, no maximum.
Arrangement fee: £399
Other: No MIG, unlimited number of properties to £2m.
Contact: www.pink.uk.net
CAPPED
Bristol & West
Product: Five-year capped rate mortgage
Description: Capped at 5.85% until 30/9/2007.
Rate: 4.89% (variable)
Max LTV: 95%
Redemption penalty: 7% until 30/9/2003, then 6% until 30/9/2005, then 5% until 30/9/2007.
Procuration fee: Negotiable
Arrangement fee: £299
Contact: 0117 943 7755
DISCOUNT
Abacus Permanent
Product: Cashback discount mortgage
Description: 0.36% discount for five years.
Rate: 5.59%
Max LTV: 95%
Redemption penalty: 6%/5%/ 4%/4%/3% respectively in the first five years.
Procuration fee: 0.4%
Arrangement fee: £399
Other: 5% cashback.
Contact: 0845 330 4128
Product: Cashback discount mortgage
Description: 0.96% discount for five years.
Rate: 4.99%
Max LTV: 95%
Redemption penalty: 6%/5%/ 4%/4%/3% respectively in the first five years.
Procuration fee: 0.4%
Arrangement fee: £399
Other: 3% cashback.
Contact: 0845 330 4128
Mortgage 2000
Product: Exclusive discount 2003 mortgage
Funded by: The Mortgage Business
Description: 1.4% discount until 1/5/2003.
Rate: 4.44%
Max LTV: 85%
Redemption penalty: Three months,’ two months’ and one month’s gross interest in the first three years respectively, then one month’s interest or notice in lieu.
Procuration fee: 0.5% maximum £2,500.
Arrangement fee: £299
Contact: 01244 665 700
Product: Exclusive discount mortgage
Funded by: Verso
Description: 1.25% discount for five years.
Rate: 4.73%
Max LTV: 95%
Redemption penalty: 5% of out-standing loan for first two years.
Procuration fee: 0.5%, minimum £350.
Arrangement fee: £325
Contact: 01244 665 700
Pink Home Loans
Product: Fees-assisted discount mortgage
Funded by: Leeds & Holbeck BS
Description: 1.76% discount for two years.
Rate: 3.99%
Max LTV: 95%
Redemption penalty: Six months’ interest at SVR in year one, four months’ interest at SVR in year two.
Procuration fee: 0.3%
Arrangement fee: None
Other: No legal fees for remortgages if Society’s in-house service is used, £250 cashback.
Contact: www.pink.uk.net
Product: Sub-prime fees assisted discount remortgage
Funded by: Preferred Mortgages
Description: 1.25% discount until 31/12/2003.
Rate: From 5.75% depending on level of adverse.
Max LTV: 85% (full status light adverse).
Redemption penalty: 6% of the amount redeemed for the first three years, then 1%.
Procuration fee: 1%
Arrangement fee: None
Other: Valuation fee refund, free legals on remortgages.
Contact: www.pink.uk.net
FIXED
BM Solutions
Product: Self-cert fixed rate mortgage
Description: Fixed until 2/1/2004.
Rate: 2.99%
Max LTV: 85%
Redemption penalty: 5% to 2/1/2004, 4% to 2/1/2005, 3% to 2/1/2006.
Procuration fee: 0.5%, minimum £200, maximum £5,000.
Arrangement fee: £299
Contact: 0800 587 2211
Bristol & West
Product: Five-year fixed rate mortgage
Description: Fixed until 30/9/2007.
Rate: 5.19%
Max LTV: 95%
Redemption penalty: 7% until 30/9/2003 then 6% until 30/9/2005 then 5% until 30/9/2007.
Procuration fee: Negotiable
Arrangement fee: £299
Contact: 0117 943 7755
Exclusive Connections
Product: Exclusive self-cert fixed rate mortgage
Funded by: Mortgage Express
Description: Fixed until 3/12/2004.
Rate: 5.49%
Max LTV: 90%
Redemption penalty: Six months’ interest at SVR until 3/12/2004.
Procuration fee: Negotiable
Arrangement fee: £325
Other: No MIG, choices option with overpayment, under-payment and payment holidays available, debt consolidation facility ‘ to 80% LTV.
Contact: 0800 587 7272
Mercantile Direct
Product: North-East England fixed rate mortgage
Description: Fixed until 1/11/2005.
Rate: 4.49%
Max LTV: 90%
Redemption penalty: 5%/4%/ 3% in the first three years.
Procuration fee: 0.25% minimum £150, maximum £250, registered intermediaries only.
Arrangement fee: £295
Other: Sealing fee £50, valuation fee payable. Only available in the North East.
Contact: 0500 295 500
Product: North-East England fixed rate mortgage
Description: Fixed until 31/1/2007.
Rate: 4.94%
Max LTV: 95%
Redemption penalty: 5% to 31/1/2007.
Procuration fee: 0.25% minimum £150, maximum £250, registered intermediaries only.
Arrangement fee: £295
Other: Sealing fee £50, valuation fee payable. Only available in the North East.
Contact: 0500 295 500
Two-year fixed deals from Bristol & West
Bristol & West Mortgages has launched two two-year fixed rate mortgages.
The lender is marketing it as a way of reducing monthly mortgage payments before Christmas, while increasing a client’s sense of financial security for the next two years.
It is available at a rate of 3.95% with a £399 arrangement fee, or 4.29% with no arrangement fee, no valuation fee and free legal fees for remortgages via Bristol & West Mortgages’ solicitors.
Both products are fixed until 31/12/2004, and are available up to 95% LTV. Neither deal has an extended tie-in.
Redemption penalties in both cases are set at 5% to 31/12/2004 plus a £150 redemption administration a and deeds release fee.
Neena Kithoray, senior product manager for Bristol & West Mortgages, said: ‘With Christmas three weeks away we want to ensure we provide customers with opportunities to improve their financial situation.
‘We want to provide opportunities to improve their financial situation by reducing their mortgage payments. With speculation that the base rate is soon to rise, now is an excellent time for homeowners to take advantage of the low fixed rate mortgages on the market, not only saving them money but also ensuring they are protected if interest rates were to rise.’
Contact: 0117 943 7755
