Genesis Home Loans
Product: Prospector buy-to-let mortgage
Funded by: GMAC RFC
Description: Fixed until 1/6/2005.
Rate: 4.65% (to 75% LTV), or 4.95% (to 85% LTV).
Max LTV: 85%
Redemption penalty: 3% during fixed rate period.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: No MIG.
Contact: 0870 242 1213
High Street Home Loans
Product: Buy-to-let tracker
Description: Tracks BBR + 0.74% to 75% LTV, or BBR + 1.14% to 85% LTV.
Rate: 4.49% or 4.89%.
Max LTV: 85%
Redemption penalty: 4% of amount repaid in year one, 3% in year two, 2% in year three and 1% in year four.
Procuration fee: 0.5%
Arrangement fee: £395
Other: Unlimited properties to £2m, CCJs to £300 considered if satisfied, one month’s arrears in last 12 considered.
Contact: 0191 260 4500
Pink Home Loans
Product: Buy-to-let discount mortgage
Funded by: Mortgage Express
Description: 0.51% discount for two years.
Rate: 4.99%
Max LTV: 85%
Redemption penalty: Six months’ interest at BBR + 1.75% for three years.
Procuration fee: 0.5%, no maximum.
Arrangement fee: £399
Other: Monthly interest, unlimited number of properties.
Contact: www.pink.uk.net
Product: Buy-to-let fixed rate mortgage
Funded by: Mortgage Express
Description: Fixed until 3/6/2006.
Rate: 5.35%
Max LTV: 85%
Redemption penalty: Six months’ interest at the fixed rate until 3/6/2006.
Procuration fee: 0.5%, no maximum.
Arrangement fee: £399
Other: Reverts to underlying rate BBR + 1.75%.
Contact: www.pink.uk.net
Product: Buy-to-let BBR tracker mortgage
Funded by: BM Solutions
Description: Tracks BBR + 1.39% for five years.
Rate: 5.14%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.5%, minimum £200, maximum £5,000.
Arrangement fee: £325
Other: Reverts to underlying rate BBR + 1.95%.
Contact: www.pink.uk.net
Product: Buy-to-let discount mortgage
Funded by: Bristol & West
Description: 1% discount until 31/3/2005, then 0.65% discount until 31/3/2006.
Rate: 4.5%
Max LTV: 85%
Redemption penalty: 5% until 31/3/2005, 4% until 1/3/2006, plus redemption and deeds fee of £150.
Procuration fee: 0.3%, minimum £100.
Arrangement fee: £299
Other: Reverts to underlying rate BBR + 1.75%.
Contact: www.pink.uk.net
Coventry BS
Product: Capped base rate tracker mortgage
Description: BBR + 1.24% tracker capped until 31/12/2005.
Rate: 3.99%
Max LTV: 95%
Redemption penalty: None
Procuration fee: Negotiable.
Arrangement fee: £295, £195 if through www.remortgages.co.uk
Other: Minimum rate 2.99%, free remortgage transfer service, free valuation.
Contact: 0845 766 5522
BuildLoan
Product: Discount self-build mortgage
Funded by: Skipton Building Society
Description: 1.25% discount in the first two years followed by 0.75% discount to term.
Rate: 4.5%
Max LTV: 95% of cost of land and 95% of cost of build.
Redemption penalty: 2% for three years.
Procuration fee: Refer to distributor.
Arrangement fee: None
Other: Stage payments released in advance, 10% redemption allowed without penalty.
Contact: 0870 870 9499
Coventry BS
Product: Flexx discount mortgage
Description: 2% discount until 30/9/2005, then 0.6% discount until 30/9/2008.
Rate: 3.65%
Max LTV: 95%
Redemption penalty: None
Procuration fee: Negotiable
Arrangement fee: £295, £195 if through www.remortgages.co.uk
Other: Free remortgage transfer service, free valuation.
Contact: 0845 766 5522
Mortgage 2000
Product: Exclusive 1 stepped discount
Funded by: SPML
Description: 1.5% discount until 1/6/2003 then 0.75% discount for a further year.
Rate: 5.2%
Max LTV: 80%
Redemption penalty: 7% of outstanding loan for first three years.
Procuration fee: 1.25%
Arrangement fee: £495
Other: CCJs to £10,000 or four months’ arrears in last 12 months (none in the last six) considered, reverts to Libor + 3.25%.
Contact: 0845 345 5700
Coventry BS
Product: Fixed rate mortgage
Description: Fixed to 31/12/2008.
Rate: 4.45%
Max LTV: 95%
Redemption penalty: Six months’ interest to 30/9/2005.
Procuration fee: Negotiable.
Arrangement fee: £295
Other: Free remortgage transfer service, free valuation. Repayment of up to 5% pa allowed without penalty.
Contact: 0845 766 5522
Genesis Home Loans
Product: Columbia fixed rate mortgage
Funded by: GMAC RFC
Description: Fixed until 1/6/2005.
Rate: 5.55%
Max LTV: 85%
Redemption penalty: 6% during the fixed rate period, then one month’s notice or interest.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: No MIG, maximum £7,500 in CCJs in last three years, three missed payments in the last 12 months.
Contact: 0870 242 1213
Pink Home Loans
Product: 100% fixed rate mortgage
Funded by: Mortgage Express
Description: Fixed until 3/6/2005.
Rate: 4.65%
Max LTV: 105%
Redemption penalty: Six months’ interest at the fixed rate until 3/6/2006.
Procuration fee: 0.3%.
Arrangement fee: £325
Other: Underlying rate BBR + 2%, up to one CCJ, satisfied over a year considered.
Contact: www.pink.uk.net
Genesis Home Loans
Product: Atlantis self-cert fixed rate mortgage
Funded by: GMAC RFC
Description: Fixed until 1/6/2005.
Rate: 5.75%
Max LTV: 85%
Redemption penalty: 6% during the fixed rate period, then one month’s notice or interest.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: No MIG, maximum £3,000 in CCJs in last three years, two missed payments in last 12 months.
Contact: 0870 242 1213
Product: Pathfinder self-cert fixed rate mortgage
Funded by: GMAC RFC
Description: Fixed until 1/6/2005.
Rate: 4.65% (to 75% LTV), or 4.95% (to 85% LTV).
Max LTV: 90%
Redemption penalty: 5% to 1/6/2005.
Procuration fee: Refer to packager.
Arrangement fee: £395
Other: One CCJ to £300 considered if satisfied, maximum one month’s arrears in last 12, first-time buyers limited to 75% LTV, above 85% LTV fixed rates do not apply (SVR 5.65%).
Contact: 0870 242 1213
High Street Home Loans
Product: Self-cert discount mortgage
Description: 1.75% discount for the first year.
Rate: 4.25%
Max LTV: 85%
Redemption penalty: 3% of outstanding loan in year one, 2% in year two and 1% in year three.
Procuration fee: 0.75%
Arrangement fee: £395
Other: One CCJ of up to £500 considered, two months’ arrears in the last 12 allowed, but none in the last six months, no MIG, flexible features.
Contact: 0191 260 4500
Mortgage 2000
Product: Exclusive 2 self-cert stepped discount
Funded by: SPML
Description: 1.75% discount until 1/6/2003, then 0.75% discount for a further year.
Rate: 5.7%
Max LTV: 80%
Redemption penalty: 7% of the outstanding loan for first three years.
Procuration fee: 1.25%
Arrangement fee: £495
Other: CCJs to £10,000 or four arrears in last 12 months, none in the last six, considered, reverts to Libor + 3.75%.
Contact: 0845 345 5700
Pink Home Loans
Product: Flexible self-cert stepped discount mortgage
Funded by: BM Solutions
Description: 0.76% discount for one year, followed by 0.51% discount for two years.
Rate: 4.74%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.5%, minimum £200, maximum £5,000.
Arrangement fee: £325
Other: Underlying rate BBR + 1.75%.
Contact: www.pink.uk.net
N&P reduces rates on
The Norwich & Peterborough (N&P) Building Society has reduced the rates on its two and five-year fixed rate commercial loans for new borrowers.
The two-year deal carries a rate of 5.37% (previously 5.74%) and the five-year rate is 5.86% (previously 6.2%). The Society’s products allow local businesses to finance the purchase of new business premises, or to remortgage to reduce their monthly repayments.
Robert Lankey, head of commercial lending at N&P, said: ‘We do not know yet what effect the war in Iraq will have on the short-term outlook for the economy, but people have to continue running their businesses and, if they are looking to remortgage their shop premises, buy an industrial unit or move to a bigger factory, they might not be able to wait and see what happens.’
Available to 80% LTV, the loan carries an arrangement fee of 0.5%, with a minimum of £300. After the fixed rate period, the loan reverts to either a negotiable 1.25% and 3% above three-month Libor or 0% to 2% above the Society’s standard variable rate (currently 5.59%). There is a 1% arrangement fee payable and procuration fees are set at 0.5%.
Contact: 01733 372 425