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Product round-up

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  • 21/05/2003
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Each fortnight we bring you the key features of recently launched or relaunched mortgage products

Ipswich BS

Product: Fixed rate buy-to-let mortgage

Description: Fixed until 30/04/05.

Rate: 5.55%

Max LTV: 80%

Redemption penalty: 3% of the advance if the loan is reduced to below half the original advance in the fixed rate period.

Procuration fee: Negotiable

Arrangement fee: £195

Other: No compulsory insurances.

Contact: 01473 342265

Pink Home Loans

Product: Buy-to-let fixed rate mortgage

Funded by: BM Solutions

Description: Fixed to 01/06/06.

Rate: 4.95%

Max LTV: 85%

Redemption penalty: 5% of the amount repaid to 01/06/04, 4% to 01/06/05, then 3% to 01/06/06.

Procuration fee: 0.5%, min £200, maximum £5,000

Arrangement fee: £325

Other: Underlying rate BBR+1.95%, minimum valuation £75,000 if in London ‘ elsewhere £40,000.

Contact: www.pink.uk.net

Coventry BS

Product: Flexx discount mortgage

Description: 1.9% discount to 30/09/05, then 0.66% discount until 30/09/08.

Rate: 3.75%

Max LTV: 95%

Redemption penalty: None

Procuration fee: Negotiable

Arrangement fee: £295, £195 if remortgaging through www.remortgages.co.uk

Other: Free remortgage transfer service, free valuation, daily interest.

Contact: 0845 766 5522

Ipswich BS

Product: Discount mortgage

Description: 1.5% discount for two years.

Rate: 4.05%

Max LTV: 95%

Redemption penalty: Three months’ additional interest if the loan is reduced to below half the original advance in the discount period.

Procuration fee: Negotiable

Arrangement fee: £250

Other: Purchase only, no MIG to 90% LTV.

Contact: 01473 342265

Pink Home Loans

Product: Special adverse product range over 75% LTV

Funded by: Preferred Mortgages

Description: 1.25% discount for one year.

Rate: 3.75%

Max LTV: 90%

Redemption penalty: 6% of the amount redeemed for three years, one month’s interest thereafter.

Procuration fee: 1%, maximum £5,000

Arrangement fee: £495

Other: Underlying rate LIBOR+ loading, self-cert available. CCJs to £6,000, up to four months arrears in the last 12, bankrupts discharged one year.

Contact: www.pink.uk.net

Product: Adverse stepped rate mortgage

Funded by: BM Solutions

Description: Stepped for three years, BBR+1.5% in years one and two, BBR+2.2% year three.

Rate: 5.25%

Max LTV: 85%

Redemption penalty: 5% of the amount repaid in year one, 4% in year two and 3% in year three.

Procuration fee: 0.75%, minimum £250, maximum £5,000.

Arrangement fee: £325

Other: CCJs to £4,000 – none in last six months, max two months arrears in last 12, none in last three, bankrupts discharged a year.

Contact: www.pink.uk.net

Product: Self-cert fees assisted remortgage

Funded by: BM Solutions

Description: 1.25% discount in year one (BBR+0.5%), 0.25% discount in year two.

Rate: 4.25%

Max LTV: 85%

Redemption penalty: 5% in year one and 4% in year two.

Procuration fee: 0.5%, minimum £200, maximum £5,000

Arrangement fee: £349

Other: Refund of valuation fee and £500 cash back, underlying rate BBR+1.75%.

Contact: www.pink.uk.net

Product: Three-year stepped discount mortgage

Funded by: Staffordshire BS

Description: 2.2% discount in year one, 1.2% discount in year two and 0.4% discount in year three.

Rate: 3.39%

Max LTV: 95%

Redemption penalty: 3% of the amount repaid in year one, 2% in year two and 1% in year three, plus redemption sealing fee of £199.

Procuration fee: 0.5%

Arrangement fee: £295

Other: One satisfied CCJ to £250 may be considered. Up to two months arrears in months 12 to 24.

Contact: www.pink.uk.net

Bristol and West

Product: Self-cert fixed rate mortgage

Description: Fixed to 30/06/06

Rate: 4.6% to 75% LTV, 4.75% to 85% LTV, 5.15% to 90% LTV.

Max LTV: 90%

Redemption penalty: 5% until 30/06/06.

Procuration fee: Negotiable

Arrangement fee: £299

Other: Reverts to BBR+1.75%.

Contact: 0117 943 7755

Product: Self-cert fixed rate mortgage

Description: Fixed until 30/06/08

Rate: 4.85% to 75% LTV, 4.99% to 85% LTV, 5.1% to 90% LTV.

Max LTV: 90%

Redemption penalty: 7% until 30/06/04, 6% to 30/06/06, then 5% to 30/06/08.

Procuration fee: Negotiable

Arrangement fee: £299

Other: Reverts to BBR+1.75%.

Contact: 0117 943 7755

Product: Fixed rate mortgage

Description: Fixed for seven years from completion.

Rate: 4.79%

Max LTV: 95%

Redemption penalty: 7% in years one and two, 6% in year three, 5% in years four five and six, then 4% for one year.

Procuration fee: Negotiable

Arrangement fee: None

Other: Free valuation, free legals for remortgages, reverts to SVR.

Contact: 0117 943 7755

Coventry BS

Product: Fixed rate mortgage

Description: Fixed to 30/06/06, then 0.66% discount to 30/06/08.

Rate: 4.25%

Max LTV: 95%

Redemption penalty: Six months’ interest to 30/06/06.

Procuration fee: Negotiable

Arrangement fee: £295, £195 if remortgaging through www.remortgages.co.uk

Other: Free remortgage transfer service, free valuation, 5% capital repayment per annum allowed without penalty.

Contact: 0845 766 5522

Ipswich BS

Product: Three-year fixed rate mortgage

Description: Fixed until 30/04/06

Rate: 4.5% to 80% LTV, 4.95% to 95%.

Max LTV: 95%

Redemption penalty: 3% of the advance if the loan is reduced to below half the original advance in the fixed rate period.

Procuration fee: Negotiable

Arrangement fee: £250

Other: No MIG to 90% LTV

Contact: 01473 342265

Leeds & Holbeck BS

Product: Fixed rate mortgage

Description: Fixed for two years.

Rate: 3.99%

Max LTV: 95%

Redemption penalty: None.

Procuration fee: 0.25%

Arrangement fee: 0.35%, minimum £299

Other: Free valuation to £340,

No higher lending fee to 90%.

Contact: 0121 643 6741

NatWest

Product: Fixed rate mortgage

Description: Fixed for two

years.

Rate: 3.99%

Max LTV: 95%

Redemption penalty: 2% in year one and 1% in year two.

Procuration fee: Negotiable

Arrangement fee: £295

Other: Capital repayment over 25 years.

Contact: 0800 587 3259

Product: Fixed rate mortgage

Description: Fixed for five years.

Rate: 4.69%

Max LTV: 95%

Redemption penalty: 5% in year one, 4% in year two, 3% in year three, 2% in year four and 1% in year five.

Procuration fee: Negotiable

Arrangement fee: £295

Other: Capital repayment over 25 years.

Contact: 0800 587 3259

Skipton Building Society

Product: Five-year fixed rate mortgage

Description: Fixed until 30/06/08.

Rate: 4.45%

Max LTV: 95%

Redemption penalty: 3% to 30/06/08.

Procuration fee: Negotiable

Arrangement fee: £395

Other: Up to 10% capital repayments annually without penalty, no MIG to 90%, flexible features, free legals for remortgages.

Contact: 08457 171 777

Norwich & Peterborough BS

Product: Base rate tracker

Description: BBR+0.69% to £99,999, BBR+0.59% to

£249,999, BBR+0.49% for £250,000 plus.

Rate: 4.44%, 4.34%, 4.24%

Max LTV: 95%

Redemption penalty: None

Procuration fee: 0.25%,

minimum £125, maximum

£1,000.

Arrangement fee: None to £249,999 then £199.

Other: Free standard valuation, legal fees paid for remortgages, flexible options.

Contact: 0845 300 3444


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