You are here: Home - News -

Product round-up

by:
  • 05/06/2003
  • 0
Each fortnight we bring you the key features of recently launched or relaunched mortgage products

Abacus Permanent

Product: Prime variable discount buy-to-let mortgage

Description: BBR+0.7% to 31/01/06.

Rate: 4.45%

Max LTV: 85%

Redemption penalty: 5% of outstanding loan until 31/01/05 then 4% until 31/01/06.

Procuration fee: 0.4%

Arrangement fee: £499

Other: Not available to FTBs, no MIG.

Contact: 0845 330 4128

Product: Prime fixed rate buy-to-let mortgage

Description: Fixed for 12 months, then BBR+0.5% for 12 months, then BBR+1.5% for 12 months.

Rate: 4.35%

Max LTV: 85%

Redemption penalty: 5% of outstanding loan for 12 months then 4% for 12 months.

Procuration fee: 0.4%

Arrangement fee: £499

Other: Not available to FTBs, no MIG.

Contact: 0845 330 4128

Product: Prime fixed rate buy-to-let mortgage

Description: Fixed for 24 months, then BBR+0.99% for 12 months.

Rate: 4.99%

Max LTV: 85%

Redemption penalty: 5% of outstanding loan for 24 months then 4% for 12 months.

Procuration fee: 0.4%

Arrangement fee: £499

Other: Not available to FTBs, no MIG.

Contact: 0845 330 4128

Pink Home Loans

Product: Buy-to-let fixed rate mortgage

Funded by: Bristol & West CMS

Description: Fixed to 31/07/08

Rate: 5.09%

Max LTV: 85%

Redemption penalty: 7% until 31/07/04, 6% until 31/07/06 then 5% until 31/07/08.

Procuration fee: 0.3%, minimum £100.

Arrangement fee: £399

Other: Annual interest.

Contact: www.pink.uk.net

Bristol & West

Product: Two-year discount mortgage

Description: 2.24% discount until 31/07/05.

Rate: 3.55%

Max LTV: 95%

Redemption penalty: 5% until 31/07/05.

Procuration fee: Negotiable

Arrangement fee: £299

Contact: 0117 943 7755

Exclusive Connections

Product: Shared exclusive discount mortgage

Funded by: Bristol & West CMS

Description: 2.8% of SVR for two years.

Rate: 2.99%

Max LTV: 95%

Redemption penalty: 5% of the sum repaid for two years then 4% for one year.

Procuration fee: Negotiable

Arrangement fee: £299

Other: One CCJ or default up to £250, FTB with default or CCJ in last three years not accepted, MIG from 85%.

Contact: 0870 330 1817

Pink Home Loans

Product: Heavy adverse self-cert discount mortgage

Funded by: Amber Homeloans

Description: 0.5% discount to 31/07/05.

Rate: 5.68%

Max LTV: 85%

Redemption penalty: 5% in year one, 4% in year two, 3% in year three.

Procuration fee: 0.75%, minimum £200, maximum £4,000.

Arrangement fee: £395

Other: MIG from 75% LTV at 7%, unlimited CCJs to £20,000, defaults under £25,000 ignored, up to four missed payments in the last 12 months accepted, maximum two in the last six months.

Contact: www.pink.uk.net

Product: Medium adverse discount mortgage

Funded by: Amber Homeloans

Description: 1% discount to 31/07/05.

Rate: 4.68%

Max LTV: 85%

Redemption penalty: 5% in year one, 4% in year two and 3% in year three.

Procuration fee: 0.75%, minimum £200, maximum £4,000.

Arrangement fee: £395

Other: Defaults under £25,000 ignored, unlimited CCJs to £10,000, up to three missed payments in the last 12 months, maximum one missed in the last six months.

Contact: www.pink.uk.net

Amber Homeloans

Product: Light adverse fixed rate mortgage

Description: Fixed until 31/07/05

Rate: 4.19% status, 4.49% self-cert

Max LTV: 85%

Redemption penalty: 5% in year one, 4% in year two, 3% in year three.

Procuration fee: Negotiable

Arrangement fee: £395

Other: Unlimited CCJs to £5,000, two missed monthly payments in the last 12 months, none in the last six months, capital repayments up to 10% allowed each year without charge.

Contact: 0870 601 3205

Product: Medium adverse fixed rate mortgage

Description: Fixed until 31/07/05

Rate: 4.49% status, 4.99% self-cert

Max LTV: 85%

Redemption penalty: 5% in year one, 4% in year two, 3% in year three.

Procuration fee: Negotiable

Arrangement fee: £395

Other: Unlimited CCJs to £10,000, three missed monthly payments in the last 12 months, one in the last six months, capital repayments up to 10% allowed each year without charge.

Contact: 0870 601 3205

Product: Heavy adverse fixed rate mortgage

Description: Fixed until 31/07/05

Rate: 4.99% status, 5.49% self-cert

Max LTV: 85%

Redemption penalty: 5% in year one, 4% in year two, 3% in year three.

Procuration fee: Negotiable

Arrangement fee: £395

Other: Unlimited CCJs to £20,000, four missed monthly payments in the last 12 months, two in the last six months, capital repayments up to 10% allowed each year without charge.

Contact: 0870 601 3205

BM Solutions

Product: Two-year fixed rate mortgage

Description: Fixed until 01/06/05

Rate: 3.89%

Max LTV: 85%

Redemption penalty: 5%/4%/ 4%/3%/2% in first five years to 01/06/08.

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

Arrangement fee: £349

Other: No MIG, extra £50 proc fee for online applications.

Contact: www.bmsolutions.co.uk 0845 6000227

Product: Two-year fixed rate mortgage

Description: Fixed until 01/06/05

Rate: 4.39%

Max LTV: 85%

Redemption penalty: 5% to 01/06/04 then 4% to 01/06/05.

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

Arrangement fee: £349

Other: No MIG, extra £50 proc fee for online applications.

Contact: www.bmsolutions.co.uk 0845 6000227

Product: Fixed rate mortgage

Description: Fixed until 31/07/08

Rate: 4.75%

Max LTV: 95%

Redemption penalty: 7% until 31/07/04, 6% until 31/07/06, 5% until 31/07/08.

Procuration fee: Negotiable

Arrangement fee: None

Other: No valuation fee, no MIG.

Contact: 0117 943 7755

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: 0.5%, minimum £299.

Other: Free valuation to £340, no higher lending fee to 90%.

Contact: 0121 643 6741

Pink Home Loans

Product: Fixed rate mortgage

Funded by: Bristol & West CMS

Description: Fixed until 31/07/08

Rate: 4.49%

Max LTV: 95%

Redemption penalty: 7% until 31/07/04, 6% until 31/07/06 then 5% until 31/07/08.

Procuration fee: 0.3%, minimum £100.

Arrangement fee: £299

Other: Annual interest.

Contact: www.pink.uk.net

BM Solutions

Product: Remortgage special two-year stepped tracker mortgage

Description: BBR+0.99% in year one and BBR+1.49% year two.

Rate: 4.49%

Max LTV: 85%

Redemption penalty: 5% in first year and 4% in the second year.

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

Arrangement fee: £349

Other: No MIG, extra £50 proc fee for online applications.

Contact: www.bmsolutions.co.uk 0845 6000227

Product: Remortgage special three-year stepped tracker mortgage

Description: BBR+1.24% for three years.

Rate: 4.74%

Max LTV: 85%

Redemption penalty: 5% in first year and 4% in the second year, 3% in the third.

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

Arrangement fee: £349

Other: No MIG, extra £50 proc fee for online applications.

Contact: www.bmsolutions.co.uk 0845 6000227

Pink Home Loans

Product: Tracker discount Mortgage

Funded by: BM Solutions

Description: BBR+1.85% for three years.

Rate: 5.6%

Max LTV: 85%

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

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

Arrangement fee: £325

Other: Reverts to BBR+2.05%, defaults ignored, CCJs to £7,500, maximum three months arrears in the last 12 months.

Contact: www.pink.uk.net

Universal extends its fixed rate portfolio

The Universal Building Society has released a new mortgage portfolio. The range includes five new fixed rate mortgages, including a fixed rate of 3.77% until July 2005 and a fixed rate of 4.55% until 1 July 2008. Topically for those looking for a longer-term solution, a fixed rate of 4.99% until 1 July 2013 is also available. All the new fixed rate mortgages include a free valuation fee, daily interest and the ability to make annual capital repayments of up to 10% of the balance without penalty. The new portfolio also includes three new base rate tracker mortgages, for both house purchases and remortgages and a new 1.55% discount for two years. Kevin Robinson, chief executive of Universal Building Society, said: ‘Many people are keen to take advantage of some of the lowest rates for 30 years. We also recognise that our borrowers’ circumstances vary and, as such, our new mortgage portfolio reflects this. Whether borrowers are looking to remortgage, be certain of their repayments in the short, medium or long-term, or prefer to link their rate to the Bank of England’s base rate, this new range of mortgages can accommodate their needs.’ The range includes additional features such as free legal fees for remortgages or cashback for house purchases.

Contact: 0800 028 83 83

Tags

There are 0 Comment(s)

You may also be interested in

Business Skills

In this section, we offer short ‘how to’ guides on harder to crack areas of business. From social media, to regulation or niche product areas, we cover it all.

Profiles

Our journalists interview key industry entrepreneurs, strategists and commentators for day-to-day market insight and a strategic view of where the industry is heading. We offer lessons for success and explore the opportunities for your business

Success in Practice

Here, we share case studies fleshing out best practice to help you decide what could work for your business. Take a look at how others approached complex tasks like launching a new mortgage lender, advising on a new product area or deciding to specialise in another. Learn from others mistakes and triumphs.

Marketwatch

Each week, we ask top mortgage and property commentators with a unique perspective to examine a key news headline, market move or regulatory or political issue.

Poll

Vote in our weekly poll here. It’s your chance to tell us what you think and be heard on the top news stories of the week. Review our archive to find out what your industry really thinks and all our coverage of the results.

Top Comments

Be part of the conversation on Mortgage Solutions. We want to hear from you. We have a tool called Disqus to tell us which stories get the most comments each week. Every Friday, the team picks the most thoughtful or opinionated contributions from our readers to enjoy again. Don’t forget to share your favourite stories from the site on social media to keep the conversation going.
Read previous post:
FSA proposes application fees

The Financial Services Authority (FSA) has published CP180, its proposed approach to application fee...

Close