M2000
Product: Exclusive ‘house to house’ buy-to-let tracker mortgage
Funded by: The Mortgage Business
Description: BBR+1.29% for life of loan
Rate: 4.79%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.5%, maximum £2,500
Arrangement fee: £499
Contact: 0845 345 5701
Pink Home Loans
Product: CAV-Buy-to-let tracker mortgage
Funded by: BM Solutions
Description: BBR+1.45% for five years
Rate: 4.95%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.5%, minimum £200, maximum £5,000
Arrangement fee: £399
Other: Reverts to BBR+1.95%
Contact: www.pink.uk.net
Genesis Home Loans
Product: ‘Metals & Elements’ super light A discount mortgage
Description: 1.25% discount until 28/02/05
Rate: 6.5%
Max LTV: 90%
Redemption penalty: 6% for three years, one month’s notice or interest thereafter.
Procuration fee: Refer to packager
Arrangement fee: £395
Other: MIG above 75%, CCJs to £2,000, defaults ignored, one month arrears in last 12 allowed, bankrupts discharged two years.
Contact: 0870 242 1213
Genesis Home Loans
Product: ‘Metals & Elements’ Heavy D discount mortgage
Description: 1.75% discount to 28/02/05
Rate: Full status- 5.2% purchase, 5.45% remortgage, self cert- 5.45% purchase, 5.7% remortgage.
Max LTV: 70%
Redemption penalty: 6% for three years, one month’s notice or interest thereafter.
Procuration fee: Refer to packager
Arrangement fee: £395
Other: Any amount of CCJs, defaults ignored, any amount of arrears, bankrupts discharged.
Contact: 0870 242 1213
Alliance & Leicester
Product: Fixed rate mortgage
Description: Fixed until 31/10/05
Rate: 3.39%
Max LTV: 95%
Redemption penalty: Six months’ gross interest on redemption in the fixed rate period.
Procuration fee: Negotiable
Arrangement fee: £345
Other: Incentives vary with customer status. £250 cash back and free valuation for FTBs and A&L customer moving home.
Contact: www.al.intermediary.co.uk
Alliance & Leicester
Product: Fixed rate mortgage
Description: Fixed until 31/10/08
Rate: 4.15%
Max LTV: 95%
Redemption penalty: Six months’ gross interest on redemption in the fixed rate period.
Procuration fee: Negotiable
Arrangement fee: £545
Other: Incentives vary with customer status. £250 cash back and free valuation for FTBs and A&L customer moving home.
Contact: www.al.intermediary.co.uk
Chelsea BS
Product: Fixed rate mortgage
Description: Fixed until 01/09/05
Rate: 3.59%
Max LTV: 95%
Redemption penalty: 3% until 01/09/05
Procuration fee: Negotiable
Arrangement fee: £295
Other: Free legal fees or £200 contribution.
Contact: 0800 291 291
Chelsea BS
Product: Fixed rate mortgage
Description: Fixed until 01/09/06
Rate: 3.99%
Max LTV: 95%
Redemption penalty: 3% until 01/09/06
Procuration fee: Negotiable
Arrangement fee: £295
Other: Free legal fees or £200 contribution.
Contact: 0800 291 291
M2000
Product: Self-cert fixed rate mortgage
Funded by: Mortgage Express
Description: Fixed until 03/09/06
Rate: 4.59%
Max LTV: 80%
Redemption penalty: Six months’ interest at the fixed rate during the fixed rate period.
Procuration fee: 0.5%
Arrangement fee: £325
Contact: 0845 345 5701
Pink Home Loans
Product: ‘QRX’ self-cert fixed rate adverse mortgage
Funded by: BM Solutions
Description: Fixed until 01/11/05
Rate: 5.94%
Max LTV: 75%
Redemption penalty: 5% of the amount repaid to 01/11/04 then 4% to 01/11/05.
Procuration fee: 1.5%, minimum £250, maximum £5,000
Arrangement fee: £349
Other: £300 cash back, unlimited CCJs, and arrears, bankrupts-discharged, CCJs over three years, arrears over 12 months, and all defaults, ignored.
Contact: www.pink.uk.net
Pink Home Loans
Product: Self-cert 90% discount mortgage
Funded by: The Mortgage Business
Description: 2% discount until 30/09/04
Rate: 4.24%
Max LTV: 90%
Redemption penalty: 1% gross interest on the original loan until 30/09/06.
Procuration fee: 0.5%, maximum £2,500, over £500,000-by negotiation.
Arrangement fee: £299
Other: Adverse over three years ignored, no more than three CCJs or defaults in last three years, explanation needed, no FTBs.
Contact: www.pink.uk.net
Platform
Product: Fast track self-cert fixed rate mortgage
Description: Fixed until 01/01/06
Rate: 6.15%
Max LTV: 85% purchase, 80% remortgage
Redemption penalty: 6%,6%,5% in first three years, one month’s notice or 1% thereafter.
Procuration fee: 1%, minimum £500
Arrangement fee: £395
Other: Unlimited CCJs and arrears, none in last three months, bankrupts discharged.
Contact: 0845 070 1999
Platform
Product: Medium adverse fixed rate mortgage
Description: Fixed until 01/01/06
Rate: 5.45% status, 5.75% non status
Max LTV: 85%
Redemption penalty: 6%,6%,5% in first three years, one month’s notice or 1% thereafter.
Procuration fee: 1%, minimum £500
Arrangement fee: £395
Other: CCJs to £7,500 allowed, non in last three months, four months’ arrears allowed, none in last three months, bankrupts discharged.
Contact: 0845 070 1999
Accord Mortgages
Product: Two-year tracker mortgage
Description: BBR+0.25% for two years
Rate: 3.75%
Max LTV: 95%
Redemption penalty: 3% of the amount originally borrowed in the tracker period, overpayments allowed without penalty.
Procuration fee: Refer to lender
Arrangement fee: None
Other: £500 contribution to legal expenses/valuation costs.
Contact: 0845 1200 870
Alliance & Leicester
Product: Cash back lifetime base rate tracker mortgage
Description: BBR+1.75% for life of the loan
Rate: 5.25%
Max LTV: 90%
Redemption penalty: 7% reducing to 2% over the first six years.
Procuration fee: Negotiable
Arrangement fee: None
Other: FTBs and existing A&L customers moving home receive a free valuation.
Contact: www.al.intermediary.co.uk
Norwich and Peterborough BS
Product: Base rate tracker
Description: BBR+0.15% for two years
Rate: 3.65%
Max LTV: 90%
Redemption penalty: 3% of the current balance in the first two years.
Procuration fee: 0.25%, minimum £125, maximum £1,000
Arrangement fee: £199
Other: Free valuation and legal fees for remortgages, reverts to BBR+1%.
Contact: 0845 300 2522
Norwich and Peterborough BS
Product: Base rate tracker
Description: BBR+0.25% for two years
Rate: 3.65%
Max LTV: 95%
Redemption penalty: 3% of the current balance in the first two years.
Procuration fee: 0.25%, minimum £125, maximum £1,000
Arrangement fee: £199
Other: Free valuation and legal fees for remortgages, reverts to BBR+1%.
Contact: 0845 300 2522
Platform
Product: Two-year tracker mortgage
Description: BBR+0.5% for two years
Rate: 4%
Max LTV: 95%
Redemption penalty: 4% of amount redeemed in the first two years.
Procuration fee: 0.35%, minimum £250, maximum £3,500.
Arrangement fee: £395
Other: Underlying rate BBR+1.25%.
Contact: 0845 070 1999
County cuts self-cert discount rate
Branded lender and packager County Mortgages has cut the interest rate on its one-year self-certification discount mortgage to 3.99%.
The mortgage, discounted until 01/09/04, is available, at this rate, up to 75% loan to value (LTV) to both the employed and self-employed. For higher LTVs, there is a 4.49% rate to 85% LTV and 5.49% to 90% LTV. No checks are needed from employers or accountants. Redemption penalties are payable during the first two years of the mortgage: 3% during year one and 2% during year two. Up to 25% of the loan can be paid per annum without penalty.
Tristan Pile, director at County Mortgages, said: ‘MIG-free, no income declaration products at this rate with limited checks are rare. This is a criteria product that will open up avenues that other lenders are not pursuing. Clients who have variable commissions and bonuses, second jobs, investment income and the self-employed can all now borrow at a level which they would not be able to with traditional lending sources.’
The product carries a procuration fee of 0.5% and an arrangement fee of £395.
Contact: 01489 886 777
