Pink Home Loans
Product: Buy-to-let fixed rate mortgage
Funded by: Mortgage Express
Description: Fixed until 03/12/06
Rate: 5.29%
Max LTV: 85%
Redemption penalty: Six months” interest at the fixed rate until 03/12/06.
Procuration fee: 0.5%, no maximum.
Arrangement fee: 1%
Other: Online applications only, one CCJ/default allowed – satisfied.
Contact: www.pink.net.uk
Pink Home Loans
Product: Buy-to-let discount mortgage
Funded by: Mortgage Express
Description: 0.4% discount for five years.
Rate: 4.85%
Max LTV: 85%
Redemption penalty: Six months” interest at BBR + 1.75% for five years.
Procuration fee: 0.5%, no maximum.
Arrangement fee: £399
Other: Unlimited number of properties, one CCJ/default allowed – satisfied.
Contact: www.pink.net.uk
Woolwich
Product: Buy-to-let fixed rate mortgage
Description: Fixed until 02/02/06
Rate: 5.85%
Max LTV: 75%
Redemption penalty: Six months” interest at the BTL SVR or fixed rate, whichever is higher, until 02/02/06.
Procuration fee: On application
Arrangement fee: £350
Other: Available to individuals, limited companies and non-UK residents.
Contact: 0845 604 0581
Amber Homeloans
Product: Feather adverse discount mortgage
Description: Three month Libor + 2% full status, (+2.5% for self cert) with 2% discount until 31/01/06.
Rate: 3.6% or 4.1%
Max LTV: 90%
Redemption penalty: 5% in year one, 4% in year two and 3% in year three, capital repayments of up to 10% pa allowed without penalty.
Procuration fee: Refer to lender
Arrangement fee: £195
Other: High percentage loan fee of 7% charged above 75% LTV, unlimited CCJs to £2,000.
Contact: 01756 694 411
Genesis Home Loans
Product: Pearl self-cert discount mortgage
Description: 1% discount until 01/04/05.
Rate: 5.24%
Max LTV: 85%
Redemption penalty: 5%, 4%, 3% in the first three years respectively.
Procuration fee: Refer to packager
Arrangement fee: £395
Other: No minimum time in employment and no minimum time for self-employed, no income checks, references or accounts, CCJs to £2,000 in past three years, two mortgage/rent arrears in past 12 months.
Contact: 0870 242 1213
Pink Home Loans
Product: FlexAbility discount mortgage
Funded by: Mortgage Express
Description: 1% discount for six months.
Rate: 3.49%
Max LTV: 95%
Redemption penalty: None
Procuration fee: 0.3%
Arrangement fee: £325
Other: One CCJ/default allowed – satisfied.
Contact: www.pink.net.uk
The Market Place
Product: Discount mortgage
Funded by: Alliance & Leicester
Description: 2.15% discount from SVR for two years.
Rate: 3.39%
Max LTV: 95%
Redemption penalty: Six months” interest at SVR for two years.
Procuration fee: None
Arrangement fee: £345
Other: Booking fee £49, £250 cash back, refunded valuation, MIG from 90% LTV.
Contact: www.marketplace.co.uk
Woolwich
Product: Openplan flexible mortgage
Description: 2.35% discount for two years.
Rate: 3.19%
Max LTV: 95%, remortgages 90%.
Redemption penalty: Six months” interest at SVR for two years from completion, 10% repayment allowed annually without penalty.
Procuration fee: On application
Arrangement fee: £295
Other: Available via intermediaries only.
Contact: 0845 604 0581
Coventry Building Society
Product: Fixed rate first-time buyer mortgage
Description: Fixed to 31/12/13
Rate: 5.20%
Max LTV: 90%
Redemption penalty: Six months” interest to 31/12/13.
Procuration fee: Negotiable
Arrangement fee: None
Other: Free valuation, £199 booking fee.
Contact: 0845 766 5522
Coventry Building Society
Product: Self-cert fixed rate mortgage
Description: Fixed to 31/12/08
Rate: 5.29%
Max LTV: 85%
Redemption penalty: Six months” interest to 31/12/08, option to repay 5% pa without penalty.
Procuration fee: Negotiable
Arrangement fee: £100
Other: £199 booking fee. Maximum advance £350,000.
Contact: 0845 766 5522
Nationwide
Product: Fixed rate mortgage
Description: Fixed for two years
Rate: 0%-75% LTV 4.79%; 75%-90% LTV 4.89%; 90%-95% LTV 5.29%.
Max LTV: 95%
Redemption penalty: 2% in year one 1% in year two.
Procuration fee: Refer to lender
Arrangement fee: £185
Other: No MIG or compulsory insurance, free MPPI for 12 months, no valuation or legal fees for remortgagers, flexible features.
Contact: 0800 30 20 10
Nationwide
Product: Fixed rate mortgage
Description: Fixed for three years
Rate: 0%-75% LTV 5.09%; 75%-90% LTV 5.19%; 90%-95% LTV 5.59%.
Max LTV: 95%
Redemption penalty: 3% in year one 2% in year two and 1% in year three.
Procuration fee: Refer to lender
Arrangement fee: £185
Other: No MIG or compulsory insurance, free MPPI for 12 months, no valuation or legal fees for remortgagers, flexible features.
Contact: 0800 30 20 10
Nationwide
Product: Fixed rate mortgage
Description: Fixed for five years
Rate: 0%-75% LTV 5.29%; 75%-90% LTV 5.39%; 90%-95% LTV 5.79%.
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: Refer to lender
Arrangement fee: £185
Other: No MIG or compulsory insurance, free MPPI for 12 months, no valuation or legal fees for remortgagers, flexible features.
Contact: 0800 30 20 10
Abbey
Product: Three-year tracker new-build mortgage
Description: BBR + 0.39% for three years.
Rate: 4.14%
Max LTV: 75%
Redemption penalty: Formula varies but no overhang.
Procuration fee: Refer to lender
Arrangement fee: None
Other: No completion deadline.
Contact: 0870 6000 367
Abbey
Product: Three-year tracker new-build mortgage
Description: BBR + 0.49% for three years.
Rate: 4.24%
Max LTV: 95%
Procuration fee: Refer to lender
Arrangement fee: None
Other: No completion deadline.
Contact: 0870 6000 367
Abbey
Product: Three-year tracker new-build mortgage
Description: BBR + 0.39% for three years.
Rate: 4.34%
Max LTV: 95%
Procuration fee: Refer to lender
Arrangement fee: None
Other: No completion deadline, £200, cash back and free valuation up to £1,100.
Contact: 0870 6000 367
Coventry Building Society
Product: Capped rate tracker mortgage
Description: Capped at 5.99%, tracks BBR + 0 .49% to 31/03/05 then BBR + 1.49% to 31/03/09.
Rate: 4.24%
Max LTV: 95%
Redemption penalty: 1.5% of balance to 31/03/09, can repay 5% pa without penalty.
Procuration fee: Negotiable
Arrangement fee: £100
Other: Free valuation and remortgage transfer service, £199 booking fee.
Contact: 0845 766 5522
Pink Home Loans
Product: Fees-assisted tracker mortgage
Funded by: Staffordshire BS
Description: BBR + 0.3% until 01/02/07.
Rate: 4.05%
Max LTV: 95%
Redemption penalty: 5% of the amount repaid until 01/02/07.
Procuration fee: 0.3%
Arrangement fee: £195
Other: One CCJ to £250 in past three years, up to two months” arrears in months 12 to 24.
Contact: www.pink.net.uk
Go Bananas Inc for sub-prime deal
Fareham-based branded lender and packager Bananas Inc, which launched in May 2003, has unveiled an exclusive sub-prime mortgage for those with difficult credit backgrounds.
The new product, funded by Southern Pacific Mortgage Limited (SPML), is open to those borrowers with unlimited arrears, county court judgements and defaults against their name. No lender or landlord references are required and both bankrupts and IVAs are accepted. The mortgage, which has a minimum loan value of £100,000, comes with £500 cashback.
Sue Cox, business development manager at Bananas Inc, said: “This mortgage is aimed at those borrowers who have particularly testing credit backgrounds. As long as they are turning over a new leaf, we are willing to offer this product to them.”
The loan is available to 80% loan to value and is fixed at 5.99% until 1 September 2004. This is followed by a 7.25% fixed rate until 1 September 2005, when the mortgage then reverts to Libor plus 5.25%.
The product comes with a broker”s procuration fee of 1% and a redemption penalty set at 7% in the first year, 6% in the second, 5% in the third, and 1% in the fourth year. Contact: 0870 6000 648
Self-cert deal from
City Homeloans, the latest branded lending division of Fareham-based packager County Group, has unveiled a self-certification mortgage aiming to suit all borrowers, including first-time buyers.
The product comprises a discount rate of 5.15% until 1 December 2004. Relatively few checks are required and none are needed from employers or accountants. The maximum loan to value is 90% and the lending ceiling is £200,000.
Tristan Pile, director of County Group, said: “City Homeloans can offer a range of all-status products, including prime, flexi and sub-prime schemes. These complement the range provided by other branded and panel lenders already available through County Mortgages. To celebrate the launch of City Homeloans, all sub-prime applications will benefit from a full valuation refund, on completion, until the next Libor review.
“In addition, to make access to schemes easier, we have listed them on sourcing system Trigold Prospector.”
An indemnity fee is charged along with an arrangement fee of £395, which can both be added to the mortgage. There are no compulsory insurances.
Redemption penalties are 4% in the first year, 3% in the second year and 2% in the third year.
Contact: 08707 599 958
