You are here: Home - News -

Charcol offers borrowers bulk-buy benefits in their new mortgage

  • 01/02/2001
  • 0
Independent mortgage adviser Charcol is leading the way with a new product concept - bulk-buy mortga...

Independent mortgage adviser Charcol is leading the way with a new product concept – bulk-buy mortgages.

The leading intermediary has teamed up with three major lenders – Birmingham Midshires, GMAC and Woolwich – to unveil an innovative product range which increases benefits for customers as more people sign up.

According to Charcol, each product in the range has a market-leading rate even before the bulk-buy benefits begin. Once a set number of applications are received, benefits are enhanced for all applicants, meaning everyone can take advantage of the final rate achieved.

Products are available for two weeks, or until they sell out. When the offer closes, customers are notified of the final specifications, or alternatively they can check the progress of the product on Charcol’s website.

Products included in the deal are Birmingham and Midshire’s two year discount mortgage, offering a final enhancement of £400 cashback and up to 10% penalty free repayment each year, GMAC’s two year fixed mortgage, offering a fixed rate of 5.39% or 5.59% depending on LTVs and £385 cashback, and Woolwich’s Open Plan remortgage-only loan, with increased cashback of £650 or free legal fees and £350 cashback.

If the final enhancement level is not reached, customers can decide not to proceed and will have their £49 booking fee refunded.

Ray Boulger, senior technical manager at Charcol, said: “As an independent broker, Charcol has spent the last six years building up considerable buying power within the UK market, and we are always looking for new ways to use this to our customers’ advantage.”

Simon Knight of GMAC added: “We are delighted to be involved in kick-starting this exciting new mortgage concept which represents the ideal ‘win-win’ scenario – the more business we attract, the better the deal for the consumer.”


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.


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.


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.


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:
HSHL launches in Northern Ireland

High Street Home Loans has announced that its full range of mortgage products is to be made availabl...