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Abbey National BBR LTV 95%

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  • 17/09/2001
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Provider: Abbey National Product: 'Lifestyle' BBR + 1.00% LTV 95% CAT- Mark: No Cust...

Provider: Abbey National

Product: ‘Lifestyle’ BBR + 1.00% LTV 95%

CAT- Mark: No

Customer response telephone number: 0800 100 800

Largest mortgage lenders ranked by Council of Mortgage Lenders 1999: Second

Bank base rate: 5.00%

Loading on bank base rate: 1.00%

Rate discount: No

Rate payable linked to bank base rate: 6% ‘ bank base rate + 1.00%.

Product available to homemovers: Yes

Product available to first time buyers: Yes

Product available for remortgage cases: Yes

Product available to existing borrowers moving home: Yes

Product available to existing customers who are not moving: Yes

Maximum loan to value allowed for house purchase: 95%

Maximum loan to value allowed for remortgages: 95%

Product available to self-employed only: No

Self-certification of income available: No

Right to buy: Yes up to 100% of discounted purchase price.

Shared ownership: Shared ownership is allowed up to 95% on share of purchase amount ‘ possible report on condition and valuation survey required.

Conditional buildings/contents required by lender: No

Conditional ASU required by lender: No

Interest rate loading if conditional products not taken: No

Compulsories: No

Ability to transfer product to new property without charge: Yes

Cashback available to borrower following completion: No

Refund/no charge for valuation report: All remortgage customers will receive a free valuation for mortgage purposes (up to a maximum of £340) with the added benefit that it is possible to choose either: The ‘hassle-free’ legal service, where the company will arrange and pay for the legal work involved in remortgaging to Abbey National (‘Abbey solicitors’) or a contribution of £250 towards legal fees, if the customer decides to use their own solicitor.

ASU/unemployment cover provided free of charge: No

Buildings/contents offered as an incentive: No

MIG fee is not charged/refunded/reduced: No

Part early redemptions are available with no penalty: No

Interest rest period: Interest is calculated daily and charged on a monthly basis.

Other incentives available to borrower: All Lifestyle products are flexible from day one.

Incentives: No early redemption charge/no MIG/no fees.

Procuration fee: No

Fees payable on application or completion: £150 arrangement fee.

Fee added to loan: No

Charge levied against borrower for early closure of mortgage: No

Distribution channel via branch network: Yes

Distribution available direct: Yes

Distribution available via direct telephone service: Yes

Distribution available via another channel: Yes

Minimum loan allowed on mortgage: £10,000

Maximum loan allowed on mortgages: Negotiable

Lending area restrictions imposed: Lends in England, Wales and Scotland.

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