Discount
Exclusive Connections
Product: 100%+ discounted rate
Funded by: Mortgage Express
Description: 1% discount for two years.
Rate: 5%
Max LTV: 105% (102% for first time buyers).
Redemption penalty: Three months’ interest at variable rate for three years.
Procuration fee: Negotiable
Arrangement fee: £325
Other: Life cover required, must be employed for three years.
Contact: 0870 330 1817
Genesis Home Loans
Product: Planet and Moons Earth Discount
Funded by: Platform Home Loans
Description: 1.5% discount until 1/1/2003.
Rate: 7.25%.
Max LTV: 85%
Redemption penalty: 6% in the first two years, 5% in the third year and 1% or one month’s notice thereafter.
Procuration fee: 1.5%, min £650, max £7,500.
Arrangement fee: £395
Other: Remortgage only, full status, arrears of three payments missed in last 12, maximum one in the last six months or none in the last three, CCJs maximum £3,000, bankruptcy satisfied.
Contact: 01832 275 044
Product: Genesis Pioneer Discount
Funded by: GMAC RFC
Description: Discount to 1/1/2004.
Rate: 3.74% to 90% LTV, 3.99% to 95% LTV.
Max LTV: 95%
Redemption penalty: 5% redemption charge during the discount period.
Procuration fee: Refer to packager.
Arrangement fee: £295
Other: One CCJ of less than £300 with certification of satisfaction, a maximum of one month’s arrears in the last 12 months providing arrears are now up-to-date.
Contact: 01832 275 044
Legal & General Bank
Product: Discount mortgage
Description: Two-year discount of between 0.5% and 0.3%.
Rate: 4.35% to 75% LTV, 4.55% to 95% LTV.
Max LTV: 95%
Procuration fee: Negotiable
Other: Free legal fees on remortgage, £300 cashback on purchase.
Contact: 0500 666 555
Product: Flexible buy-to-let mortgage
Description: Buy-to-let with discount over first three years.
Rate: 4.74%, 4.99%, and 5.24% in years one, two, and three.
Max LTV: 80%
Redemption penalty: 3%, 2%, and 1% in years one, two and three.
Procuration fee: Negotiable
Arrangement fee: £150
Other: £400 cashback.
Contact: 0500 666 555
Fixed
Bristol & West
Product: Three-year fixed rate mortgage
Description: Fixed until 31/1/2005.
Rate: 4.89%.
Max LTV: 95%
Redemption penalty: 5% until 31/1/2005.
Procuration fee: Negotiable
Arrangement fee: £399
Contact: 0117 943 7755
Product: Five-year fixed rate
Description: Fixed until 31/1/2007.
Rate: 4.99%.
Max LTV: 95%
Redemption penalty: 7% until 31/1/2004 then 6% until 31/1/2007.
Arrangement fee: £399
Contact: 0117 943 7755
Product: Five-year fixed fee saver
Description: Fixed until 31/01/2007.
Rate: 5.65%.
Max LTV: 95%
Redemption penalty: 7% until 31/1/2003 then 6% until 31/1/2005, then 5% until 31/1/2007.
Procuration fee: Negotiable
Other: No MIG, valuation and legal fees free.
Contact: 0117 943 7755
Exclusive Connections
Product: Non-status fixed rate
Funded by: Mortgage Express
Description: Fixed until 3/12/2003.
Rate: 6.74%.
Max LTV: 75%
Redemption penalty: Three months’ interest at SVR until 3/12/2003.
Procuration fee: Negotiable
Arrangement fee: £325
Other: Minimum two years in existing business, life cover required.
Contact: 0870 330 1817
Genesis Home Loans
Product: Planet & Moons Earth Fixed
Funded by: Platform Home Loans
Description: Fixed until 1/1/2003.
Rate: 6.25% to 70% LTV, 6.74% to 80% LTV, 6.99% to 85% LTV.
Max LTV: 85%
Redemption penalty: 6% in the first two years, 5% in the third year and 1% or one month’s notice thereafter.
Procuration fee: 1.5%, minimum £650, maximum £7,500
Arrangement fee: £395
Other: Remortgage only, full status, arrears of three payments missed in last 12, maximum one in the last six months or none in the last three, CCJs maximum £3,000, bankruptcy satisfied.
Contact: 01832 275 044
NatWest Bank
Product: Fixed rate
Description: Two-years fixed.
Rate: 5.29% up to 75% LTV, 5.39% up to 95% LTV.
Max LTV: 95%
Redemption penalty: None
Procuration fee: 0.4%, minimum £250.
Arrangement fee: £295
Other: No legal or valuation fees.
Contact: 0800 400 999
Product: Fixed rate
Description: Five-year fixed rate mortgage.
Rate: 5.69%.
Max LTV: 95%
Redemption penalty: Balance of the mortgage times the difference between the NatWest money market rate and the rate paid on the mortgage, times the number of days left on that rate, all divided by 365.
Procuration fee: 0.4%, minimum £250.
Arrangement fee: £295
Other: No tie-ins beyond the fixed rate period. No legal valuation fees.
Contact: 0800 400 999
Self-certification
Exclusive Connections
Product: Exclusive self-certification
Funded by: The Mortgage Business
Description: 1.5% discount until 1/2/2003.
Rate: 4.84%.
Max LTV: 85%
Redemption penalty: Four months’ interest in year one, three months’ interest in year two, two months’ interest in year three, one month’s interest or notice in lieu thereafter.
Procuration fee: Negotiable
Arrangement fee: £299
Other: Self-employed minimum trading period two years, up to three CCJs of a maximum total £1,000 subject to explanation. No proof of income is required.
Contact: 0870 330 1817
Genesis Home Loans
Product: Planet & Moons Earth Discount self-cert
Funded by: Platform Home Loans
Description: Fixed until 1/1/2003.
Rate: 7.75%.
Max LTV: 85%
Redemption penalty: 6% in the first two years, 5% in the third year and 1% or one month’s notice thereafter.
Procuration fee: 1.5%, minimum £650, maximum £7,500.
Arrangement fee: £395
Other: Remortgage only, self-certification, arrears of three payments missed in last 12 months, maximum one in the last six or none in the last three, CCJs maximum £3,000, bankruptcy satisfied. Current standard pay rate is Libor plus 4.25%.
Contact: 01832 275 044
Product: Planet & Moons Earth Fixed self-cert
Funded by: Platform Home Loans
Description: Fixed until 1/1/2003.
Rate: 6.25% to 70% LTV, 6.74% to 80% LTV, 6.99% to 85% LTV.
Max LTV: 85%
Redemption penalty: 6% in the first two years, 5% in the third year and 1% or one month’s notice thereafter.
Procuration fee: 1.5%, minimum £650, maximum £7,500.
Arrangement fee: £395
Other: Remortgage only, self-certification, arrears of three payments missed in last 12 months, maximum one in the last six months or none in the last three, CCJs maximum £3,000, bankruptcy satisfied.
Contact: 01832 275 044
Mortgage 2000
Product: Fixed rate self-certification mortgage
Funded by: Verso
Description: Fixed until 01/01/04.
Rate: 3.99%, 4.49%, 4.99%, or 5.49% dependent on redemption terms
Max LTV: 95%
Redemption penalty: 5% of outstanding loan for benefit period, then 5% for either three years, two years, one year or no overhang, dependent on rate.
Procuration fee: 0.5%, minimum £350.
Arrangement fee: £395
Other: Reverts to Verso base rate, which tracks BOE.
Contact: 0845 3455 701
TRACKER
Exclusive Connections
Product: Shared exclusive base rate tracker.
Funded by: Bristol & West CMS
Description: BOE base rate + 0.7% for three years.
Rate: 4.7%.
Max LTV: 95%
Redemption penalty: 5% of sum repaid in years one and two, 4% of sum repaid in years three and four.
Procuration fee: Negotiable
Arrangement fee: Nil
Other: Reverts to BOE base rate +1% for remainder of term, one CCJ or default up to £250.
Contact: 0870 330 1817
TMO launches ˜Lettings Discount’
The Mortgage Operation (TMO) has introduced a new range of mortgages called ˜Lettings Discounts’ for people investing in the property market.
Funded by Mortgage Express, the range has four rates to suit differing cash flow needs.
Borrowers can choose from 2.75% discount for one year, 1.4% for two years, 0.76% for three years, or 0.76% for five years. The range is available up to 80% LTV and has redemption terms of six months’ interest in the first three years for the one and two-year discounts, or six months’ interest in the discount period for the three and five-year discounts.
Stuart Johnson, TMO sales director, said: ‘The range of options on the lettings discounts means borrowers can opt for a large discount up-front or a longer term, more moderate discount. For example, if a borrower wants to further invest in a property in the first year, they might take up the 2.75% option, freeing extra cash for renovations. Those remortgaging might want a longer term discount. There is also flexibility, with the freedom to choose over and underpayments and payment holidays.’
Procuration fees are set at 0.5% and an arrangement fee of £325 is payable.
Contact: 020 7571 2414
