BUY TO LET
Pink Home Loans
Product: Buy-to-let discount mortgage
Description: 1% discount until 1/7/2005.
Rate: 4.95%
Max LTV: 80%
Redemption penalty: None
Procuration fee: Up to 0.5% (minimum £200, maximum £1,400).
Arrangement fee: £295
Other: Via direct submission only.
Contact: 01543 441 505
Product: Buy-to-let discount
Funded by: Royal Bank of Scotland
Description: 1% discount form SVR until 1/7/2005.
Rate: 4.95%
Max LTV: 80%
Redemption penalty: None
Procuration fee: 0.5%, minimum £250 maximum £1,400.
Arrangement fee: £295
Other: Maximum of five properties
Contact: www.pink.uk.net
CAPPED
Bristol & West
Product: Capped rate mortgage
Description: Capped at 5.99% until 30/6/2004.
Rate: 4.29%
Max LTV: 95%
Procuration fee: Negotiable
Booking fee: £399
Other: No extended tie-in. £399 non-refundable booking fee.
Contact: 0117 943 775
DISCOUNT
Bristol & West
Product: Discount mortgage
Description: 1.96% discount off SVR until 30/6/2004.
Rate: 3.99%
Max LTV: 95%
Redemption penalty: 5% until 30/6/2004.
Procuration fee: Negotiable
Booking fee: £399
Other: No extended redemption charges.
Contact: 0117 943 7755
Product: Discount mortgage
Description: 2.06% off SVR until 30/6/2004.
Rate: 3.89%
Max LTV: 95%
Redemption penalty: 5% until 30/6/2004.
Procuration fee: Negotiable
Booking fee: £399
Other: No extended redemption charges.
Contact: 0117 943 7755
Product: Discount mortgage
Description: 1.72% discount until 30/6/2004.
Rate: 4.23%
Max LTV: 95%
Redemption penalty: 5% of sum repaid until 30/6/2004, redemption fee of £100.
Procuration fee: Negotiable
Arrangement fee: £399
Other: Free valuation, £300 cashback towards legal fees.
Contact: 0870 330 1817
Britannic Money
Product: Discount mortgage
Description: 1.90% discount for two years.
Rate: 3.99%
Max LTV: 95%
Redemption penalty: 3% in years one and two.
Procuration fee: 0.35%
Arrangement fee: £199
Other: No loading for self-certification, current account option, free MPPI for first six months, product available until 31/7/2002.
Contact: 01372 737 737
Capital Home Loans
Product: Discount mortgage
Description: 0.49% discount for first six months from completion.
Rate: 0.99% above BBR.
Max LTV: 95%
Redemption penalty: None
Procuration fee: 0.5%
Arrangement fee: £295
Other: No MIG.
Contact: 01252 365 801
Exclusive Connections
Product: Discount
Funded by: Bristol & West
Description: 1.85% discount until 30/6/2004.
Rate: 4.10%
Max LTV: 95%
Redemption penalty: 5% sum repaid until 30/6/2004 plus redemption fee of £100.
Procuration fee: Negotiable
Arrangement fee: £399
Other: No MIG up to 85% LTV, remortgage available.
Contact: 0870 330 1817
Product: 100% mortgage
Funded by: Mortgage Express
Description: 1.01% discount for three years, fixed until 3/9/2004.
Rate: 4.99%, 5.49%.
Max LTV: 105%
Redemption penalty: 5.59% ‘ six months interest at SVR until 3/9/2005, 4.99% ‘ six months’ interest at the variable rate for first three years.
Procuration fee: Negotiable
Arrangement fee: £325
Other: Minimum loan £50,000 maximum £250,000, no MIG, flexible payments.
Contact: 0800 587 7272
Genesis Home Loans
Product: Sapphire
Description: Discounted sub-prime mortgage.
Rate: 6.49% until 31/12/ 2003.
Max LTV: 80%
Redemption penalty: 5% year one, 4% year two, 3% year three plus £95.
Procuration fee: 1%
Arrangement fee: £395
Other: After 31/12/2003 rate reverts to 7.74%.
Contact: 01832 275 044
Lambeth BS
Product: Discount mortgage
Description: 1.70% discount for two years.
Rate: 4.25% for two years.
Max LTV: 90%
Redemption penalty: None
Procuration fee: 0.25%
Arrangement fee: None
Other: No application fee, no legal charges, applicants receive £150 holiday voucher.
Contact: 08000 28 69 28
Mortgages plc
Product: Discount mortgage
Description: 0.20% below SVR until 1/8/2003.
Rate: 5.75%
Max LTV: 85%
Redemption penalty: 6% of outstanding capital balance in the first three years.
Procuration fee: 1%
Arrangement fee: £395
Contact: 0845 60 50 402
Product: Discount mortgage
Description: 0.50% above SVR until 1/8/2003.
Rate: 6.45%
Max LTV: 80%
Redemption penalty: 6% of outstanding capital balance in first three years.
Procuration fee: 1%
Arrangement fee: £395
Contact: 0845 60 50 402
FIXED RATE
Capital Home Loans
Product: Self-certification mortgage
Description: Fixed for two years.
Rate: 5.99%
Max LTV: 90%
Redemption penalty: None for fixed period.
Procuration fee: 0.85%
Arrangement fee: £295
Contact: 01252 365 801
Cheltenham & Gloucester
Product: Fixed rate mortgage
Description: One to seven-year fixed.
Rate: One year ‘ 4.99%, two ‘ 5.29%, three ‘ 5.49%, five ‘ 5.69%, seven ‘ 5.69%.
Max LTV: 95%
Redemption penalty: Calc-ulated as a % of the amount repaid.
Procuration fee: £175 ‘ £1,000 depending on loan size.
Administration fee: £199
Other: Early repayment charges restricted to length of fixed rate, loan must start by 29/11/ 2002.
Contact: 0800 272 131
SELF-CERT
Exclusive Connections
Product: Self-certification mortgage
Funded by: Birmingham Midshires Solutions
Description: BBR + 1.89% for mortgage term.
Rate: 5.89%
Max LTV: 85%
Redemption penalty: 3% of amount repaid year three, 2% year four, 1% year five.
Procuration fee: Negotiable
Arrangement fee: None
Other: 3% cashback paid on completion.
Contact: 0870 330 1817
Product: Self-cert mortgage
Funded by: Birmingham Midshires Solutions
Description: BBR + 1.89% for mortgage term.
Rate: 5.89%
Max LTV: 85%
Redemption penalty: 5% year one, 4% year two, 3% year three, 2% year four, 1% year five.
Procuration fee: Negotiable
Arrangement fee: None
Other: 5% cashback paid on completion.
Contact: 0870 330 1817
Product: Semi-exclusive self-cert mortgage
Funded by: Birmingham Midshires Solutions
Description: BBR + 1.89% for life of mortgage, 5%, 4%, 3% cashback options.
Rate: 5.89%
Max LTV: 85%
Redemption penalty: 5%, 4%, 3%, 2%, 1% of amount repaid in first five years for 5% cashback, 4%, 3%, 2%, 1% for 4% cashback and 3%, 2%, 1% for 3% cashback.
Procuration fee: Negotiable
Arrangement fee: None
Other: Daily interest, first time buyers accepted, employed and self-employed.
Contact: 0870 330 1817
TRACKER
The Mortgage Business
Product: Tracker
Description: Base rate tracker to 1/9/2003.
Rate: 0.79% to 1/9/2003 then 1.49%.
Max LTV: 95%
Redemption penalty: Four, three, two months’ gross interest in first three years then one month’s notice, or interest in lieu of notice thereafter.
Procuration fee: £150
Arrangement fee: £299
Other: £400 cashback on completion, available for remortgages.
Contact: 08457 253 253
Pink and Mortgages plc team up
Pink Home Loans has teamed up with Mortgages plc to launch a range of new sub-prime mortgage products paying up to 1.25% broker commission.
The products track the bank base rate with a 1.5% discount until 1/8/2003. LTV is available up to 95% of the loan and rates are tiered according to the LTV.
Peter Beaumont, sales and marketing director at Pink Home Loans, said: ‘The simplicity and transparency of base rate tracker products are big selling points to introducers and borrowers alike. We have invested significant time and effort into developing these products.’
If an express payment request form is completed, Pink Home Loans also pledges to pay broker commission within 24 hours of legal completion. This can be paid straight into the broker’s bank account.
Early redemption charges are 6% in the first three years then one month’s notice or interest in lieu thereafter.
The arrangement fee for the range is £395.
Contact: 08707 590 169
