BUY TO LET
Mortgage 2000
Product: Buy-to-let discount mortgage
Funded by: Verso
Description: 1.25% discount for five years.
Rate: 4.73%
Max LTV: 80%
Redemption penalty: 5% of outstanding loan for first three years.
Procuration fee: 0.25%
Arrangement fee: 1%, minimum £500.
Other: No MIG, £70 up-front booking fee.
Contact: 01244 665 700
Pink Home Loans
Product: Standard 25 to let mortgage
Funded by: Birmingham MS
Description: Either BBR + 1.95% for life of loan, or 0.66% discount for two years.
Rate: 5.95% or 5.29%
Max LTV: 75%
Redemption penalty: None, or 5% of amount repaid in year one and 4% in year two with discount option.
Procuration fee: 0.5%
Arrangement fee: £299
Other: Daily interest, no MIG, up to 25 properties with a total value £2.5m.
Contact: www.pink.uk.net
The Mortgage Operation
Product: Buy-to-let mortgage
Funded by: Bristol & West
Description: 0.9% discount for three years.
Rate: 4.85%
Max LTV: 85%
Redemption penalty: 5% in first two years.
Procuration fee: 0.35%, minimum £200.
Arrangement fee: £399
Other: No MIG.
Contact: 0845 130 3888
DISCOUNT
Exclusive Connections
Product: Shared Exclusive discount rate mortgage
Funded by: Bristol & West
Description: 1.96% discount until 31/12/2004.
Rate: 3.99%
Max LTV: 95%
Redemption penalty: 5% of the sum repaid until 31/12/2004.
Procuration fee: Negotiable
Other: No valuation fee, free legals for remortgages, one CCJ or default to £250, no CCJs or defaults in last three years for first-time buyers, MIG from 75%.
Contact: 0870 330 1817
Market Harborough BS
Product: Discount mortgage
Description: 2% discount for two years, then 1% discount for term.
Rate: 3.74%
Max LTV: 80%
Redemption penalty: Six months’ interest at SVR for the first three years, then one month’s interest or notice.
Procuration fee: £300, plus £75 if the LTV is less than 75% and the loan is more than £75,000.
Arrangement fee: £295
Other: Refund of first three months’ ASU payments, three months’ free buildings and contents, flexible options. Repayments to 10% allowed without penalty.
Contact: 01858 463 244
Mortgage 2000
Product: Exclusive 1 stepped discount mortgage
Funded by: SPML
Description: Discount until 1/6/2003, reverts to Libor 6.5% for one year, then Libor 7.25% for term.
Rate: Initial rate of 5.5%
Max LTV: 80%
Redemption penalty: 7% of out-standing loan in first three years.
Procuration fee: 1.5%, minimum £750, maximum £7,500.
Arrangement fee: £495
Other: Up to £10,000 unsatisfied CCJs, four months arrears in last 12 months’, unlimited defaults, repossession minimum 12 months.
Contact: 01244 665 700
The Mortgage Business
Product: Cash-back remortgage
Funded by: Bristol & West
Description: 0.79% BBR tracker to 1/3/2004 (0.7% discount).
Rate: 4.79%
Max LTV: 95%, (85% for self-cert).
Redemption penalty: Four, three, two months’ gross interest in the first three years, then one month’s notice or interest in lieu.
Procuration fee: £150
Arrangement fee: £299
Other: Reverts to BBR + 1.49% for life of loan.
Contact: 08457 253 253
The Mortgage Operation
Product: Discount mortgage
Funded by: Bristol & West
Description: 2.06% discount until 31/1/2005.
Rate: 3.89%
Max LTV: 95%
Redemption penalty: 5% until 31/1/2005.
Procuration fee: 0.35%, minimum £200.
Arrangement fee: £399
Other: No MIG.
Contact: 0845 130 3888
FIXED
Exclusive Connections
Product: Shared Exclusive fixed rate mortgage
Funded by: Bristol & West
Description: Fixed until 31/12/2004.
Rate: 3.95%
Max LTV: 95%
Redemption penalty: 5% of the sum repaid until 31/12/2004.
Procuration fee: Negotiable
Arrangement fee: £399
Other: One CCJ or default to £250, no CCJs or defaults in last three years for first-time buyers, MIG from 75%.
Contact: 0870 330 1817
Product: Shared Exclusive fixed rate mortgage
Funded by: Bristol & West
Description: Fixed until 31/12/2004.
Rate: 4.29%
Max LTV: 95%
Redemption penalty: 5% of the sum repaid until 31/12/2004.
Procuration fee: Negotiable
Arrangement fee: None
Other: No valuation fee, free legals for remortgages, one CCJ or default to £250, no CCJs or defaults in last three years for first-time buyers, MIG from 75%.
Contact: 0870 330 1817
Market Harborough BS
Product: Two-year fixed rate mortgage
Description: Four rates with differing extended redemption penalties.
Rate: 2.99% (three-year extended penalty), 3.99% (two-year extended penalty), 4.49% (one-year extended penalty, 5.24% (no extension penalty).
Max LTV: 90%
Redemption penalty: Six months’ interest at SVR for fixed period plus extension, thereafter one month’s interest or notice in lieu.
Procuration fee: £300 plus £75 if LTV is less than 75% and loan is more than £75,000.
Arrangement fee: £295
Other: Refund of first three months’ ASU payments, three months’ free buildings and con-tents insurance, flexible options. Repayments to 10% allowed without penalty.
Contact: 01858 463 244
Mercantile Direct
Product: Fixed rate mortgage
Description: Fixed until 1/11/ 2005 ‘ outside North East England.
Rate: 4.39%
Max LTV: 75%
Redemption penalty: 5% in year one, 4% in year two, 3% in year three.
Procuration fee: 0.25 % registered individuals only.
Arrangement fee: £295
Contact: 0500 295 500
Product: Fixed rate mortgage
Description: Fixed until 1/11/2005 ‘ North East England only.
Rate: 4.39% to 75% LTV, 4.49% to 90% LTV.
Max LTV: 90%
Redemption penalty: 5% in year one, 4% in year two, 3% in year three.
Procuration fee: Registered introducers 0.25%.
Arrangement fee: £295
Contact: 0500 295 500
Pink Home Loans
Product: Standard two-year fixed rate mortgage
Funded by: GMAC-RFC
Description: Fixed to 1/3/2005.
Rate: 4.15% to 90% LTV, 4.35% to 95% LTV.
Max LTV: 95%
Redemption penalty: 3% of the amount repaid until 1/3/2005.
Procuration fee: 0.35%
Arrangement fee: £395
Other: MIG from 90% ‘ calculated from 75% LTV, one CCJ to £300 or one month’s arrears in the last 12 months accepted.
Contact: www.pink.uk.net
SELF CERT
Pink Home Loans
Product: Self-cert discount mortgage
Funded by: TMB
Description: 1.6% discount until 1/1/2004.
Rate: 4.24%
Max LTV: 85%
Redemption penalty: Three months’ gross interest in first year, two months’ in year two, one month in year three, then one month’s interest or notice.
Procuration fee: 0.5%, maximum £2,500.
Arrangement fee: £299
Other: MIG above 70% LTV, adverse history over three years ignored, three or less CCJs of less than £1,000 allowed in the last three years, one month’s arrears allowed.
Contact: www.pink.uk.net
Product: Self-cert remortgage
Funded by: TMB
Description: 0.75% over BBR to 31/1/2004 (0.74% discount).
Rate: 4.75%
Max LTV: 85%
Redemption penalty: Four months’ gross interest in year one, three months’ in year two, two months’ in year three, then one month’s interest or notice in lieu.
Procuration fee: 0.5%, maximum £2,500.
Arrangement fee: £399
Other: Underlying rate is BBR + 1.49%.
Contact: www.pink.uk.net
The Mortgage Operation
Product: Self-cert discount mortgage
Funded by: Bristol & West
Description: 1.2% discount until 31/7/2004.
Rate: 4.55%
Max LTV: 85%
Redemption penalty: 5% until 31/7/2004.
Procuration fee: 0.5%
Arrangement fee: £299
Contact: 0845 130 3888
STANDARD
Market Harborough BS
Product: SVR base rate mortgage
Description: Flexible SVR.
Rate: 5.74%
Max LTV: 90%
Redemption penalty: One months interest or notice.
Procuration fee: £300 plus £75 if LTV is less than 75% and loan is more than £75,000.
Other: First three months’ ASU payments refunded, three months’ free buildings and contents insurance
Contact: 01858 463 244
B&W offers helping hand with 110% LTV
Bristol & West Mortgages is helping potential homeowners onto the housing ladder with the pilot of a ˜100 Plus’ mortgage.
This mortgage allows customers to borrow up to 110% of the value of their property. It allows up to 95% LTV as a secured loan and any additional borrowing up to 15% as a second charge on the property.
Borrowers can still borrow up to four times their income, subject to a clean credit history and earning £20, 000 plus. Each case is looked at on an individual basis and manually credit scored.
This mortgage may be paid back over a longer period, (right up to retirement age) if it will help them to afford their re-payments. The product carries a 5.69% (variable) rate equal to BBR + 1.69% for the term of the loan. Early repayment charges are 5% for two years from completion then 4% for a further year. A £299 arrangement fee is payable.
The mortgage is being piloted through a small number of brokers who have had experience of doing high LTV business. The pilot will last for six weeks.
Contact: 0117 943 7755
