BUY TO LET
Mortgage 2000
Product: Exclusive five-year discount buy-to-let mortgage
Funded by: Verso
Description: 0.95% discount for five years.
Rate: 5.03%
Max LTV: 85%
Redemption penalty: 5% of outstanding loan for first three years.
Procuration fee: 0.25%
Arrangement fee: 1%, minimum £500.
Other: £70 booking fee, no MIG.
Contact: 01244 665 700
Pink Home Loans
Product: Exclusive buy-to-let fixed rate mortgage
Funded by: Mortgage Express
Description: Fixed to 3/3/2004, 3/3/2006 or 3/3/2008.
Rate: 2.49%, 4.99% or 5.24%.
Max LTV: 85%
Redemption penalty: Six months’ interest at variable rate to 3/3/2006, six months’ interest at fixed rate to 3/3/2006 or 3/3/2008.
Procuration fee: 0.5%, no maximum.
Arrangement fee: £399
Other: No MIG, no adverse.
Contact: www.pink.uk.net
Product: Exclusive buy-to-let remortgage
Funded by: Mortgage Express
Description: Fixed to 3/3/2006.
Rate: 5.35%
Max LTV: 85%
Redemption penalty: Six months’ interest at fixed rate to 3/3/2006.
Procuration fee: 0.5%, no minimum.
Arrangement fee: None
Other: No valuation fee, free legals from Mortgage Express solicitor.
Contact: www.pink.uk.net
DISCOUNT
Amber Homeloans
Product: Two-year full status discount medium adverse mortgage
Description: Libor + 2.5% with 1% discount to 30/4/2005.
Rate: 5.53%
Max LTV: 85%
Redemption penalty: 5% in year one, 4% in year two and 3% in year three.
Procuration fee: Negotiable
Arrangement fee: £395
Other: Unlimited CCJs to £10,000, three missed payments in last 12 months, one in last six months. Up to 10% repayment annually without penalty.
Contact: 0870 601 3205
Chelsea BS
Product: Discount rate mortgage
Description: 1.5% discount for three years.
Rate: 4.19%
Max LTV: 95%
Redemption penalty: 3% for the first three years.
Procuration fee: Negotiable
Arrangement fee: None
Other: £245 administration fee, free legal fees or £200 contribution.
Contact: 0800 291 291
Product: Discount rate remortgage
Description: 1.25% discount for three years.
Rate: 4.44%
Max LTV: 95%
Redemption penalty: 3% for the first three years.
Procuration fee: Negotiable
Arrangement fee: None
Other: No administration fee, free legal fees or £200 contribution.
Contact: 0800 291 291
Legal & General Mortgage Club
Product: Two-year discount mortgage
Description: 2.25% discount for two years.
Rate: 3.7%
Max LTV: 95%, 90% for remortgages.
Redemption penalty: Six months’ interest at SVR in first two years.
Procuration fee: Up to 0.45%.
Arrangement fee: £99
Other: Up to 10% repayable annually without penalty.
Contact: 0845 300 9977
Mortgage 2000
Product: Exclusive discount 2004
Funded by: The Mortgage Business
Description: 1.6% discount until 1/1/2004.
Rate: 4.24%
Max LTV: 85%
Redemption penalty: Three, two and one month’s gross interest in the first three years respectively, then one month’s notice or interest.
Procuration fee: 0.5%, maximum £2,500.
Arrangement fee: £299
Contact: 01244 665 700
Pink Home Loans
Product: Exclusive self-cert adverse discount mortgage
Funded by: Birmingham Midshire Solutions
Description: 1.2% discount for two years.
Rate: 5.5%
Max LTV: 85%
Redemption penalty: 0.5% of the amount repaid in year one, 4% in year two.
Procuration fee: 0.5%, minimum £250, maximum £2,500.
Arrangement fee: £299
Other: No MIG, daily interest, CCJs to £4,000 ‘ none in the last three months, up to two missed payments in last 12 months ‘ none in last three months.
Contact: www.pink.uk.net
FIXED
Amber Homeloans
Product: Two-year fixed self-cert heavy adverse mortgage
Description: Fixed until 30/4/2005.
Rate: 6.44%
Max LTV: 85%
Redemption penalty: 5% in year one, 4% in year two and 3% in year three.
Procuration fee: Negotiable
Arrangement fee: £395
Other: Unlimited CCJs to £20,000, four missed payments in last 12 months, two in last six months. Up to 10% repayment annually without penalty.
Contact: 0870 601 3205
Product: Two-year fixed rate full status light adverse mortgage
Description: Fixed until 30/4/2005.
Rate: 4.99%
Max LTV: 85%
Redemption penalty: 5% in year one, 4% in year two and 3% in year three. Up to 10% repay-ment annually without penalty.
Procuration fee: Negotiable
Arrangement fee: £395
Other: Unlimited CCJs to £5,000, Two missed payments in last 12 months, none in last six months.
Contact: 0870 601 3205
Bristol & West
Product: Five-year fixed rate mortgage
Description: Fixed until 31/3/2008.
Rate: 4.49%
Max LTV: 95%
Redemption penalty: 7% until 31/3/2004 then 6% until 31/3/2006 then 5% until 31/3/2008.
Procuration fee: Negotiable
Arrangement fee: £299
Contact: 0117 943 7755
Product: Two-year fixed rate mortgage
Description: Fixed until 31/3/2005.
Rate: 3.95%
Max LTV: 95%
Redemption penalty: 5% until 31/3/2005.
Procuration fee: Negotiable
Arrangement fee: £299
Contact: 0117 943 7755
Product: Two-year fixed rate mortgage
Description: Fixed until 31/3/2005.
Rate: 4.29%
Max LTV: 95%
Redemption penalty: 5% until 31/3/2005.
Procuration fee: Negotiable
Arrangement fee: None
Other: No valuation fee, free legals for remortgagors ‘ now available in Scotland.
Contact: 0117 943 7755
Chelsea BS
Product: Fixed rate mortgage
Description: Fixed until 1/4/2005.
Rate: 3.99%
Max LTV: 95%
Redemption penalty: 3% until 1/4/2005.
Procuration fee: Negotiable
Arrangement fee: £395
Other: £245 administration fee, free legal fees or £200 contribution.
Contact: 0800 291 291
Legal & General Mortgage Club
Product: Fixed rate mortgage
Description: Fixed until 30/4/2004.
Rate: 3.79%
Max LTV: 95%, 90% for remortgages.
Redemption penalty: Six months’ interest at SVR until 30/4/2006, up to 10% repayable annually without penalty.
Procuration fee: Up to 0.45%.
Arrangement fee: £199
Contact: 0845 300 9977
Pink Home Loans
Product: Exclusive self-cert fixed
Funded by: Amber Homeloans
Description: Fixed to 30/4/2008.
Rate: 5.49%
Max LTV: 90%
Redemption penalty: 5%/4%/ 3%/2%/1% in first five years respectively.
Procuration fee: 0.5% maximum £2,500.
Arrangement fee: £395
Other: Daily interest, no adverse or first-time buyers, up to 10% can be repaid annually without penalty.
Contact: www.pink.uk.net
TRACKER
Mortgage 2000
Product: Exclusive H to H tracker mortgage
Funded by: The Mortgage Business
Description: Tracker to term.
Rate: 5.29%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.5%, maximum £2,500.
Arrangement fee: 1%
Contact: 01244 665 700
Pink Home Loans
Product: Self-cert tracker
Funded by: GMAC-RFC
Description: BBR + 0.85% for term of loan.
Rate: 4.85%
Max LTV: 85%
Redemption penalty: 3% of the amount repaid in year one, 2% in year two and 1% in year three.
Procuration fee: 0.5%
Arrangement fee: £395
Other: No MIG, daily interest, one CCJ (maximum £3,000) satisfied or one month’s arrears may be considered.
Contact: www.pink.uk.net
5% cashback deal from UCB Home Loans
UCB Home Loans has launched a new mortgage providing borrowers with 5% cashback. The product is a five-year tracker based on the BBR + 1.99%, giving it a current interest rate of 5.99%.
The mortgage is available to both first-time buyers and remortgagors. Loan to value (LTV) is 85%, effectively providing the borrower with 90% of the purchase price when the 5% cashback is included. A £295 arrangement fee applies to the mortgage, plus a processing fee which varies from £199 up to £100,000, to £1 per £1,000 borrowed over £300,000.
Charles Reed, managing director of UCB Home Loans, said: ‘Nationwide’s latest figures show the average deposit a first-time buyer needs to raise has increased dramatically over recent years, from £5,000 in 1996 to over £18,000 in 2001 for the UK, and over £31,000 in London.
‘Cashback has been a regular and popular feature in our product portfolio and this product may appeal to first-time buyers, who often find their savings are stretched to cover all the expenses of a property purchase.’
Redemption penalties apply for the first five years and are on a sliding scale; for the first three years it is four months’ interest plus 100%, 80% and 60% respectively of cashback.
Contact: 0845 940 1400
