Alliance & Leicester
Product: Flexible discount mortgage
Description: 2.2% discount off SVR for two years.
Rate: 3.59%
Max LTV: 95%
Redemption penalty: Six months’ gross interest during the discount period.
Procuration fee: Negotiable
Arrangement fee: £295
Other: Full flexibility, free valuations to all borrowers, further incentives dependent on borrower status.
Contact: 0845 303 3000
Pink Home Loans
Product: Heavy adverse self-cert discount mortgage
Funded by: Platform
Description: 1.07% discount to 01/09/04
Rate: 3.62%
Max LTV: 85%
Redemption penalty: 6% of the amount redeemed in years one and two, 5% in year three, one month’s notice or interest thereafter.
Procuration fee: 1%, minimum £500, maximum £5,000.
Arrangement fee: £395
Other: MIG from 75% LTV at 6.95%, County Court Judgements ignored if under £100, satisfied six months or over three years old. All arrears over 12 months ignored, defaults ignored.
Contact: www.pink.uk.net
Accord Mortgages
Product: Two-year fixed rate mortgage
Description: Fixed until 31/07/05
Rate: 3.69%, 3.99% for fee assisted version.
Max LTV: 95%
Redemption penalty: 3% to 31/07/05
Procuration fee: Negotiable
Arrangement fee: £225, none for fee assist version.
Other: Fee assist version has £500 contribution to legal and valuation fees, flexible features.
Contact: www.accordmortgages.com, 0845 1200870
Accord Mortgages
Product: Five-year fixed rate mortgage
Description: Fixed until 31/07/08
Rate: 4.34%, 4.55% for fee assisted version.
Max LTV: 95%
Redemption penalty: 6% to 31/07/04, 5% to 31/07/06, 4% to 31/07/07, 3% to 31/07/08.
Procuration fee: Negotiable
Arrangement fee: £225, none for fee assist version.
Other: Fee assist version has £500 contribution to legal and valuation fees, flexible features.
Contact: www.accordmortgages.com, 0845 1200 870
Alliance & Leicester
Product: Five-year fixed rate mortgage
Description: Fixed until 31/08/08
Rate: 3.89% or 4.09%
Max LTV: 95%
Redemption penalty: Six months’ gross interest during fixed rate period.
Procuration fee: Negotiable
Arrangement fee: £595 or £295
Other: Full flexibility, free valuations to all borrowers, further incentives dependent on borrower status.
Contact: 0845 303 3000
Alliance & Leicester
Product: Two-year fixed rate mortgage
Description: Fixed until 31/08/05
Rate: 3.39%
Max LTV: 95%
Redemption penalty: Six months’ gross interest during the fixed rate period.
Procuration fee: Negotiable
Arrangement fee: £295
Other: Free valuations to all borrowers, further incentives dependent on borrower status.
Contact: 0845 303 3000
Cheshire BS
Product: Fixed rate mortgage
Description: Fixed for 25 years
Rate: 5.14% to 80% LTV, 5.24% to 95% LTV
Max LTV: 95%
Redemption penalty: Details available on request, final five years have no penalties and there are other early repayment windows.
Procuration fee: Refer to lender.
Arrangement fee: £275
Other: Penalty free repayments of £5,000 per annum allowed.
Contact: 01625 613 612
Cheshire BS
Product: Fixed rate mortgage
Description: Fixed for 20 years
Rate: 5.14% to 80% LTV, 5.24% to 95% LTV
Max LTV: 95%
Redemption penalty: Details available on request, final five years have no penalties and there are other early repayment windows.
Procuration fee: Refer to lender
Arrangement fee: £275
Other: Penalty free repayments of £5,000 per annum allowed.
Contact: 01625 613 612
Cheshire BS
Product: Fixed rate mortgage
Description: Fixed for three years
Rate: 3.79% to 80% LTV, 4.07% to 95% LTV
Max LTV: 95%
Redemption penalty: Details on request, will include a £250 representing repayment of legal fees.
Procuration fee: Refer to lender
Arrangement fee: £275
Other: Penalty free repayments of £5,000 per annum allowed.
Contact: 01625 613 612
Kent Reliance BS
Product: Fixed rate mortgage
Description: Fixed for ten years
Rate: 4.78% to 75% LTV, 5.03% to 95% LTV
Max LTV: 95%
Redemption penalty: 3% of amount repaid during fixed rate period
Procuration fee: On application
Arrangement fee: £395
Other: Strictly limited offer.
Contact: 08451 220033
Leeds & Holbeck BS
Product: Fixed rate mortgage
Description: Fixed for ten years
Rate: 4.59%
Max LTV: 95%
Redemption penalty: Tapered from six months’ interest at SVR in the first three years to two months’ interest in the final year.
Procuration fee: 0.25%
Arrangement fee: £399 to £200K, over £200K £399 plus 0.25%
Other: Free MPPI for six months, no MIG to 90% LTV, 10% capital repayments allowed annually without penalty.
Contact: 0121 643 6741
Market Harborough BS
Product: Five-year fixed rate mortgage
Description: Fixed until 01/09/08
Rate: 3.95%
Max LTV: 75%
Redemption penalty: Six months’ interest at SVR during fixed rate period, one months interest or notice thereafter.
Procuration fee: £300 plus £75 if the LTV is less than 75% and loan is more than £75,000.
Arrangement fee: £495
Other: Valuation fee paid, three months’ free buildings and contents insurance plus refund of first three months ASU premiums, capital repayments of up to 10% allowed annually without penalty.
Contact: 01858 463 244
Woolwich
Product: Five-year fixed rate mortgage
Description: Fixed until 31/08/08
Rate: 3.99%
Max LTV: 95%, maximum 90% for remortgages
Redemption penalty: Six months’ interest at SVR until 30/06/08.
Procuration fee: On application
Arrangement fee: £295
Other: Flexible, daily interest, overpayments of up to 10% per annum allowed without penalty.
Contact: 0845 607 1111
Woolwich
Product: Ten-year fixed rate mortgage
Description: Fixed until 31/08/13
Rate: 4.69%
Max LTV: 95%, maximum 90% for remortgages
Redemption penalty: Six months’ interest at SVR until 30/06/13.
Procuration fee: On application
Arrangement fee: £295
Other: Flexible, daily interest, overpayments of up to 5% per annum allowed without penalty.
Contact: 0845 607 1111
Norwich and Peterborough BS
Product: Fixed rate Spanish mortgage
Description: Fixed for three years
Rate: 4.99%
Max LTV: 75%
Redemption penalty: 3% of the current balance in the first three years.
Procuration fee: 0.25%, minimum £125, maximum £1,000
Arrangement fee: £250
Other: Up to 20 years, advance and repayments in Sterling, no compulsory insurance.
Contact: 01733 372006
Norwich and Peterborough BS
Product: Fixed rate Spanish mortgage
Description: Fixed for two years
Rate: 3.99%
Max LTV: 75%
Redemption penalty: 5% of the current balance in years one to three, 4% in year four and 3% in year five.
Procuration fee: 0.25%, minimum £125, maximum £1,000
Arrangement fee: £250
Other: Up to 20 years, advance and repayments in Sterling, no compulsory insurance.
Contact: 01733 372006
The Mortgage Operation
Product: Prime self-cert fixed rate mortgage
Funded by: Platform
Description: Fixed to 01/09/05
Rate: 4.69%
Max LTV: 85%
Redemption penalty: 4% in the fixed rate period, one month’s interest or notice thereafter.
Procuration fee: 0.6%, minimum £275, maximum £2,750
Arrangement fee: £395
Other: MIG from 75% LTV at 6.95%, £1000 cash back, reverts to BBR+1.95%.
Contact: 0845 130 3888
The Mortgage Operation
Product: Prime self-cert flexible tracker mortgage
Funded by: Platform
Description: BBR+1.1% for two years
Rate: 4.85%
Max LTV: 85%
Redemption penalty: None
Procuration fee: 0.6%, minimum £275, maximum £2,750
Arrangement fee: £395
Other: MIG from 75% LTV at 6.95%, flexible features ‘ over/under payments, payment holidays.
Contact: 0845 130 3888
New euro and Libor tracker from Pink
Pink Home Loans has announced a mortgage, funded by Leeds & Holbeck Building Society that tracks the average of euro and US Libor rates for seven and a half years, with an initial fixed rate of 2.99% until 31/12/03.
The mortgage offers the opportunity to benefit from a rate that has been consistently lower than UK Libor since 1999. Its aim is to produce a less volatile loan rate over the long term than any single Libor rate. The loan is available up to 90% LTV and carries a redemption penalty of 5% to 31/12/08, 4% to 31/12/09 and 3% to 31/12/10. 5% capital repayments allowed each year without penalty.
David Copland, sales and marketing director at Pink Home Loans, comments: “The product is the first of its kind to be launched making it unique in the intermediary mortgage market. It is aimed at the financially astute client wishing to benefit from a tracker product linked to Libor rates in Europe and the US, which are currently lower than in the UK.”
The product carries an arrangement fee of £495 (or £495 + 0.35% of the amount over £500,000). The procuration fee is 0.3%, with a minimum of £150.
Contact: www.pink.uk.net