Flexible self-cert tracker product from Pink Home Loans

The product rate is based on Bank base rate plus 1.50 per cent for the term of the loan with an early repayment charge for the first two years, which is calculated on a stepped reducing percentage basis.

The product is available for remortgage and purchase loans, including first time buyers, and offers flexible features such as overpayments, underpayments and payment holidays.

Nic Ekin, Pink Home Loans product manager comments: “This product would be particularly suitable for the self-employed borrower who works in a seasonal profession and is looking for greater control over their mortgage finances.”

“No higher lending charge is applied to the loan, reducing the up-front costs and this, in addition to the transparency of the product rate, constitutes an attractive proposition for the self-cert customer.”

Product details

- Funded by: BM Solutions

- Product: Flexible self-cert tracker

- Underlying rate: BBR plus 1.50%

- Max LTV: 85% LTV up to £350,000

80% LTV up to £500,000

75% LTV up to £1,000,000

- Minimum loan: £25,001

- Maximum loan: £1,000,000

- Early repayment charge: 5% of the amount repaid in year 1, 4% in year 2 (payable only if the mortgage is repaid in full)

- Broker commission: 0.5% (min £200, max £5,000)

- Arrangement fee: 1% of the loan amount