This competitively priced fixed rate of 5.49% offers true self-certification for both employed and self-employed applicants.
A maximum of £7,500 of registered CCJ’s are allowed in the last three years and up to 3 months arrears in the last 12 months, although there must be no adverse registered within the last 3 months.
David Copland, sales and marketing director at Pink Home Loans comments: “Self-cert and sub-prime are key niche enquiry areas for the Pink mortgage desk. The 5.49% fixed rate combines the needs of both these niche areas, coupled with no redemption overhang and the added backing of a highly rated specialist lender.”
“Our latest intermediary industry research survey has revealed that self-certification continues to be one of the strongest areas of growth for brokers. This competitive self-cert sub-prime product will provide brokers with even more opportunities to take advantage of this growing market,” said Matt Grayson, public relations manager, BM Solutions.
Key product details:
Rate: 5.49% - fixed until 01/09/2005
Underlying rate: Bank base rate plus 2.25%
Minimum loan: £25,001
Maximum loan/loan to value: 80% LTV up to £500,000
85% LTV up to £350,000
Income multiples: 3.5 times principal plus second, 3 times joint
Arrangement fee: £399
Redemption fee: 5% of amount repaid to 01/09/2004, 4% to 01/09/2005
Conditions: Available via direct and packaged submission routes
Other: Daily interest
Introducer’s fee: 0.75% (min £250, max £5,000)
Contact: Visit Pink online at www.pink.uk.net for more information
Pink Home Loans, based in Lichfield, Staffordshire, is one of the UK’s leading mortgage distribution and packaging companies and is part of the Skipton group of companies.
Pink Home Loans has two lending panels offering its members a choice of direct lender access or packaging facilities in addition to a range of insurance products.
Industry leading services include a first class mortgage desk, easy to use website with comprehensive case tracking facilities and broker commission paid via BACS within 24-hours of legal completion.
