A discount of 0.51 per cent applies for 3 years giving an initial pay rate of 5.99 per cent.
The product allows an unlimited number of properties up to a maximum portfolio limit with Mortgage Express of £2 million.
Brokers can also benefit from having their commission paid within 24 hours of legal completion and straight into their bank account if requested.
Product summary
- Initial pay rate of 5.99%
- 0.51% discount for 3 years
- Underlying rate is Bank base rate plus 1.75%
- Early repayment charges: 5% of amount repaid for first 3 years
- Net broker commission: 0.5%
- Arrangement fee: £750, added at completion
- Maximum loan to value (LTV): 85% up £300,000
- Maximum loan: £1 million up to 70% LTV
- Available for purchases and remortgages
- Unlimited number of properties up to £2 million portfolio limit with Mortgage Express
- Rental yield: gross rental income must cover 130% of the monthly mortgage interest payment
- Personal guarantees required from each director
- Designed for limited companies registered in England and Wales and for properties in England and Wales
- Flexible options available
- Available via packaged submission
- 24 hour payment of broker commission available
For full product details visit the Pink Home Loans website at www.pink.uk.net or call 08707 590136.
