Capital Home Loans is hoping to tempt brokers with an above average procuration fee to go with its double product launch; one full-status and one self-certification home loan.
On full-status it now has a MIG-free product that gives applicants 95% loan to value. The interest rate is 0.99% above Bank Base Rate, discounted to 0.49% above Bank Base Rate for the first six months from completion. The Fleet, a Hampshire based lender, is providing intermediaries with a 0.5% unlimited procuration fee for this product.
On self-certification, CHL has introduced a 5.99% fixed interest product for two years with no redemption penalty after the fixed rate period. It is available to 90% loan to value (85% for first time buyers). An unlimited procuration fee of 0.85% will be paid.
Trevor Child, CHL marketing manager, said: “We think these products represent a double whammy. They are among the best deals currently available, and we have introduced very generous procuration fees.”
