As part of the offer, appointed representative and directly authorised member clients of Personal Touch will be able to waive the £75 application fee on the Northern Rock BTL products. The offer is available until 11 February.
Commenting on the launch, Dev Malle, director of mortgage distribution at Personal Touch Financial Services, said: “We are delighted to offer this exclusive deal with Northern Rock. It is even more appealing when offered alongside the other benefits available to the client. These include rental calculations based on 100 per cent of Bank Base Rate plus 1 per cent, borrowing of up to 87 per cent loan-to-value on up to 10 properties and up to £3 million in total. There is also fully flexible lending available, offering unlimited penalty free overpayments down to £1 of the mortgage balance, underpayments, borrow back at product rate, and the option to take payment holidays even if your client has not overpaid, as well as the opportunity to add fees to the mortgage. Until further notice, all online BTL applications that continue through to completion will receive a special online bonus procuration fee of £150.”
Tom O’Neil, CEO at Fuel Investments, commented: “We are already big supporters of Northern Rock because of its rates and criteria-based products. This exclusive through Personal Touch makes the deal even more enticing, especially for clients with multiple properties which will result in substantial savings on client fees.”
