Funded by GMAC-RFC, Pink Choices is a range of fixed and discounted buy to let products available to both Pink Premier and Mortgage Club members.
With up to 85% loan to value and an unlimited number of properties available to £2 million per borrower in total, clients can remortgage an existing property and raise capital to increase their portfolio.
There is no redemption penalty overhang on the range, so clients can choose to remortgage as soon as the fixed or discounted rates are over.
Nic Ekin, product manager at Pink Home Loans, comments: “With £150 off the application/ valuation fee on loans over £150,000, the Pink Choices range of fixed and discounted buy-to-let products will prove to be a popular choice for buy-to-let investors.”
“In addition to this, a dedicated in-house team deals with the administration of the Pink Choices range, right through to offer and case completion, to ensure high levels of service are delivered to customers.”
Key selling features
- £150 off the application/ valuation fee for loans over £150,000
- Maximum LTV up to 85%
- Minimum Loan 25,001
- Unlimited number of properties up to £2 million
- No redemption overhang
- Proof of income not required
- Bank statements are not required
Product details
- Funded by: Pink Home Loans funded by GMAC-RFC
- Product: Pink Choices – buy-to-let range with fixed and discounted products)
- Rates:
Fixed rates:
- 5.59% fixed to 01/07/06 up to 75% LTV
- 5.99% fixed to 01/07/06 up to 85% LTV
Discounted rates
- 5.24% - 1% discount to 01/07/06 up to 75% LTV
- 5.64%- 0.60% discount to 01/07/06 up to 85% LTV
- Max LTV: 85% up to £300,000
- Early repayment charges: 3% of the amount repaid until 01/07/06
- Rental yield: Gross rental income must exceed 130% monthly mortgage interest payment calculated at SVR
- Broker commission: 0.50%
- Arrangement fee: £395
- Other: Branded lending product- available to Pink Premier and Mortgage club members
- Contact: For more information visit www.pink.uk.net
