Pink launched its sub-prime campaign at the beginning of the year with the aim of adding value in the adverse market. It kicked off the campaign with a £99 valuation fee and in February Pink turned this on its head with a maximum fee of just £66, with a number of lenders offering a free valuation.
The campaign has been a huge success and has seen Pink’s adverse applications double since the start of the year.
Tony Jones, managing director at Pink Home Loans commented: “Pink is pleased to be in a position to offer the end customer a reduction in the valuation fee. As well as helping the customer, we are also assisting the intermediary to attract new business with the aid of this promotion. The increase in business volumes proves that it has been a big hit with both intermediaries and customers alike and we are pleased to be able to extend the offer.”
Richard Wilder, managing director of The Mortgage Market Place commented: “The £66 valuation/application fee has been warmly received by our clients. It has often been one of the influencing factors in the decision making process when choosing a mortgage product. This promotion, along with 24 hour payment of broker commission, makes Pink Home Loans our first choice.”
The maximum £66 valuation and application fee offer is available on all product ranges with Pink’s adverse packaged lender partners; Amber Homeloans, First National, Freedom Lending, GMAC RFC, Mortgages plc, Platform, Preferred Mortgages and Salt.
Summary
-Free valuation available on all Mortgages Plc and Platform products
-For all applications, purchase and remortgage on all packaged adverse products including right to buy and buy to let.
-A fee of £66 is payable on all applications which covers our standard £90 administration fee, buy to let rental assessment, where applicable, and any standard valuation fee.
-Reduced valuation fee applies to standard mortgage valuation reports.
-The reduced valuation only applies to the first valuation and not to any subsequent valuations that may be required.
No transcription of the valuation will be allowed without the express permission of Pink Home Loans.
