PInk Home Loans launches self-cert fixed rate

There are 3 fixed rates available, subject to the loan to value. All 3 products are fixed until 1st November 2006, starting from 5.89 per cent for loans up to 75 per cent loan to value. Available for both purchase and remortgage, the payment rate will revert to SVR at the end of the fixed period.

An early repayment charge of 3 per cent is applied to any amount repaid during the fixed period but, thereafter, no penalty is applied.

Nic Ekin, product manager at Pink Home Loans, comments: “GMAC-RFC self-cert products are always popular and this range is no exception. With a competitive rate, reduced up-front costs and taking into account the rising bank base rate, these fixed rates offer an attractive option for the self-cert customer. ”

Product example

Funded by: Pink Home Loans funded by GMAC-RFC

Product: Self-cert: Rates from 5.89%

Fixed to 01/11/06

Underlying rate: SVR

SVR currently 6.74%

Max LTV: 75% LTV up to £500,000

85% LTV up to £350,000

90% LTV up to £250,000

ß Minimum loan: £25,001

Early repayment charge: 3% of the amount repaid to 01/11/06

Broker commission: 0.50%

Arrangement fee: £495

Other: Branded lending - packaged submission only & £100 off standard valuation fee