Pink Home Loans launches summer sale

Pink customers will benefit from reduced up-front costs across a range of competitive products such as The Pink Menu Mortgage, funded by GMAC-RFC.

The Pink Menu Mortgage is a menu style product with rates based on the GMAC-RFC LIBOR rate plus a loading, which is determined by the client’s circumstances.

The product rate is then discounted to 1 September 2005 by 1.75 per cent for a purchase and 1.5 per cent for a remortgage.

The generous broker commission of 1.5 per cent, with a minimum amount payable of £1000, makes this product an attractive option for both the intermediary and their client.

Mark Howell, marketing manager at Pink Home Loans, comments: “The Summer Sale has been devised to further enhance our packaged service offering to our customers.”

Product details

Funded by: Pink Home Loans funded by GMAC-RFC

Product: Residential: Discount to 01/09/05

Purchase rates based on:

LIBOR plus applicable loadings minus 1.75% discount to 01/09/05

Remortgage rates based on:

LIBOR plus applicable loadings minus 1.5% discount to 01/09/05

GMAC-RFC LIBOR currently 4.81%

Max LTV: 95% LTV up to £200,000 – purchase only

90% LTV up to £200,000

85% LTV up to £500,000

Early repayment charges: 6% amount repaid in year 1, 5% in year 2, 4% in year 3 then 1 months interest or notice in lieu

Broker commission: 1.5% (minimum £1000)

Arrangement fee: £395

Other: Packaged submission only & £100 off standard valuation fee