The product rate is BBR + 0.99% for the term of the loan and is available to self-employed applicants only. There are no early repayment Charges (ERCs) and has a maximum loan-to-value of 90 per cent. The product also has overpayment, underpayment and payment holiday features.
Tony Jones, managing director at Pink Home Loans commented: “Pink is dedicated to improving the range of products available and, after listening to feedback, we have developed this product in conjunction with Capital Home Loans. This product offers a number of exciting features such as no ERCs and capital raising for any legal purpose up to 90 per cent loan-to-value. Self-employed applicants are likely to find the flexible features particularly beneficial as it provides them with the option to either overpay, underpay or even take payment holidays.”
Jonathan Cornell, technical director at Hamptons, added: “This is a cracking rate and offers an excellent opportunity for self-cert clients who ultimately want to move onto a status product once they have an income history confirmed by their accounts. The fact that the product is also available up to 85 per cent for first-time buyers makes it even better.”
Summary
- Self-cert – BBR + 0.99 per cent (currently 5.49 per cent) for the term of the loan, self employed only
- No early repayment charges (ERCs)
- Arrangement fee – 0.5 per cent of the loan – can be added to the loan
- Maximum loan-to-value 90 per cent
- Maximum loan £500,000
- First-time buyers accepted up to 85 per cent loan-to-value, £250,000 maximum loan amount
- Capital raising for any legal purposes up to 90p per cent loan-to-value
- Flexible features – including overpayments, underpayment, payment holidays.
