The self-cert product offers a fixed rate of 4.95% fixed until 01/03/2008 up to 85% loan to value, with 0.25% cashback and no Early Repayment Charge overhang or Higher Lending Charge.
Nic Ekin, lender relationship manager at Pink, said; “This exclusive self-cert rate of 4.95% fixed until 01/03/2008 is fantastic and has a 0.25% cashback, which will benefit clients who are either purchasing or remortgaging a property”.
Ian Harris, director at Harris Begley Ltd, comments; “This market leading deal will be ideal for customers who require an attractive rate but want the added benefit of a cashback. I have always found the application process to be smooth when dealing with Pink. There is a Platform underwriter based at their offices and this gives me peace of mind, as I always want my clients to receive the best service available”.
Paul Hunt, head of marketing at Platform, said; “We are delighted to offer such an attractive product via Pink giving borrowers not only a sub 5% rate but also a 0.25% cashback as well. Our experience shows that intermediaries prefer two year fixed rates more than anything else in the self-certification market at present and so we expect demand for this new product via Pink to be high.”
Summary
- Underlying pay rate: BBR + 1.75%
- Net broker commission 0.60% min £250, max £5,000
- Arrangement fee 0.75% of the loan
- Available to PAYE & Self-Employed up to 85% LTV
- Maximum loan to value – Up to 75% LTV - £1 million (£500,000 for paye) – Up to 85% LTV - £500,000
- Income multiples 3.5 single, 3.5 + 1 joint or 3 x joint
- Packaged submission only
Other
- Early Repayment Charges – 6% of the amount repaid until 01/03/2008
- Higher Lending Charge – N/A
