The products in association with The Mortgage Business (TMB) also offer a free standard valuation until 31 October 2009 and the firm is able to waiver the £90 administration fee.
One product is offered at a fixed rate of 5.69%, higher lending charge of 7.5%, payable for the portion of the loan size over 75% (minimum fee £350). The other product is offered at 5.84%, higher lending charge is not applicable.
Both products are available up to 85% Loan to Value (LTV) to £500,000 for clients looking to self-certify their income and 85% LTV up to £300,000 for first-time buyers. There is an arrangement fee of 1.50%.
David Copland, deputy managing director of Pink Home Loans, said: “With interest rates having increased five times in the last year, fixed rates are proving to be a popular choice, particularly for clients who may not have a regular monthly income. The fact that these are fees assisted rates are beneficial for first time buyers not wanting to incur all of the costs involved in getting onto the property ladder”.
Brian McDermott, national account manager from The Mortgage Business, added: “We’ve worked very closely with Pink Home Loans to truly understand and offer the types of products that will support their brokers. It’s a central theme for TMB and the foundation of our entire proposition to support our key business partners with product and service excellence. We’re delighted to offer these semi-exclusive self cert fixed rates via Pink Home Loans.”
