The product, in association with UCB Home Loans, is available from 1 September and the rate is 4.79% for one year.
This self-cert product offers clients peace of mind with their monthly mortgage payments but also flexibility with an overpayment facility.
David Copland, marketing director at Pink commented: “This is excellent news for individuals who want the certainty of a one year fixed rate product. There are very few self-cert fixed products offering an attractive rate of 4.79 per cent with no overhang and also the opportunity to make monthly overpayments without incurring any early repayment charges.”
Andrew Morgan, director at Storm Mortgages Ltd said: “This self cert one year fixed rate is good news, as it allows people who have been in business for over 12 months but as yet have no finalised accounts to either purchase or remortgage on to an attractive rate.”
Product Self Certification fixed for 1 year
Initial pay rate: 4.79 per cent
Underlying rate: Flexible Variable Rate: 6.79 per cent
Early repayment charges: No ERC will apply to overpayments up to £500 per month. However, if the mortgage is fully or partially repaid or changed to a different type of UCBHL mortgage within one year the following charges will apply six months interest (min £10).
Net broker commission 0.45 per cent minimum £150
Arrangement fee £330 can be added to the loan
Booking fee £75, must be paid upfront and is non-refundable
Maximum loan to value 85 per cent up to £500,000
75 per cent up to £750,000
65 per cent up to £1,000,000
Adverse credit Applicants with a poor credit profile are not acceptable
Minimum Loan £25,001
Other
*No Higher Lending Charge
*Overpayment facility up to £500 per month
*Product is portable
*No overhang
*Direct submission only
