The payment rate is 5.49 per cent (1.01 per cent discount for three years) and offers a free standard valuation along with free standard remortgage legal fees using the lender’s solicitor. The arrangement fee is £599 and can be added to the loan. The early repayment charge is 5 per cent in the first three years and the underlying rate is Bank Base Rate + 1.75 per cent. The product is available for remortgage purposes only and is obtained by direct submission to Mortgage Express.
David Copland, sales and marketing director at Pink Home Loans, commented: “The fact that there are no upfront costs with this product make it an excellent choice for those landlords who may want to remortgage, but have their capital tied up elsewhere.”
Adrian Scott, director of distribution at Mortgage Express, commented: “We have an excellent relationship with Pink, and this deal demonstrates our ongoing commitment to working with our business partners to provide them with the best possible products and service.”
