Rates start from 5.09 per cent, with a standard variable rate (SVR) of 1.50 per cent discounted until 30 September 2009. The offer includes free valuations with no overhang and overpayments of up to 10 per cent of the mortgage balance each year can be made without incurring an early repayment charge (ERC).
Further features of the range include no higher lending charges (HLC) and an arrangement fee of £750.
David Copland, sales and marketing director at Pink Home Loans, commented: “There are a number of attractive features available with this product. A free valuation, competitive rates, a low arrangement fee, and the facility to make overpayments will be beneficial to a sector of customers.”
Mark Howell, head of marketing at Bristol & West, added: “We are delighted to be offering this competitive product with one of the leading mortgage distribution companies. This further demonstrates our commitment to the intermediary mortgage market.”
Lee Francis, partner at Francis Stone, welcomed the product range. “It will appeal to both purchase and remortgage applicants, as it offers a free valuation and no up-front fees. The overpayment feature will benefit those who have the capability to make additional payments.”
James Cotton, mortgage specialist at London & Country, said: “It sounds like a good deal and it’s got all the features you would expect from Pink Home Loans. It’s not the cheapest rate out there, as there are deals under 5 per cent, but the product will be sweetened by its features and the good service that Pink and Bristol & West provide. The self-certification market is busy at the moment and there are a lot of deals out there, but there’s also decent demand from people who don’t have a standard, traditional income.”
