The products are discounted by 2.04% for 2 years, giving an initial pay rate of 3.75%, and are available up to 95% loan to value.
David Copland, sales and marketing director comments: “The first product is designed for borrowers who require a higher loan to value as the MIG is paid by Bristol & West Mortgages and not by the applicant. The second product has a lower arrangement fee of £199 and aimed at those requiring less than 75% loan to value.”
“Pink Home Loans has a 36-strong lender panel and offers a competitive range of products covering niche areas of the market including mainstream, sub-prime, buy to let and self-cert mortgages.”
Dominic Toller, head of marketing for Bristol & West Mortgages says: “Pink is a valued introducer for Bristol & West Mortgages. We are pleased to be working together with Pink to provide these highly competitive mortgages for the brokers who deal through them.”
Key product details:
Rate: 3.75% - 2.04% discount
Underlying rate is SVR, currently 5.79%
Term: Discount for 2 years
Minimum loan: £15,001 for purchases, £25,001 for remortgages
Maximum loan: £999,999 up to 75% LTV
Maximum loan to value: 95% up to £150,000
Income multiples: 3.5 times principal plus second, 2.75 times joint
Arrangement fee:
1) £399
2) £199
Redemption fee: 5% of amount redeemed for 2 years
Conditions: Available via direct and packaged submission routes
Other:
1) MIG paid by Bristol & West Mortgages
2) MIG triggered at 85% LTV
Introducer’s fee: 0.3% (min £150)
