New self cert fixed rates run to 28 February 2010. At 75% LTV the rate is 5.79%; at 85% LTV, the rate is 5.89%; and at 90% LTV rate is 5.99%. Alternative rate options for remortgages that include free valuation and LMS legal costs are: at 75% LTV, 5.99%; at 85% LTV, 6.09%; and at 90% LTV, 6.25%. An early repayment charge of 3% of the sum repaid applies until 28 February 2010.
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The remaining two exclusive fixed rates are for Buy to Let to 85% LTV, and both are fixed to 30 September 2010. At 5.85%, a rental calculation of pay rate x 100% is available and at 5.95%, the free valuation and LMS legal costs offer applies. Early repayment charges on both options are 5% of the sum repaid within the fixed rate period.
Helen Hymos, PMPA’s lender relationship manager, commented: “Brokers will agree that, certainly at 90% self cert, these rates are excellent and the fees free deals are particularly good, as is the Buy to Let especially with only 10 basis points loading for the fees free option. By adjusting the end dates a little, this distinguishes these exclusives from B&W’s core range as well as enabling us to offer slightly lower rates. As exclusives only available via PMPA members, we expect demand to be high”.
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PMPA member packagers are: Mortgage Match Limited, Countrywide Mortgage Centre, Niche Mortgage Solutions, ATOM, BDS, Complete, Finance and Mortgage Solutions, The GHL Group, Knight Funding, Open Door Solutions, OPM, Premier Mortgage Centre, Premier Mortgage Packagers and Primrose Mortgage Processing.
