• Victoria has made reductions in its two- and three-year fixed rate pricing across the range. Particular areas of note include the pricing at Prime, Near Prime and Low – across full status, self-cert and buy-to-let.
• It has also simplified its products by removing the 10 basis point loading for ‘AND’ products across the range.
• All products use Victoria’s affordability calculator which allows up to five times joint income, true self-cert income verification to 90% loan-to-value (LTV) and Victoria’s 24-hour service guarantee.
The pricing comes into effect on Thursday 1 March 2007.
Simon Read, business development director for Victoria, commented: “We have proven that our low-cost origination model, driven by our dedication to the packager sector, is the best in the market. Our service has always, and will always, be to the highest standard. We have a transparent charging structure; we charge a flat completion fee and have no Higher Lending Charge or exit fees. These rates are exceptional and we expect them to be of great interest to the intermediary and packager market.”
