The self-cert products are all two-year trackers, with varying rates depending on completion fees, while the buy-to-let product is a two-year fix at 5.99 per cent, with a 2.5 per cent completion fee.
register for the next forum
Mel Dring, director of marketing at Wave, said: “Our 5.99 per cent buy-to-let deal is currently offering the most competitive pay rate in its class, as well as the benefit of taking earned income as well as rental income into consideration. The self-cert product not only has highly competitive rates, but also a choice of rate based on loan-to-value (LTV) and completion fee. These products will only be available for a limited period and I have no doubt they will be popular with both brokers and borrowers.”
find the latest industry jobs
The self-cert trackers, available up to 85 per cent LTV, are priced at 5.44 per cent and 5.74 per cent, with respective completion fees of 2 per cent and 1.25 per cent. There is also a product priced at 6.04 per cent with a 1.5 per cent completion fee available up to 90 per cent.
The BTL deal is calculated on a rental and earned income basis and reverts to Base Rate plus 1.99 per cent after the two-year period.
get the daily news delivered to your inbox
Graham Swann, of Mortgage Innovations, commented: “When it comes to high arrangement fees, a year ago I wouldn’t have considered anything above a 1 per cent fee. Now the high fees are working out with only a couple of hundred quid difference at the end of the 24 months so if it keeps more money in the client’s pocket during the term, then we look at them.”
