The products include the following features:
Self-certification
Two-year tracker rate, offering a choice of:
- 5.44% with a 2% completion fee (up to 85% loan-to-value (LTV))
- 5.74% with a 1.25% completion fee (up to 85% LTV)
- 6.04% with a 1.5% completion fee (up to 90% LTV)
At the end of the two-year period, the charging rate reverts to Bank Base Rate + 1.99%
Buy-to-let
Available up to 85% LTV on a rental and earned income basis, with a two-year fixed rate of just 5.99% (reverting to BBR + 1.99%after 2 years). The completion fee is 2.5%.
Both of the above products have early repayment charges of 6% of the outstanding mortgage balance in the first 2 years.
Mel Dring, director of marketing at Wave, said: “Our 5.99% 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 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.”
