| PNG Rate Change: Kensington released on: 04-08-2008 05:17 PM |
Kensington\'s Prime Buy to Let Exclusive product tranche for August is
now open.
Features of the Prime Buy to Let Exclusive include:
· 3 year fixed at 6.99%
· Up to 85% LTV
· Loans
up to £350,000 or £300,000 for First Time Buyers
· Rental
income 110% of pay rate
· Flexible Features as standard:
Overpay, Underpay, Payment Holiday, Borrow Back
To view the Prime
Buy to Let Exclusive product guide, click here.
All applications
need the required funds to be booked in the usual way. Funds will only
be allocated once the correct process has been followed. To find out
more about our funds booking process visit www.kmc.co.uk
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| PNG Rate Change: Abbey released on: 25-06-2008 05:05 PM |
Abbey Mortgage changes as of 27th June 2008
We are improving the
competitiveness of our Flexible Plus range by reducing the booking
fees by £1,000 - the total fee is now £1,499, which includes £150
payable upfront.
We are also increasing our 5 year 85% LTV fixed
rate by 0.07% to 6.74%.
Remember for all of our mortgages the
first £150 of the booking fee is payable upfront and the maximum LTV
on Flexible Plus is 75%.
The CURRENT products will be withdrawn at
10pm on Thursday 26th June. FULL applications must be submitted by
this time in order to secure a booking on the product.
For full
details of our NEW range, see the Intermediary Rate Bulletin (Issue
19), which will be available on Friday 27th June 2008.
|
| PNG Rate Change: Bristol & West released on: 24-06-2008 10:01 AM |
Product Withdrawals
Please note that with immediate effect we
will be withdrawing our current range of products. All applications
for these products must be received by 5pm today, Tuesday 24th June
2008.
Please note from Tuesday 1st July 2008 we will no longer be
accepting paper applications. All applications are to be made online
via your Virtual Office. If you are experiencing problems accessing
your Virtual Office please call Sales Support on 0117 943 2008. |
| PNG Rate Change: FNHF released on: 23-06-2008 11:34 AM |
Additional Criteria Changes
Child and Working Family Tax Credits
Effective Tuesday 24th June 2008 we will require applicants that
are using Child or Working Family Tax Credits within their income
calculation to confirm that they will be in receipt of this benefit to
the best of their knowledge for at least 3 years from date of
application. We will accept confirmation by receiving a copy of the
reward letter showing the amount they will receive.
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| PNG Rate Change: Rate update released on: 20-06-2008 04:00 PM |
HBOS, the UK\'s biggest mortgage lender, is re-pricing the mortgage
rates across a slew of its tracker and fixed rate products in response
to the cost of borrowing from wholesale markets.
The changes –
expected from most lenders – come as soaring swap rates are pushing
the cost of fixed-rate mortgages through the roof; figures from the
Bank of England suggest the average cost of fixed-rate mortgages are
at an eight-year high, averaging 6.92%.
Earlier this month both
Cheltenham & Gloucester and the Nationwide Building Society announced
they were raising interest rates on its fixed-rate mortgages by up to
0.3%.
|
| PNG Rate Change: TMB released on: 20-06-2008 10:26 AM |
Product Refresh
TMB will be launching a selection of products on
Saturday 21 June 2008. To prepare for this launch, the products listed
below will be removed at midnight on Friday 20 June 2008.
7.24%
Fixed until 30/09/2011 TFP426
7.14% Fixed until 30/09/2011 TFP427
7.19% Fixed until 30/09/2013 TFP417
6.99% Fixed until
30/09/2013 TFP425
6.99% Fixed until 30/09/2011 TFP428
6.99%
Fixed until 30/09/2011 TFP435
7.39% Fixed until 30/09/2010 TFP436
Important Information
To take advantage of these rates please
forward a FULL APPLICATION by close of business on 20 June 2008.
Please ensure you submit a full application, which must include
property details, ensuring you have confirmed that a KFI has been
given to the applicant(s).
|
| Base Rate held released on: 18-06-2008 01:09 PM |
MPC voted 8-1 to freeze rates
The Bank of England’s Monetary Policy
Committee (MPC) voted by a margin of 8-1 to hold Bank base rate at 5%
in June, the latest minutes have revealed.
Once again, the sole
rebel was David Blanchflower, who advocated a cut of 25 basis points.
According to the minutes, Blanchflower noted that “although a
recession in the United Kingdom was not the central expectation, there
was a small but growing risk of a very negative outcome that would
cause inflation to undershoot the target in the medium term.”
However, for the majority of members, it was agreed that a “greater
degree of slack” would be necessary to ensure inflation remained to
the target. The minutes note: “As a result, there was no case for a
reduction in Bank rate this month, although that position could change
as information about the path of activity and inflation accumulated in
the coming months.”
|
| PNG Rate Change: Fixes at 10-year high released on: 17-06-2008 10:08 AM |
The average two year fixed rate currently stands at 6.75% - the
highest rate we have seen in the last 10 years, according to
Moneyfacts.
Customers looking to fix their mortgage for five
years are also paying the price as the average rate has increased to
6.72%.
Darren Cook, mortgage expert at Moneyfacts.co.uk, comments:
“The curse of Friday 13th bought more pain for borrowers as swap rates
reached a new high of 6.49%. With lenders having to pay such a huge
price to secure funds and a lag time of a few weeks before this cost
is passed on to mortgage customers, the situation is likely to get
worse before it gets better.
“Many borrowers prefer fixed rate
deals, particularly in today’s economic climate as they struggle to
keep outgoings under control. However, many are likely to find this
increased cost too much to bear. With the average two year variable
rate standing at 6.66%, many are finding they have little choice.
“If the current economic climate persists, it is not unreasonable
to predict that we may see a situation where a higher proportion of
borrowers are on their lender’s SVR, rather than on an actual mortgage
deal.”
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| PNG Rate Change: Abbey released on: 17-06-2008 10:06 AM |
Mortgage changes as of 18th June 2008
We are improving the
competitiveness of our 75% LTV tracker range by reducing rates on
selected products by between 0.10% and 0.15%. For full details of the
changes see the rate bulletin on
abbeyforintermediaries.com.
Remember for all of our mortgages the
first £150 of the booking fee is now payable upfront. This is part of
the total booking fee and is not a new fee. Also the maximum LTV on
Flexible Plus is now 75%.
The CURRENT tracker products will be
withdrawn at 10pm on Tuesday 17th June. FULL applications must be
submitted by this time in order to secure a booking on the product.
|
| Bristol & West released on: 17-06-2008 10:03 AM |
The Core Range dated 06/06/2008 is being withdrawn today at 5pm -
Tuesday 17th June.
For unpackaged business all applications for the
withdrawn products should be received by 5pm on Tuesday 17th June.
Faxed copies are not acceptable.
We will be launching a new Core
Range with effect from 5pm today.
For further details please access
the Virtual Office on our website www.bristolandwest4brokers.co.uk
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