Weekly Product News w/c 20th Nov 2009 PDF Print E-mail
Intermediary Products


Abbey for Intermediaries:
  • New all channel 85% 2 year tracker homebuyer and remortgage products launched
  • Rates reduced on Flexi homebuyer and remortgage products
  • New all channel 80% 2 year fixed remortgage product launched
  • Rates reduced on 80% 2 year fixed all channel homebuyer and AFI homebuyer plus products


Beacon Homeloans:
  • All products have been withdrawn


BM Solutions:
  • 5.99% fixed until 31/01/17 75% LTV withdrawn


Launched:
  • 5 year fixed end dates have been extended to 31st January
  • BTL 2 & 3 year fixed rates have been extended to 1st April & rates have been reduced by 0.20%


House to House:
  • A new 5.69% 2 year fixed rate product with a max loan amount £1million launched
  • 2 new trackers added: a 1 year tracker with no ERC’S & 2 year tracker with ERC. Both have a max loan amount of £1million.


Buckinghamshire BS:
  • 3 Year Discount of 0.50% off SVR has been withdrawn


Cheltenham & Gloucester:
  • A revised range of products has been launched for Lloyds TSB Scotland:
  • A revised range of 2 year fixed rate products launched
  • New 2 year tracker products launched
Please note: Cheltenham and Gloucester have recently updated their products to include the product codes. As a result the products have been renamed Rep (Repayment) and IntO (Interest Only).

Earl Shilton BS:
With effect from 16th November Mortgage Product 120 – 1.40% discount for 2 years has changed to product number 126 and now has an Early Repayment Charge of 2% of the advance for 2 years. The Lender will no longer be contributing to legal fees on Re-mortgage or Purchase. All other conditions remain the same.

Halifax:
  • Reduced rates on selected 2 year tracker products for Homemover/FTB ranges & Remortgage products
  • Intermediary specials 2 year fixed rates HMW & FTB added refund of valuation up to £550 plus £250 cashback


Lloyds TSB Scotland Spearhead:
    • A revised range of 2 year fixed rate products launched
    • New 2 year tracker products launched


    Newbury Building Society:
  • Free Valuation incentive removed from BTL products
  • 3 Year Variable off SVR Max 90% LTV – Rate increased to 5.95% (was 5.45%)
  • 3 Year Discount off SVR Max 80% LTV – Rate increased to 3.95% (was 3.70%)


    • Nottingham BS:
  • Product FXR673 now available to all brokers and not just Premier Club Members
  • Product TRK091 released for Premier Club Members only


    • RBS IP:
  • Selected 5 Year Fixed rates increased by up to 0.40%
  • Intermediary Exclusive residential 3 and 4 Year Fixed rates withdrawn


    • Northern Rock:
    • End dates moved to January and rates decreased by as much as 0.30% on selected products. Semi-exclusives benefit from the same changes
    • RBS Retail Residential trackers LTV’s increased from 75 to 80%.


    The Mortgage Works:
    The Mortgage Works have launched a new Light Refurbishment range for Buy to Let. Light Refurbishment - classified as a Buy to Let rental property which will benefit from minor improvements to be carried out within 3 months of completion and prior to letting

    Initially up to 70% of the current value will be advanced. Once works are completed 70% of the after works value to a maximum of £25k can be released subject to successful re-inspection

    Rates are approx 0.10% - 0.30% higher than equivalent standard products

    Direct Products


    Abbey:
    • Max LTV increased from 75% to 80% on direct homebuyer and remortgage 3 year fixed products
    • 70% 2 year fixed homebuyer and remortgage rates reduced


    Chelsea:
    • Rates extended to December and reduced ERCs on 5 year products from 5 to 4%


    Leeds BS:
    • Five Year Fixed rates withdrawn – 5.25% / 5.75% / 5.49% / 5.99%
    • New Five Year fixed rates launched 5.23% / 5.99% / Fee Assisted products 5.73% and 6.49%


    Loughborough BS:
    • 2.99% 2 year discounted mortgage product has been withdrawn


    Saffron BS:
    • New 5.89% Fixed until 30/11/2012 90% LTV (Purchase Only) launched


    Skipton Building Society:
    • End dates have been extended on all fixed rates


    Yorkshire BS:
    • Product fees reduced from £995 to £495
    • Maximum loan size of £250,000 removed
    • Interest rates reduced by up to 0.30%
    • New 3 year reverse stepped Bank of England Base Rate tracker launched