Weekly Product News w/c 27th Nov 2009 PDF Print E-mail
Intermediary Products
Abbey:
Variable Rate Trackers
  • Rates reduced on all channel 75% 2 year tracker homebuyer and remortgage products
  • 75% intermediary 2 year tracker Homebuyer Plus product withdrawn and replaced with 70% LTV version


Accord:
  • SVR increased by 0.65% to 5.99%


Cheshire Mortgage Corp:
  • Self Employed income criteria changed
Temporarily Suspended Plans:

The 6 and 8 demerit plans
  • Customers with IVAs, Bankruptcies or in a Debt Management Program
Right to Buys
  • The 50% LTV with 3 demerits Shared Ownership plan
  • Single applicants who are self-employed
  • Family Occupied Buy to Lets and Semi-commercial


Chorley & Direct Building Society:
  • 3.50% Term Tracker 75% LTV has been withdrawn


Furness BS:
  • 2 & 3 year trackers at 60% and +80% launched
  • 60% LTV products are Fee Free


Kensington:
  • New Prime Kensington Exclusive product 2 Year Fixed 5.69% up to 65% exclusive to L&G AR / Pink AR


Melton Mowbray BS:
    • 3.79% 2 year fixed rate end date extended from 31/10/2011 to 31/12/2011


    Newbury BS:
    Criteria changes
    • Residential: Only available in the following postcodes: RG, OX, HP, SN, SL, SP, SO, GU. Existing members can still be located in England and Wales.
    • BTL & Affordable housing: Only available in the following postcodes: RG, OX, HP, SN, SL, SP, SO, GU - no wider area allowed for Existing members.


    Northern Rock:
    • Selected 2 Year Fixed rates by up to increased by 0.20%
    • Selected 2 Year Trackers increased by 0.20%
    • Key Account Intermediary Exclusive 2 Year Fixed rates withdrawn
      • End dates extended to March


    Direct Products


    Cheltenham and Gloucester:
    BTL:
    • 3 year fixed rates increased by 0.30%
    • NEW 2 x 2 year fixed rate products introduced (60% and 75% LTV)
    • 3 year tracker products increased by 0.30%

    Remortgage:
    • 3 year Tracker products withdrawn (60% & 75% LTV)
    • 2 year Tracker products introduced (85% LTV)

    Purchase:
    • 5 year fixed rates at 85% LTV have been reduced by 0.20%
    • 3 year Tracker products withdrawn (60% & 75% LTV)


    HSBC:
    • End dates moved forward by one month
    • Rates increased by 0.20% on average


    Lloyds TSB Scotland:
    Purchase:
    • 3 x 5 year fixed rates reduced by 0.20%
    • 4 x 3 year tracker products withdrawn (60% and 75% LTV)
    • NEW 2 x 2 year trackers products introduced (85% LTV)

    Remortgage:
    • 1 x 5 year fixed rates reduced by 0.20%
    • 4 x 3 year tracker products withdrawn (60% and 75% LTV)
    • NEW 2 x 2 year trackers products introduced (85% LTV)

    BTL:
    • 3 year fixed rates increased by 0.30%
    • NEW 2 x 2 year fixed rate products introduced (60% and 75% LTV)
    • 3 year tracker products increased by 0.30%
    • The completion end dates on all of the fixed rate products extended to 30/04/2010


    Mansfield BS:
    • New 2 and 3 year discount rates launched at 75% and 80% LTVs - 1.75% and 1.25% discount respectively


    RBS/Natwest:
    • New 3 year fixed shared equity product
    • Criteria change for shared equity: now only available on a Capital & Interest basis, 5% minimum required
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