Weekly Product News w/c 1st Mar 2010 PDF Print E-mail
Friday, 05 March 2010 00:00
Intermediary Products


Abbey:
  • New 70% Homebuyer 2 year trackers with £495 & £1495 fees
  • New 80% Homebuer/Remortgage products
  • Rates reduced by 0.04 to 4.95% on 2 year 80% Homebuyer and Homebuyer Plus rates



Alliance & Leicester:
  • 80% 2 year tracker rate reduced by 0.45 to 3.94% and arrangement fee increased by £500 to £1495 on Remortgage version.



Buckinghamshire Building Society:
  • The Buckinghamshire BS has launched new 2 and 3 year fixed rate products
  • The Buckinghamshire BS has withdrawn its owner occupied and BTL mortgages until 30/11/2011



BM Solutions:
Criteria Change:
  • BM Solutions now requires 2 years accounts for their acquisition ranges



Mansfield:
  • Have reduced their 3 year fixed by 0.05%



Market Harborough Building Society:
Criteria Change:
  • The Market Harborough Building Society will no longer lend for Business Purposes



Nationwide:
  • From the 4th March 2010 Nationwide will be withdrawing House Purchase and First Time Buyer products with Free Legal Fees



Newbury Building Society:
Criteria Changes:
  • Shared Equity income multiples have been increased for incomes over £20k
  • Where the LTV exceeds 75%, the maximum term for a mortgage is reduced from 40 years to 30



Openwork:
  • A new exclusive 5.69% 2 year fixed rate at 65% LTV has been launched by Kensington Mortgages



Platform:
  • Buy to Let 2 year fixed and 3 year fixed rates reduced, Maximum LTV for Buy to let extended to 70% (purchase) and 65% (remortgage)



TBMC:
All of The Mortgage Works products have been withdrawn

The Mortgage Works:
Buy To Let Rate and Fee Reductions:
  • Up to 0.50% rate reduction on selected 1 year, 18 month and 3 year fixed products
  • Up to 0.45% rate reduction on selected 1 year tracker products
  • Up to 0.50% rate reduction on selected remortgage, Let to Buy and Light Refurbishment ranges
  • 2.99% 1 year fixed and tracker product fee reduced to 3.5% from 3.75%
Criteria Amendment for First Time Landlords:
  • LTV increased to 70% for first time landlords purchasing
  • Let to Buy range - First time landlords purchasing now accepted up to 70% LTV
  • In addition First Time Landlords can continue to select from the Buy to Let core range up to 65% LTV
Extended end dates:
  • Fixed rates end date extended by 2 months


Direct Products


Abbey:
  • 80% 2 year tracker rate reduced by 0.74 to 3.25% and arrangement fee increased by £500 to £1495 on Remortgage version



Loughborough Building Society:
  • The Society is today launching a new 3 year 3.95% fixed rate product with a maximum LTV of 75% and a completion fee of £575



Mansfield:
  • Have reduced their 3 year fixed by 0.05%



Teachers Building Society Direct:
  • Have increased their LTV’s on 3 and 5 year fixed rates. 60% to 75% and 80% to 85%