We’re ready for MMR!
We’re ready for MMR on 24 April.
The changes we’ve made to our submission procedures are minimal and the key differences include:
- A new affordability calculator – which is available from Tuesday 15 April.
- A new single mortgage application form – which can be used for all mortgage application types.
In all other respects, the process of submitting a DIP and client application will remain the same.
We will switch over to our new MMR compliant procedures with effect from 24 April. Watch this space for further updates.
Buy-to-let 5 year fixed rates
Two new fixed rate options on our buy-to-let mortgages
- 4.87% 5-year fixed rate to 31/08/19 on standard buy-to-let mortgages
- 5.07% 5-year fixed rate to 31/08/19 on buy-to-let light refurbishment mortgages
- Both deals available up to 80% LTV
- Arrangement fee of £995 for loans up to £500K and £1,995 for loans up to £1 million. Loans above £1 million available by referral
- Early repayment charge of 3% during the fixed rate period (overpayments of up to 10% per annum are allowed without penalty)
Capital repayment incentive
- Our variable and discounted self-employed, professional and contractor mortgages all include an innovative capital repayment incentive *
- When borrowers repay capital they will benefit from lower interest rates, if their mortgage steps-down into a lower LTV band
- This means your clients can apply for a higher LTV mortgage and benefit from lower rates and monthly repayments as soon as they make capital repayments
- No need to incur remortgaging cost in order to move to a lower rate
- There are no fees or charges for this facility. Click here to find out more
* Not applicable on fixed rates