Weekly Product News w/c 11th May 2010 PDF Print E-mail
Friday, 14 May 2010 00:00
Intermediary Products
Abbey:
Variables
  • Max loan size increased to £1m on 70% 2 year tracker Homebuyer Plus, Homebuyer with £495 fee and Remortgage £995 fee products
  • Direct 70% 2 year tracker with £995 fee withdrawn and replaced with new All Channel version
  • Launched new All Channel 70% 2 year tracker Remo products with £495 and £1,495 fees
  • Intermediary 90% 2 year tracker Homebuyer product withdrawn and launched new Core version
Variables
  • Rates reduced on all Direct and Intermediary 70% 2 year fixed Homebuyer, Remo and Homebuyer Plus products
  • Launched new All Channel 75% 2 year fixed Core product
  • Launched new Intermediary 75% 2 year fixed Homebuyer and Remo products with £495 fee
  • Rates reduced on Intermediary and Direct 75% 2 year fixed Homebuyer and Remo products and Direct no fee
  • Withdrawn Intermediary and Direct 75% 3 year fixed Homebuyer and Remo products and launched new All channel versions



Accord:
Accord exclusives have been withdrawn for the following networks/packagers:
  • PTFS
  • CCHF
  • Openwork
  • Positive Solutions
  • Sesame AR’s
  • Tenet Lime
  • Tenet Connect
  • Tenet Connect Services
  • Mortgage Advice Bureau
  • L&G AR’s
Accord exclusives have been launched for the following networks/packagers:
  • Tenet Lime
  • Tenet Connect
  • Tenet Connect Services
  • Mortgage Advice Bureau
  • L&G AR’s
  • CCHF



Aldermore Bank (New Lender Launched on Prospector):
  • Aldermore Bank has released a range of products which are available through a panel of selected distribution partners 3mc, Pink Home Loans, BDS Mortgage Group, Legal & General, Mortgage Intelligence, Mortgage Next, PMS and Personal Touch



BM Solutions:
  • Self Build product increased by 50bps
  • House to House 1 year tracker replaced with 3 year tracker



C&G:
Acquisition
  • Rates increasing by 10 bps on 2 year fixed rates for Homemovers, First Time Buyers, Existing Customers and Remortgages
  • Fee free 3 year fixed rates removed for Homemovers, First Time Buyers, Existing Customers and Remortgages
  • 4 year fixed rates removed for Homemovers, First Time Buyers, Existing Customers and Remortgages
  • Rates reduced by 20 bps on selected 5 year fixed rates for Homemovers, First Time Buyers, Existing Customers and Remortgages
  • 2 year trackers replaced by 3 year trackers for Homemovers, First Time Buyers, Existing Customers and Remortgages
  • 3 year Stepped tracker replaced with 3 year tracker for Homemovers, First Time Buyers and Existing Customers
Buy to Let With effect from Friday, 14 May 2010, Leeds Building Society is launching the following products.
  • Buy to Let 2 Year Fixed Rate up to and including 31 August 2012
  • Tier 1 - Buy to Let 2 Year Fixed Rate up to and including 31 August 2012, 5.29% available up to 60% LTV
  • Tier 2 - Buy to Let 2 Year Fixed Rate up to and including 31 August 2012, 5.59% available from 61% LTV to 65% LTV
  • Tier 3 - Buy to Let 2 Year Fixed Rate up to and including 31 August 2012, 5.79% available from 66% LTV to 70% LTV
Buy to Let 3 Year Fixed Rate up to and including 31 August 2013.
  • Tier 1 - Buy to Let 3 Year Fixed Rate up to and including 31 August 2013, 5.49% available up to 60% LTV
  • Tier 2 - Buy to Let 3 Year Fixed Rate up to and including 31 August 2013, 5.79% available from 61% LTV to 65% LTV
  • Tier 3 - Buy to Let 3 Year Fixed Rate up to and including 31 August 2013, 5.99% available from 66% LTV to 70% LTV
  • Buy to Let 5 Year Fixed Rate up to and including 31 August 2015.
  • Tier 1 - Buy to Let 5 Year Fixed Rate up to and including 31 August 2015, 5.69% available up to 60% LTV
  • Tier 2 - Buy to Let 5 Year Fixed Rate up to and including 31 August 2015, 5.99% available from 61% LTV to 65% LTV
  • Tier 3 - Buy to Let 5 Year Fixed Rate up to and including 31 August 2015, 6.29% available from 66% LTV to 70% LTV



  • Coventry Building Society:
    • Product codes FXR32 / FXR33 / CPZ65 / TKZ34 / TKZ35 / OMX82 / GBT64 / GBT61 have been withdrawn
    • Product codes FXR35 / FXR36 / GBT66 / GBT67 have been launched



    Kensington:
    • LIBOR rate increased from 0.65% to 0.70%



    Legal & General:
    • Everyday20 3.49% 2 year Fixed Rate and Everyday 4.09% 3 Year Fixed Rate Northern Rock exclusive launched for Legal & General



    L&G Mortgage Club:
    • Accord exclusives are now available to L&G DA's



    Leeds Building Society:
    Leeds is introducing as of tomorrow the following two new products
    • Introduced Only Offset 2 Year Fixed Rate up to and including 31 August 2012
    • Introduced Only Offset Fees Assisted 2 Year Fixed Rate up to and including 31 August 2012



    Market Harborough Building Society:
    • Society has launched 2 new 85% Mortgage deals
    • With immediate effect the 3.25% Fixed rate has had it’s end date extended to 31 July 2012



    Manchester Building Society:
    • BTL6A – 2yr Fixed 5.49% 70%
    • FIX7B – 2yr Fixed 4.39% 60%
    • FIX8B – 2yr Fixed 4.24% 60%
    • FIX5B – 2yr Fixed 4.25% 80%
    • FIX6C – 2yr Fixed 4.50% 80%



    Mansfield Building Society:
    • The Mansfield Building Society have launched a 3 Year fixed rate at 5.99% up to 90% LTV (DIX145) and an Offset Tracker for term up to 75% (OFF001)
    • Product DID051 now offers a refund of the valuation fee on completion (up to £400)



    The Mortgage Works:
    • New 80% LTV buy to let products
    • 0.20% reduction on 2 year fixed 70% BTL rates



    Nationwide:
    • Will launch as of tomorrow a re-priced set of products with rate reductions by as much as 0.50% remortgages see an added LTV tier going up to 85%
    • Direct range will see their “remortgage in a box” products being removed



    NatWest Int Sols:
    • Have re-priced all their products and introduced 3 new Corporate products at 60%LTV



    Paradigm:
    • New Northern Rock semi exclusives including “Everyday20” 2 year fixed product which allows 20% overpayments



    Personal Touch:
    • Revised Accord exclusives are now available



    PMS:
    • Everyday20 3.49% 2 year Fixed Rate and Everyday 4.09% 3 Year Fixed Rate Northern Rock exclusive launched for Legal & General
    • Accord exclusives have been launched for PMS



    Principality:
    • A revised range of BTL products are now available
    • Rates increased by up to 0.5%



    Scottish Building Society:
    • With effect from Friday 7th May a new bank base rate tracker mortgage product is available for owner-occupied residential mortgage applications
    • The maximum LTV for applications received directly by the branch or submitted via a member of the Society’s Thistle Club is 80%. The maximum LTV for applications received from mortgage intermediaries that are not a member of the Thistle Club is 75%



    Sesame AR:
    • Kensington exclusives launched for Sesame AR’s – Prime and Prime One products now available



    TenetLime:
    • Accord exclusives are now available to TenetLime DA's



    Tipton Building Society:
    • Introduced two new discount rates up to 90% LTV for 2 and 3 years only available on the West Midlands



    Woolwich:
    Has launched a new revised range of fixed products
    • 2yr Fixed 3.14% with max LTV 70% and min loan £250k and a fee of £1999
    • 2yr Fixed 3.59% with max LTV 70% and min loan £100k and a fee of £499
    • 2yr Fixed 3.89% with max LTV 75% min loan £100k and max loan £500k and a fee of £499
    • 3yr Fixed 4.19% with max LTV 70% and min loan £100k and a fee of £499
    • 3yr Fixed 5.49% with max LTV 80% and a fee of £999
    • 5yr Fixed 5.49% with max LTV 80% and a fee of £999



    Direct Products


    Chorley & District Building Society:
    • Product 289 has been withdrawn and product 292 (2 Year 5.25% fixed rate) has been launched



    Halifax:
    • Halifax has extended the end dates on the entire Direct Only Home mover and Remortgage products to 31st August
    • Purchase and Remortgage Products re-priced, complete by date extended to 30 November 2010



    Leeds Building Society:
    • New range of 2 year Offset fixed products from 3.40% up to 80% LTV



    The Post Office:
    • Is launching a new range of 90% LTV deals tomorrow, with two-year fixed rates from 5.45%