Weekly Product News w/c 14th June 2010 PDF Print E-mail
Friday, 18 June 2010 00:00
Intermediary Products
Birmingham Midshires:
BUY TO LET and HOUSE 2 HOUSE products only:
  • Fixed rate end dates extended to October.  Product codes also amended on these products.
The Business Mortgage Company:
The following product has been withdrawn:
  • 7311 BTL 5.40% Fixed until 01/07/2012 then BBR plus 4.24% for Term
The following product has been launched:
  • 7632 BTL 5.40% Fixed until 01/10/2012 then BBR plus 4.24% for Term
Chelsea Building Society:
  • Has reduced their rates and moved the end dates forward by two months.
Cheltenham and Gloucester:
CRITERIA CHANGE:
  • Acceptable income has been amended to 60% for the following: mortgage subsidy, large town allowance, maintenance, and car allowance.
  • Investment income is no longer accepted.
First Complete:
The following products have been withdrawn.
  • 3.09% 1966 Everyday 75% LTV 2-yr Fixed rate
  • 2.39% 1966 Everyday 75% LTV 2-yr Tracker rate
  • 3.19% Everyday20 70% LTV 2-yr Fixed rate
ITL Mortgages:
Have launched 3 new products:
  • 2 year fixed 3.40%  - Max LTV 60%
  • 3 year fixed 4.29%  - Max LTV 75%
  • 5 year fixed 5.45%  - Max LTV 65%
The following products have been withdrawn:
  • 4.73% 3 year fixed - 75% LTV
  • 5.47% 5 year fixed - 75% LTV
  • 5.49% 3 year fixed - 80% LTV
Manor Mortgages:
  • The Mortgage Works products have been withdrawn.
MBS Lending:
  • Product end dates extended to 31st July 2012.
Melton Mowbray Building Society:
  • BTL and discounted products have had their end dates extended to July (except Mortgage Options exclusive product).
  • The BTL product has been increased from 60% to 70% LTV.
  • New 1% discounted product available with no Application or Completion Fees.
Mortgage Intelligence:
The following Northern Rock products have been withdrawn:
  • 1966 Everyday 2 Year Fixed rate at 3.09% up to 75% LTV with a £1,966 fee.
  • 1966 Everyday 2 Year Tracker at 2.39% (BOE + 1.89%) up to 75% LTV with a £1,966 fee.
  • Everyday20 2 Year Fixed rate at 3.19% up to 70% LTV with a £1,995 fee.
Mortgage Next:
The following Northern Rock products have been withdrawn:
  • 1966 Everyday 2 Year Fixed rate at 3.09% up to 75% LTV with a £1,966 fee.
  • 1966 Everyday 2 Year Tracker at 2.39% (BOE + 1.89%) up to 75% LTV with a £1,966 fee.
  • Everyday20 2 Year Fixed rate at 3.19% up to 70% LTV with a £1,995 fee.
Newbury Building Society:
New 2 year fixed rate product launched:
  • Fixed 3.49% until 12/06/2012 Max 75% LTV
  • The postcode restriction has been lifted on residential products up to 85% LTV.  Newbury Building Society will now lend to all introduced business on properties located in England and Wales Up to 85% LTV.
  • This only applies to residential products.
  • The proc fee has been increased by the lender from 0.25% to 0.35%.
Norwich and Peterborough:
Have re-priced all their products
Paradigm:
The following Northern Rock products have been withdrawn:
  • 1966 Everyday 2 Year Fixed rate at 3.09% up to 75% LTV with a £1,966 fee.
  • 1966 Everyday 2 Year Tracker at 2.39% (BOE + 1.89%) up to 75% LTV with a £1,966 fee.
  • Everyday20 2 Year Fixed rate at 3.19% up to 70% LTV with a £1,995 fee.
Personal Touch Financial Services:
The following Northern Rock products have been withdrawn:
  • 1966 Everyday 2 Year Fixed rate at 3.09% up to 75% LTV with a £1,966 fee.
  • 1966 Everyday 2 Year Tracker at 2.39% (BOE + 1.89%) up to 75% LTV with a £1,966 fee.
  • Everyday20 2 Year Fixed rate at 3.19% up to 70% LTV with a £1,995 fee.
PMS:
The following Northern Rock products have been withdrawn:
  • 1966 Everyday 2 Year Fixed rate at 3.09% up to 75% LTV with a £1,966 fee.
  • 1966 Everyday 2 Year Tracker at 2.39% (BOE + 1.89%) up to 75% LTV with a £1,966 fee.
  • Everyday20 2 Year Fixed rate at 3.19% up to 70% LTV with a £1,995 fee.
Positive Solutions:
The following Northern Rock products have been withdrawn:
  • 1966 Everyday 2 Year Fixed rate at 3.09% up to 75% LTV with a £1,966 fee.
  • 1966 Everyday 2 Year Tracker at 2.39% (BOE + 1.89%) up to 75% LTV with a £1,966 fee.
  • Everyday20 2 Year Fixed rate at 3.19% up to 70% LTV with a £1,995 fee.
Saffron Building Society:
Have introduced a new 3 year discount
Sesame AR:
The following Northern Rock products have been withdrawn:
  • 1966 Everyday 2 Year Fixed rate at 3.09% up to 75% LTV with a £1,966 fee.
  • 1966 Everyday 2 Year Tracker at 2.39% (BOE + 1.89%) up to 75% LTV with a £1,966 fee.
  • Everyday20 2 Year Fixed rate at 3.19% up to 70% LTV with a £1,995 fee.
Shepshed Building Society:
  • Residential Tracker (BBR + 3.99% for 2 years) has been withdrawn.
The Mortgage Works:
The following Northern Rock products have been withdrawn:
  • 2 year fixed rate at 80% LTV reduced by 0.20% to 5.79%
  • Selected 1 year fixed and tracker rates increased by 0.30%
  • Arrangement fees increased on Buy to Let and Let to Buy Lifetime Variable products
  • Limited company rates increased by 0.60%
End Dates Extended on all Guarantor and Buy to Let New Business products.
Tipton:
We have extended the end date on the following 2 year discount products with immediate effect listed as Tipton BS Mortgage Clud.
Direct Products
Britannia Building Society:
The following product has been withdrawn: 
  • 5 Year 3.99% Fixed until 31/08/2015 Option 1
Clydesdale Bank:
Have re-priced all their rates and dates extended to August
The Co-Operative:
The following product has been withdrawn:
  • 5 Year 3.99% Fixed until 31/08/2015 Option 1
HSBC:
  • End dates have been extended to September.
  • Various rates have been reduced.
Mansfield Building Society:
New 3 Year fixed rate at 3.89% 75% LTV available (DIX148)
  • Product code DIX140 has been withdrawn.
Yorkshire Building Society:
  • New 2 year fixed and 2 year tracker products available with £1,495 product fee.
  • These products will be priced 0.10% lower than the equivalent products with £995 fee (which remain available and unchanged)
  • 2 year fixed starting from only 2.79%, available up to 75% LTV
  • 2 year tracker starting from only 2.29% (BoE + 1.79%), available up to 75% LTV