Weekly Product News w/c 28th June 2010 PDF Print E-mail
Monday, 05 July 2010 00:00
Intermediary Products
Coventry Building Society / Godiva:
  • New products launched: FXR48 / FXR49 / FXR50 / FXR51 / TKZ38 / CPZ66 / FLX56 / FLX57 / GBT72 / GBT73 / GBT74 / GBT75
  • Products withdrawn: FXR35 / FXR36 / FXR34 / FXR44 / TKZ36 / TKZ 37 / FLX54 / FLX55 / GBT68 / GBT69 / GBT70 / GBT71
Ipswich Building Society:
The Following products have been launched:
  • 2yr Fixed Rate (purchase only) at 4.25%
  • 2yr Fixed Rate (remortgage only) at 4.25%
  • 3yr Discount Rate currently at 4.25%
  • Buy to Let 2yr Fixed Rate at 5.85%
Manchester Building Society:
  • The Society's Standard Variable Rate will be amended to 5.49% as of the 1st July 2010.
Manor Mortgages / Clydesdale Bank:
New products available via Clydesdale Bank Plc:
  • 4.99% Fixed 2 year BTL
  • 2.59% Offset 2 year discount
Mansfield Building Society:
  • New product launched - 5 year fixed rate at 4.75% - DIX139.
Natwest:
  • A new 2 Year BTL (Tracker +3.49%) 3.99% Purchase only product has been launched by Natwest.
Newbury Building Society:
Criteria Changes
  • Shared Ownership income multiples increased from 3.25 to 3.75
  • Income multiples for loans under £20k has been increased from 3.25 to 3.75
  • Minimum purchase share for Shared Ownership reduced from 50% to 40%.
  • Minimum loan reduced on Shared Ownership products from £50k to £40k.
  • All Affordable Housing products are only available on a repayment basis.
Platform:
  • Core Product Launch Monday 28th
Buy to Let changes
  • 2 and 3 year fixed rates to be reduced
General changes
  • 1% or 1 months notice rule at the end of the ERC period to be removed for all products
Criteria changes
  • Interest only will no longer be available on non-advised residential mortgages
Platform Exclusive Product Launch Monday 28th:
Mainstream changes to exclusive products for the following networks – Openwork / Intrinsic / Pink / BDS / L&G / Mortgage Advice Bureau / Sesame / Personal Touch Financial Services / Mortgage Intelligence / Mortgage Next / First Complete
  • Core Mainstream rates to be reduced
  • Selected semi-exclusive rates to be withdrawn or re-priced
  • 3 year fixed and tracker products to be withdrawn
  • New 7 and 10 year fixed products to be launched
  • Maximum loan size to be reduced at some LTV bands
  • Positive Solutions Mainstream access to be removed
Progressive Building Society:
What has changed?
  • Improved 2 year fixed rate products for house purchase at lower LTV
  • Improved 2 year fixed rate product for remortgage with a reduction in the booking fee
  • Fixed rate end dates extended by 2 months to September
  • A reduction in the minimum purchase price to £75,000 for suitable security
First Time Buyers
If you are buying your first home a Progressive mortgage may be able to help you finance the purchase with our 2 year fixed rate product requiring a deposit of only 5%.
  • 95% LTV available
  • Customers can borrow up to 95% LTV for mortgages for house purchase.
Shepshed Building Society:
The following product has been withdrawn:
  • 3 Year 5.25% Fixed 75% LTV
Solent Mortgage Services Melton Mowbray Building Society:
New products launched.
The Tipton & Coseley Building Society:
The following two discounted rates have been launched:
  • D167 2 Year Discount
  • D163 3 Year Discount
Direct Products
Cheshire Building Society:
All products have been withdrawn.
Derbyshire Building Society:
All products have been withdrawn.
Dunfermline Building Society:
All products have been withdrawn.
Ipswich Building Society:
The following products have been withdrawn:
  • BTL 2 Year Fixed Rate
  • 2 Year Fixed Rate (Remortgage) 3.99%
  • 2 Year Fixed Rate 3.99%
  • 3 Year Discount rate 4.25%
The following products have been withdrawn:
  • BTL 2 Year Fixed Rate
  • 2 Year Fixed Rate (Remortgage) 3.99%
  • 2 Year Fixed Rate 3.99%
    • 3 Year Discount rate 4.25%