2 and 3 Year Fixed Changes
14th November 2011
Due to changes in the financial markets, swap costs in general have risen. Consequently, today we find it necessary to make some changes to our current range of 2 and 3 Year Fixed Rate products. However, whilst some of our lower LTV 2 Year Fixed Rates are increasing in price, we are pleased to announce that we have been able to reduce the rates on our 3 Year Fixed Rates to 75% and 80% LTV.
Product details as follows:
| Description |
Rate |
LTV |
App fee |
Comp Fee |
Available for |
| 2 Year Fixed Rate |
2.58% |
60% |
£195 |
£1800 |
Purchase and remortgage business |
| 2 Year Fixed Rate |
2.78% |
60% |
£195 |
£800 |
Purchase and remortgage business |
| 2 Year Fixed Rate |
3.08% |
60% |
£195 |
£0 |
Purchase and remortgage business |
| 2 Year Fixed Rate |
2.98% |
75% |
£195 |
£800 |
Purchase and remortgage business |
| 2 Year Fixed Rate |
3.18% |
75% |
£195 |
£0 |
Purchase and remortgage business |
| 3 Year Fixed Rate |
3.28% |
75% |
£195 |
£800 |
Purchase and remortgage business |
| 3 Year Fixed Rate |
3.58% |
75% |
£195 |
£0 |
Purchase and remortgage business |
| 3 Year Fixed Rate |
3.78% |
80% |
£195 |
£800 |
Purchase and remortgage business |
KFI's for the current equivalent products can no longer be obtained from the intermediary website. Please note that the current 2 Year Fixed Rate to 50% LTV has also been withdrawn and will not be replaced at present.
Please be aware that you can continue to submit any suitable e-mortgage applications for these products providing they are received by 5.00pm today. Any required supporting documentation, including the e-declaration signed by the borrower(s) should also be uploaded following submission on our e-mortgage site and should be received by our Mortgage Service Centre by 5pm Monday 21 November. For any existing pipeline cases on these products ALL support documentation should again be uploaded & sent to arrive before the Monday deadline. Any cases not meeting these requirements will be cancelled. All application fees, will be collected within 48 hours.
Where a product switch is taking place (changing to a better rate) and our Mortgage Service Centre has commenced processing the application, a £250 fee must be paid up front prior to the product amendment taking place. Please also be aware that the £250 fee is non-refundable if a product switch has taken place.
Paul Darwin
Head of Intermediary Sales
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