View more on these topics

DB Mortgages – Near Prime + Two Year Tracker Full Status

DB Mortgages

Near Prime + Two Year Tracker Full Status

Type: Adverse credit tracker mortgage

Tracker term: Two years

Tracker rate: 2% above Libor up to 75% of valuation, 2.2% Libor up to 80% of valuation, 2.5% above Libor up to 85% of valuation, 2.85% above Libor up to 90% of valuation, 3.25% above Libor up to 95% of valuation

Payable rate: Up to 95% of valuation – 7%, up to 90% of valuation 6.6%, up to 85% of valuation – 6.25%, up to 80% of valuation – 5.95%, up to 75% of valuation – 5.75%

Minimum loan: £25,001

Maximum loan: Up to 95% of valuation subject to a maximum of £300,000, up to 90% of valuation subject to a maximum of £350,000, up to 85% of valuation subject to a maximum of £500,000, up to 75% of valuation subject to a maximum of £1m

First time buyers: Up to 90% of valuation full status or 85% of valuation for buy-to-let

Income multiples: Based on affordability

Conditions: Up to £500 in CCJs allowed, no arrears in last 12 months, bankruptcy and IVAs acceptable if discharged/satisfactorily conducted for at least 24 months,

Arrangement fee: 0.5% of the original loan

Redemption fee: 6% of the amount repaid in the first two years

Introducer’s fee: Refer to lender

Tel: 0845 0522280

Recommended

Panel calls for commission ban

The Financial Services Consumer Panel has called for a ban on commission payments to advisers but also warned that sales bias must be eradicated. Speaking on the release of its annual report, FSCP chairman John Howard says this is a “vital opportunity” to change the face of retail financial services and avoid future misselling scandals.

LV= slashes term assurance rates

LV= has joined the protection industry’s rate battle by slashing around 90 per cent of its term assurance premium rates.The rate cut follows LV=’s claim that it is the first provider in the intermediary market to have no standard exclusions on life assurance, critical illness and income protection.Tesco has also joined the rate war, announcing […]

Banks will dominate if CARIS is introduced

The Retail Distribution Review discussion paper is likely to call for Customer Agreed Remuneration which could see greater consolidation in the intermediary market and greater dominance of the banks, according to Accenture.

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com