Improvements to our mortgage range and minimum procuration fee change

Improvements to our mortgage range

On Tuesday 10 July 2018 we’re reducing rates on selected fixed and tracker products and increasing the maximum loan size to £2m on selected 75% LTV large loan products.

Residential large loan fixed rate reductions (purchase and remortgage)

  • 70% LTV 2 year fixed rate 1.69% with £1999 product fee (rate reduced by 0.15%).
  • 70% LTV 5 year fixed rate 1.99% with £1999 product fee (rate reduced by 0.30%).

Residential large loan tracker rate reduction (purchase and remortgage)

  • 70% LTV 2 year tracker rate 1.84% (BBR+1.34%) with £1999 product fee (rate reduced by 0.10%).

Residential fixed rate reduction (purchase and remortgage)

  • 85% LTV 2 year fixed rate 1.74% with £999 product fee (rate reduced by 0.20%).

Residential large loan maximum loan size increased to £2m (purchase and remortgage)

  • 75% LTV 2 year fixed rate 1.64% with £999 product fee.
  • 75% LTV 5 year fixed rate 1.99% with £999 product fee.
  • 75% LTV lifetime tracker rate 2.39% (BBR+1.89%) with £999 product fee. 

Further information

  • Product early repayment charges may apply, plus any benefit package cashback or paid standard legal fees
  • Fixed and tracker product codes will be replaced on amended products
  • Full applications on all existing products that are due to be amended must be submitted by midnight on Monday 9 July 2018 in order to secure a booking on these products.

For full details of our new range please see the Rate Bulletin (Issue 13) which will be available on our website on Tuesday 10 July 2018.

Minimum procuration fee change

In addition, from Monday 3 September 2018 our minimum new business procuration fee will reduce from £400 to £250. Additionally, we’re removing the minimum £25,000 threshold that triggers the minimum procuration fee.

Cases agreed and transmitted or retransmitted (as a result of a material change) from Monday 3 September will receive a £250 minimum procuration fee. Offer KFIs will reflect the new minimum procuration fee.

 

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