RBSIP launches tracker at 90% LTV
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Royal Bank of Scotland Intermediary Partners is launching a range of mortgage deals for brokers, including a tracker at up to 90% LTV.
The product is a two-year tracker for purchases at Bank of England base rate plus 4.29%, currently 4.79%, for a maximum LTV of 90%.
The lender is also bringing out two exclusives, one with London-based distribution group Concordia and the other with Legal & General.
The Concordia product is a a low rate, high fee mortgage for the London market - a two-year fixed rate deal at 3.19% up to 60% LTV and with a £2,499 arrangement fee.
L&G has a five-year fixed rate first-time buyer deal at 6.99% up to 90% LTV with no arrangement fee.
Graham Felstead, director of intermediary mortgages at RBS, says: “I am delighted to be able to introduce these new products to our range.
“In response to requests from our business partners we have launched a new tracker mortgage to our core range plus a first-time buyer five year deal and as exclusive deals for L&G and Concordia respectively.
“In addition, we are reducing rates on our existing semi-exclusive two and three year fixed rate deals and many of our core range products.
“We are committed to supporting our intermediary partners with an attractive portfolio of products and excellent standards of service especially in the first-time buyer market.”
The products will be available from tomorrow.
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Readers' comments (10)
Anonymous | 19 Nov 2009 2:49 pm
What's the arrangement fee on that tracker? I bet it's vast.
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mark braidford | 19 Nov 2009 2:59 pm
What will the lower rate be through the branch?
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Lee Lewis | 19 Nov 2009 3:17 pm
I had heard the fee on the 90% tracker was £999. Which isn't too shabby at all.
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Nick | 19 Nov 2009 4:04 pm
A great ltv at a very competitive rate which combined is fantastic news in the market place.
The two previous comments are so negative i suggest they take a career change, i suggest traffic wardens.
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Anonymous | 19 Nov 2009 4:07 pm
RBS have done what brokers have been asking for over several months. They have put out a 90% deal that, by rights, should shake up the broker market at this LTV.
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Matthew | 19 Nov 2009 5:55 pm
I would suggest you become a traffic warden Nick as you don't seem to be worried about the attaching fee...
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Arni Banana | 20 Nov 2009 3:20 am
Ladies, ladies! May I suggest handbags at 10-paces and you resolve your differences that way.
Any means of accessing these offers if you're offshore I wonder.
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Avenue & Co Private Finance | 20 Nov 2009 8:48 am
RBS already have a 6.99% 5 Yr Fixed for First time buyers with a £999 Lender fee.
RBS FTB 90% LTV Tracker product breakdown:
£999 Lender fee, 10% overpayments allowed PA, ERC: 3% Loan, Income Multiples - affordability - up to 4.5 x income. No HLC.
A 2 yr tracker at BBR + 4.29% may be a risky proposition for first time buyers where budgeting is often important but still a move in the right direction.
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Anonymous | 20 Nov 2009 11:02 am
RBS have done what brokers have been asking for over several months. They have put out a 90% deal that, by rights, should shake up the broker market at this LTV.
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Anonymous | 20 Nov 2009 3:43 pm
Fair play to RBS for bringing this deal out. It's what we have been asking for. Their branch deal is only 0.1% cheaper but is only available to FTBs
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