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Bananas Inc launches three-year buy-to-let tracker deal

Packager Bananas Inc has launched a three-year buy-to-let tracker deal at base rate plus 0.8%.

The deal has a current rate of 4.8% with LTVs available up to 85% with a lending limit of £300,000. Borrowers receive a £650 cashback payment upon completion of themortgage, which is being launched by Bananas Inc with the support of Platform Home Loans.

The full-status product is available to the employed, self-employed, purchasers and remortgagors, whilst a clean credit history is required.

Sue Cox, business development manager at Bananas Inc, says: “This product has an attractive headline interest rate for a buy-to-let product. The cashback is the icing on thecake.”

The mortgage carries a completion fee of £395, which can be added to the loan. The procuration rate is 0.3%. Redemption interest is 6% during the first three years of the mortgage. Once the three-year redemption period has passed, borrowers revert to Bank base rate plus 1.95%. MIG is charged from 75% LTV at a rate of 6.95%.


Gooding must trade or lose board status

Ami chairman Charles Gooding will not be eligible to stand for re-election to the board if he doesn&#39t get his proposed network up and running in time. AMI last week announced that the existing board had drawn up the constituencies and timetable for the elections which will take place over the next 12 weeks. Chris […]

PInk appoints BDM

Pink Home Loans has appointed Lisa Broomfield as business development manager for Scotland and Northern Ireland. Broomfield joins Pink from BM Solutions, where she held the position of business development manager for the same region. Previously, she worked for traded endowment company Beale Dobie and for Legal & General as a business development manager for […]

Exclusive: Thomas joins Opus

Paul Thomas, who quit as chief operating officer of Mortgages PLC on March 31, is joining the board of Opus Commercial as managing director. Mortgage Strategy exclusively revealed in December last year that Thomas, 48, was leaving the specialist lender. On joining Opus Commercial he is to take responsibility for turning the company&#39s commercial arm […]

All your network questions answered by the industry&#39s leading experts

Which of the AR or DR options will maximise the time spent with my clients? Chris French is chairman of the Mortgage Marketing CentreAbout the same because you will still have the same number of clients and the same processes. But the DR option means more time after-hours spent on compliance, doing returns, etc. Richard […]


Employer iPMI responsibilities could continue to escalate, says Jelf

New laws in Dubai will put the burden of providing international private medical insurance (iPMI) firmly on the shoulders of the employer in order to maintain the country’s leading healthcare facilities. With 10,000 UK nationals having moved to the country since 2007 and only 16.5 per cent of the total 8.2 million people living there being Emiratis, Jelf Employee Benefits believes this move was inevitable and employer responsibilities could continue to escalate in future.


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