View more on these topics

Pink release new buy-to-let fixed rate

Pink Home Loans has launched a new, exclusive buy-to-let mortgage funded by Mortgage Express.

The product is fixed at 5.85% until September 3 2007 and is available up to 85%LTV.

Investors can use the exclusive &#39choices&#39 flexible feature to overpay up to double the monthly payment even during the five-year fixed rate period. The overpayment can be used to take a payment holiday at a later stage which can be useful if the property remains empty for a month or two in between lets and therefore no rental income is being received.

Tony Jones, managing director at Pink Home Loans says: “We would advise borrowers that a buy to let property should be part of a wider spread of investments and to take a long-term view. The choice of property and area is crucial to obtaining optimal results and researching the local housing and lettings market is crucial.”

The number of properties is limited by a maximum total borrowing of £1m with Mortgage Express, and the main applicant must have an income of at least £20,000, with a joint income minimum of £30,000.

The offer is available on loans of a minimum £50,000 and maximum of £1m up to 60% LTV and gross rental income must exceed 130% of monthly mortgage payment.

The product carries a redemption penalty of six months&#39 interest at the fixed rate until September 3 2007 and an arrangement fee of £399.

Recommended

Staffordshire Building Society launches flexible deals

Staffordshire Building Society has launched two new flexible mortgage products in its first foray into the flexible market. The products are available for first-time buyer, home movers and remortgages, have rates starting at 4.74.% for five years. Staffordshire&#39s first product is a 1% discount rate off the Society&#39s 5.74% SVR for two years, with free […]

Buy-to-let left out of regulation loop

The Treasury has ruled out regulation of the buy-to-let mortgage market.It is sticking to the view that buy-to-let mortgages constitute a commercial transaction – despite calls from consumer bodies, lenders and intermediaries that the sector should be regulated.The Treasury says it “believes that the definition of a mortgage is the right one and that there […]

30 firms to support adviser.tech

30 major life offices, portals, fund-supermarkets and technology companies have committed to support the second major adviser.tech event, to be held in London on September 5. Five new exhibitors – IntelliFlo, Easylink, Morningstar and Canon UK – will be are using the event as a platform for their launch into the IFA market. Over 450 […]

Correspondent lending written into regulatory plan

Correspondent lending will be regulated after N3, writes Harriet Williams.Classing correspondent lenders as a type of packager, the Treasury said their business would fall under the regulated activity of “arranging”.Nigel Gardner, operations director of Genesis Home Loans, says: “I don&#39t think this announcement will surprise anyone and anyone who thought any part of the mortgage […]

Thumbnail

Case study: administration — implementing a management log

Our client is a leading video game and publishing company best known for its console role-playing game franchises. The client provides a number of benefits, at varying levels and cost that attract a P11d liability. With the absence of a management log to track data for benefit movements, enormous administrative and therefore cost implications were occurring each year just to comply with P11d reporting requirements.

Newsletter

News and expert analysis straight to your inbox

Sign up