View more on these topics

Knight Funding offers TMB products through PMPA members

Knight Funding is offering fixed and tracker rate products from The Mortgage Business exclusively through members of the Professional Mortgage Packagers Alliance.

The TMB exclusives include a two-year self-cert fixed rate product at 4.99% with an arrangement fee of 799 that can be added to the loan, and no higher lending charge.

A two-year self-cert tracker product is also on offer at 0.19% above Bank of England base rate, currently a pay rate of 4.69%, with an arrangement fee of 1,250 that can also be added to the loan.

Early repayment charges on these two products are 6% during the opening rate period and do not extend beyond the July 31 2008.

Maximum loan sizes are 5,000 at 85%, 1m at 75% and 2m at 65%.

Both options are available for purchase and remortgage to employed and self-employed applicants.

The third TMB exclusive is a two-year self-cert buy-to-let tracker at Bank base rate plus 0.59%, with a current pay rate of 5.09%.

There are no higher lending charges and no early repayment charges on this product.

The loan is based on self-cert income so there is no rental yield calculation. The product is also available to first-time buyers with proof of income. The maximum loan size is 5,000 at 85%.

Frances Scanlan, chief executive of Knight Funding, says: These TMB exclusives via the PMPA offer excellent value to borrowers and we expect high levels of demand from brokers looking for keenly priced products that are appropriate for their clients needs.

With swap rates on the increase the two-year fixed rate with no higher lending charge looks particularly good value for self-cert applicants.

Recommended

Come and join the fun at It’s a Knockout contest

Mortgage Strategy is offering one lucky reader the chance to enter a 10-person team free of charge in its upcoming It’s a Knockout competition. The competition is taking place on Friday July 14 at Kempton Park Racecourse where contenders will be pitted against the great and the good of the mortgage industry. The event will […]

World Cup offer on MT products

The Mortgage Times Group has launched a range of exclusive products in conjunction with Platform which offer free valuations for the duration of the World Cup. All prime products are exempt from the offer. Sub-prime three-year products are 0.1% lower than the standard range including buy-to-let and Right to Buy deals. The near prime bonus […]

Concern over Preferred’s online calculator

Preferred has sparked concern over the large amounts its online affordability calculator is offering borrowers. Preferred removed income multiples from its product range last week, calculating loan amounts based solely on affordability criteria. But a source says: “The amounts it shows customers can borrow are quite large, based on relatively small earnings. It’s a bit […]

CML says technology poses threat to packagers’ role

The Council of Mortgage Lenders has warned that electronic packaging could pose a threat to packagers and that they must embrace technology to survive. The CML says that in addition to regulation, technology and online applications that simplify and speed up the process for brokers threaten the added value packagers have always been able to […]

Newsletter

News and expert analysis straight to your inbox

Sign up