Self-cert offer from Capital

Capital Home Loans is offering free valuation on its 90% LTV self-certification tracker mortgage.

The base rate plus 0.74% tracker allows borrowers to save up to 465 on valuation costs and gives borrowers a 0.5% discount until December 31 2007.

Mike Healy, head of sales at CHL, says: “This must be one of the top self-cert trackers on the market. The free valuation up to 500,000 will be the clinching factor for many borrowers given that there aren’t any other products that offer it at this low rate.”

The standard proc fee payable is unlimited at 0.5% of the sum advanced and there is no higher lending charge. A 3% early repayment charge is payable until Dec-ember 31 2007, but there is no extended tie-in. The product is available for purchase and remortgage for properties worth up to 500,000.

The move follows CHL’s recent free valuation on its 4.74% three-year fixed rate buy-to-let mortgage which it says has led to unprecedented business levels in recent weeks.

Healy adds: “We offer free valuation on our 4.74% buy-to-let product which has been a spectacular success, so we have decided to provide free valuation with self-cert loans. We know this will create a similar upsurge in business volumes for us.”