Product changes at Irish Permanent

Irish Permanent has announced a range of product improvements designed to build market share in both the buy-to-let and home loan sectors.

The lender, whose UK base is in Hammersmith in London, is putting the changes in place following extensive consultation with intermediaries.

They comprise loan-to-values lifted to 85% of £1m for buy-to-let; rent cover reduced to 125% and based on monthly interest payments; individual self-certification buy-to-let limit lifted to £500,000; individual self-certification home loan limit increased to £500,000; removal of the 0.25% differential between capital-and-interest and interest-only Flexi Tracker mortgages; special buy-to-let five-year fixed interest rate of 5.25%.

The procuration fee payable on all products is an uncapped 0.5%.