Pink Home Loans has launched a shared exclusive two-year self-cert product funded by UCB Home Loans.
The product offers a pay rate of 5.19%, which is Bank Base Rate plus 0.69%. The competitive product is available up to 85% loan to value with a maximum loan limit of one million pounds.
Benefits to the client include free valuation, no higher lending charge, no overhang on the early repayment charge and flexible options. Flexible features allow the client to overpay, use a borrow back facility where the client can borrow back the money they have already paid in, underpay and take payment holidays.
Dev Malle, sales director at Pink Home Loans says: This product has an excellent upfront rate for the self-cert client with a relatively low arrangement fee of 495. As a Bank Base Rate tracker, it is transparent with the added benefit of flexible features. When you throw into the pot UCBs excellent service reputation it makes it a very attractive self-cert proposition on which Pink will pay the broker in 24 hours of completion.
Graham Allsop, managing director at Mortgage Needs, Wirral says; With over three million self employed people in the UK and many others on short terms contracts with irregular incomes i.e. non guaranteed bonus or commissions this product offers an attractive self-cert rate with the added benefits of a free valuation, no higher lending charge and no overhang on the early repayment charge. The flexible options will also be useful to many people.”