PRODUCT CHANGES WITH EFFECT FROM SATURDAY 31^ST JANUARY

 

Homebuyer & Remortgage (own conveyancer)

 

NEW 5 Year Fixed Rate 5.29%

£999 fee, 0-75% LTV, £0-500k

 

Mainstream and Specialist product ranges streamlined

 

Ahead of next week's decision on the Bank of England base rate, we are removing our tracker products.  They will be replaced following the announcement.

 

Product Transfer & Further Advance

 

NEW 3 & 5 Year Fixed Rates

From 4.79% with a £999 fee

 

End dates extended to 30^th April of relevant year

 

New LTV bandings introduced

0-75%, 75-85%, 85-95%

 

Other Changes

 

We will be making a number of changes to our mainstream and specialist product ranges. These moves will ensure that we will continue to write a proportionate amount of business.

 

Changes are as follows:

 

• Removal of new business Self-Certification products
• Buy-to-Let portfolio limited to 9 properties ( £3 million limit remains)
• New build lending (houses & flats) to 80% LTV, this includes Further Advances
• New Build Buy to Let lending (houses & flats) to 65% LTV, this includes Further Advances
• 80% LTV limit will now apply to Mainstream Further Advance applications
• Credit Limit Increases will no longer be available for customers on Personal Choice.

 

We will continue to offer Product Transfers for our existing Self-Certification customers.  These customers may be able to apply for additional borrowing through the Mainstream product range.

 

Full applications for cases that are affected by the above changes will need to be submitted by 8pm on 30^th January 2009.

 

Full information on our range will be available on our website from Saturday 31st January at www.bankofscotland.co.uk/intermediary

Customers with smaller loans will typically pay less over the product life if they select products with smaller fees, despite the higher interest rates payable.

 

If you do not have professional experience you should not rely on the information contained in this communication. If you are a professional and reproduce any part of the information contained in this communication, to be used with or to advise private clients, you must ensure it conforms to the Financial Services Authority's advising and selling rules.

 

 

 

 

To unsubscribe please click Unsubscribe me