Mortgages
Intermediary product summary
February 2015
Top deals:
2 year fixed rate product
31/05/2017 up to 80% LTV with free standard valuation (maximum £525),
2.19%
until
no completion fee plus £350 cashback
5 year fixed rate product
31/05/2020 up to 75% LTV with free standard valuation (maximum £525),
2.89%until
no completion fee plus £350 cashback
All rates revert to Standard Variable Rate, currently 3.99% variable
wbfi.co.uk
Intermediary Support Team
0845 338 7543
[email protected]
This information is for the use of professional intermediaries only. It is not a consumer advertisement and should not be
displayed as such or handed out to the public. Criteria is subject to change, please check before submitting applications.
for intermediaries
Purchase/Mover
Product
Max LTV
APR
Loan
Product description
Fees
Additional features
Early repayment charge
2 year fixed rate products
1.89%
fixed until
31/05/2017
2.19%
fixed until
31/05/2017
2.39%
fixed until
31/05/2017
3.09%
fixed until
31/05/2017
75%
(excl. fees)
80%
(excl. fees)
85%
(excl. fees)
90%
(excl. fees)
3.7%
3.8%
Min
£25,001
Non-refundable booking fee £199
Max
£1,000,000
Min
£25,001
Max
£750,000
3.8%
Min
£25,001
4.0%
Max
£500,000
Completion fee £0
Free standard valuation
(maximum £525)
• After 31/05/2017 the rate reverts to Standard
Variable Rate for the rest of the term, currently
3.99% variable
Completion fee £300
Free standard valuation
(maximum £525)
• Daily interest
Non-refundable booking fee £199
Early repayment charges apply
for any payments made which
exceed the overpayment
allowance or if the mortgage is
exited early.
Standard legal fees
£350 cashback
The fees are:
Standard legal fees
• Overpayments below £1,000
(Any overpayments made will cause the amount upon
which interest is charged, to be reduced at the month end)
Completion fee £300
Non-refundable booking fee £199
Standard legal fees
Until 31/05/2017: 3% of the
amount repaid;
Free standard valuation
(maximum £525)
plus interest to the end of
the month.
These fixed rate mortgages are for a set period of time with a fixed end date. Depending on when the mortgage starts the fixed rate period may be slightly less or more than the period stated.
wbfi.co.uk
Intermediary Support Team
0845 338 7543
[email protected]
Account Manager Contact Details
Account Manager Contact Details
Account Manager Contact Details
Tony Tudor
North
Polly Johal Central
Gareth Tormajer South
[email protected]
07507 634127
[email protected]
07950 149441
[email protected]
07507 634137
Purchase/Mover
Product
Max LTV
APR
Loan
Product description
Fees
Additional features
Early repayment charge
5 year fixed rate products
2.59%
fixed until
31/05/2020
2.64%
fixed until
31/05/2020
2.79%
fixed until
31/05/2020
2.84%
fixed until
31/05/2020
2.99%
fixed until
31/05/2020
3.39%
fixed until
31/05/2020
3.99%
fixed until
31/05/2020
65%
3.6%
65%
3.6%
(excl. fees)
(excl. fees)
75%
(excl. fees)
75%
(excl. fees)
80%
(excl. fees)
85%
(excl. fees)
90%
(excl. fees)
3.7%
N/A
Completion fee £400
Min
£25,001
£350 cashback
Non-refundable booking fee £199
Max
£1,000,000
Early repayment charges apply
for any payments made which
exceed the overpayment
allowance or if the mortgage is
exited early.
Standard valuation fee
Standard legal fees
N/A
• After 31/05/2020 the rate reverts to Standard
Variable Rate for the rest of the term, currently
3.99% variable
3.7%
The fees are:
Until 31/05/2018: 5% of the
amount repaid;
Until 31/05/2019: 4% of the
amount repaid;
Until 31/05/2020: 3% of the
amount repaid;
£350 cashback
• Daily interest
• Overpayments below £1,000
3.8%
Min
£25,001
(Any overpayments made will cause the amount upon
which interest is charged, to be reduced at the month end)
Max
£750,000
plus interest to the end of
the month.
Completion fee £400
3.9%
4.2%
Non-refundable booking fee £199
Min
£25,001
Standard legal fees
Free standard valuation
(maximum £525)
Max
£500,000
These fixed rate mortgages are for a set period of time with a fixed end date. Depending on when the mortgage starts the fixed rate period may be slightly less or more than the period stated.
wbfi.co.uk
Intermediary Support Team
0845 338 7543
[email protected]
Account Manager Contact Details
Account Manager Contact Details
Account Manager Contact Details
Tony Tudor
North
Polly Johal Central
Gareth Tormajer South
[email protected]
07507 634127
[email protected]
07950 149441
[email protected]
07507 634137
Remortgage
Product
Max LTV
APR
Loan
Product description
Fees
Additional features
Early repayment charge
2 year fixed rate products
1.89%
fixed until
31/05/2017
2.19%
fixed until
31/05/2017
2.19%
fixed until
31/05/2017
2.59%
fixed until
31/05/2017
75%
(excl. fees)
80%
(excl. fees)
80%
(excl. fees)
3.7%
3.7%
3.8%
Min
£25,001
Max
£1,000,000
Completion fee £0
Non-refundable booking fee £199
Fees assisted legals
Min
£25,001
Max
£750,000
Completion fee £0
Non-refundable booking fee £199
Standard legal fees
fixed until
31/05/2017
3.29%
fixed until
31/05/2017
3.29%
fixed until
31/05/2017
Free standard valuation
(maximum £525)
£350 cashback
85%
(excl. fees)
• After 31/05/2017 the rate reverts to Standard
Variable Rate for the rest of the term, currently
3.99% variable
3.8%
• Daily interest
Completion fee £0
Non-refundable booking fee £199
85%
(excl. fees)
90%
(excl. fees)
(Any overpayments made will cause the amount upon
which interest is charged, to be reduced at the month end)
3.9%
4.0%
Free standard valuation
(maximum £525)
Fees assisted legals
• Overpayments below £1,000
2.59%
Free standard valuation
(maximum £525)
Non-refundable booking fee £199
Standard legal fees
Min
£25,001
Max
£500,000
Early repayment charges apply
for any payments made which
exceed the overpayment
allowance or if the mortgage is
exited early.
The fees are:
Completion fee £0
Until 31/05/2017: 3% of the
amount repaid;
Free standard valuation
(maximum £525)
plus interest to the end of
the month.
£350 cashback
Completion fee £0
Non-refundable booking fee £199
Free standard valuation
(maximum £525)
Fees assisted legals
Completion fee £0
90%
(excl. fees)
Non-refundable booking fee £199
4.0%
Standard legal fees
Free standard valuation
(maximum £525)
£350 cashback
These fixed rate mortgages are for a set period of time with a fixed end date. Depending on when the mortgage starts the fixed rate period may be slightly less or more than the period stated.
wbfi.co.uk
Intermediary Support Team
0845 338 7543
[email protected]
Account Manager Contact Details
Account Manager Contact Details
Account Manager Contact Details
Tony Tudor
North
Polly Johal Central
Gareth Tormajer South
[email protected]
07507 634127
[email protected]
07950 149441
[email protected]
07507 634137
Remortgage
Product
Max LTV
APR
Loan
Product description
Fees
Additional features
Early repayment charge
5 year fixed rate products
2.69%
fixed until
31/05/2020
2.69%
fixed until
31/05/2020
2.89%
fixed until
31/05/2020
2.89%
fixed until
31/05/2020
Completion fee £0
65%
(excl. fees)
3.5%
Non-refundable booking fee £199
Free standard valuation
(maximum £525)
Fees assisted legals
Completion fee £0
65%
(excl. fees)
75%
(excl. fees)
3.6%
3.6%
• After 31/05/2020 the rate reverts to Standard
Variable Rate for the rest of the term, currently
3.99% variable
Min
£25,001
Max
£1,000,000
Non-refundable booking fee £199
Standard legal fees
£350 cashback
• Daily interest
Completion fee £0
• Overpayments below £1,000
Free standard valuation
(maximum £525)
(Any overpayments made will cause the amount upon
which interest is charged, to be reduced at the month end)
Non-refundable booking fee £199
Free standard valuation
(maximum £525)
Fees assisted legals
Completion fee £0
75%
(excl. fees)
Non-refundable booking fee £199
3.7%
Standard legal fees
Free standard valuation
(maximum £525)
Early repayment charges apply
for any payments made which
exceed the overpayment
allowance or if the mortgage is
exited early.
The fees are:
Until 31/05/2018: 5% of the
amount repaid;
Until 31/05/2019: 4% of the
amount repaid;
Until 31/05/2020: 3% of the
amount repaid;
plus interest to the end of
the month.
£350 cashback
These fixed rate mortgages are for a set period of time with a fixed end date. Depending on when the mortgage starts the fixed rate period may be slightly less or more than the period stated.
wbfi.co.uk
Intermediary Support Team
0845 338 7543
[email protected]
Account Manager Contact Details
Account Manager Contact Details
Account Manager Contact Details
Tony Tudor
North
Polly Johal Central
Gareth Tormajer South
[email protected]
07507 634127
[email protected]
07950 149441
[email protected]
07507 634137
Remortgage
Product
Max LTV
APR
Loan
Product description
Fees
Additional features
Early repayment charge
5 year fixed rate products (continued)
3.09%
fixed until
31/05/2020
3.09%
fixed until
31/05/2020
3.49%
fixed until
31/05/2020
Fees assisted legals
Early repayment charges apply
for any payments made which
exceed the overpayment
allowance or if the mortgage is
exited early.
Completion fee £0
The fees are:
Free standard valuation
(maximum £525)
Until 31/05/2018: 5% of the
amount repaid;
Until 31/05/2019: 4% of the
amount repaid;
Until 31/05/2020: 3% of the
amount repaid;
Completion fee £0
80%
(excl. fees)
80%
(excl. fees)
3.7%
3.8%
Min
£25,001
Max
£750,000
Non-refundable booking fee £199
• After 31/05/2020 the rate reverts to Standard
Variable Rate for the rest of the term, currently
3.99% variable
• Daily interest
Standard legal fees
• Overpayments below £1,000
85%
(excl. fees)
3.9%
Min
£25,001
Non-refundable booking fee £199
£350 cashback
(Any overpayments made will cause the amount upon
which interest is charged, to be reduced at the month end)
Completion fee £0
Non-refundable booking fee £199
Max
£500,000
Free standard valuation
(maximum £525)
Free standard valuation
(maximum £525)
Fees assisted legals
plus interest to the end of
the month.
These fixed rate mortgages are for a set period of time with a fixed end date. Depending on when the mortgage starts the fixed rate period may be slightly less or more than the period stated.
wbfi.co.uk
Intermediary Support Team
0845 338 7543
[email protected]
Account Manager Contact Details
Account Manager Contact Details
Account Manager Contact Details
Tony Tudor
North
Polly Johal Central
Gareth Tormajer South
[email protected]
07507 634127
[email protected]
07950 149441
[email protected]
07507 634137
Lending criteria
Income multiples
Income > £40,000 – 4.75 x sole applicant
Income < £40,000 – 4.25 x sole applicant
Sole applicant
Income > £40,000 – 3.75 X Joint, 4.75 + 1 x secondary income
Income < £40,000 – 3.25 X Joint, 4.25 + 1 x secondary income
Joint applicant
The above income multiples are subject to an affordability assessment being completed for all mortgage applications. Go to wbfi.co.uk to view our affordability calculator.
Loan details
Lending limits
Minimum term
Maximum term
Maximum LTV
Mortgage age
Repayment methods
5 years
35 years
90% purchases and remortgages
(excluding fees)
All mortgages must be repaid
before the applicant’s 71st birthday
Capital & interest
Interest only (see criteria below)
£750,000 up to 80% LTV
Full lending criteria available
at wbfi.co.uk
purchases and remortgages
(excluding fees)
£500,000 up to 90% LTV
Interest only lending
Available to 50% LTV
Acceptable repayment vehicles
Part and part combined
repayment method permitted to
a maximum LTV of 90%.
• Endowment Policy – The evidenced projected value based on the lower growth rate confirmed must be equal or greater than the proposed loan amount or account exposure.
The interest only element is
available to a maximum LTV
of 50%
• Pension Provision – The evidenced estimated pension tax free lump sum must have a value to equal or greater than the proposed loan amount or account exposure.
• Individual Savings Account – The evidenced projected ISA value must be equal or greater than the proposed loan amount or exposure. The ISA must have been in operation for at least three
months prior to the date of the mortgage application. A maximum term of 35 years is permitted.
• Investment & Savings Plan – The evidenced investment or savings projected value must be equal or greater than the proposed loan amount or account exposure. The plan must have been
in operation for at least three months prior to the date of the mortgage application. A maximum term of 35 years is permitted.
Valuation options
Purchase Price or Valuation of
the property, whichever is higher
£1,000,000 up to 75% LTV
Re-valuation fee = £118.62
Basic Mortgage Valuation
Val Fee
Admin Fee
Further Advance fee = £61.47
Mortgage Valuation & Home Buyers Report
Total Fee
Val Fee
Admin Fee
Total Fee
Re-inspection fee = £61.47
Mortgage Valuation and Building Survey
Val Fee
Admin Fee
Total Fee
£625.00
Up to £100,000
£95.00
£130.00
£225.00
£275.50
£139.50
£415.00
£475.00
£150.00
Up to £200,000
£166.25
£133.75
£300.00
£351.50
£143.50
£495.00
£589.00
£156.00
£745.00
Up to £300,000
£213.75
£136.25
£350.00
£446.50
£148.50
£595.00
£698.25
£161.75
£860.00
Up to £400,000
£304.00
£141.00
£445.00
£541.50
£153.50
£695.00
£788.50
£166.50
£955.00
Up to £500,000
£380.00
£145.00
£525.00
£636.50
£158.50
£795.00
£878.75
£171.25
£1050.00
Up to £600,000
£460.75
£149.25
£610.00
£755.25
£164.75
£920.00
£1011.75
£178.25
£1190.00
Up to £700,000
£517.75
£152.25
£670.00
£855.00
£170.00
£1025.00
£1144.75
£185.25
£1330.00
Up to £800,000
£574.75
£155.25
£730.00
£935.75
£174.25
£1110.00
£1280.90
£189.10
£1470.00
Up to £900,000
£631.75
£158.25
£790.00
£1016.50
£178.50
£1195.00
£1410.75
£199.25
£1610.00
Up to £1,000,000
£688.75
£161.25
£850.00
£1097.25
£182.75
£1280.00
£1543.75
£206.25
£1750.00
Above £1,000,000
0.10%
Max £125
Max £125
+ 0.10%
0.15%
Max £125
Max £125
+ 0.15%
0.175%
Max £125
Max £125
+ 0.175%
wbfi.co.uk
Intermediary Support Team
0845 338 7543
[email protected]
Account Manager Contact Details
Account Manager Contact Details
Account Manager Contact Details
Tony Tudor
North
Polly Johal Central
Gareth Tormajer South
[email protected]
07507 634127
[email protected]
07950 149441
[email protected]
07507 634137
wbfi.co.uk
Head Office: 374 High Street, West Bromwich, West Midlands B70 8LR. www.westbrom.co.uk
Calls and electronic communications may be monitored and/or recorded for your security and may be used for training purposes. Your confidentiality will
be maintained. West Bromwich Building Society - Head Office, 374 High Street, West Bromwich, West Midlands B70 8LR. The West Brom is authorised by the
Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Register No: 104877. ‘the West Brom’
and ‘the West Brom for intermediaries’ are trading names of West Bromwich Building Society.
for intermediaries
A12884-02/15-01