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
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