2 year Fixed rate at 85% LTV

• Homebuyer, 4.89% with a £995 fee
• Remortgage, 5.09% with a £995 fee
• Homebuyer Plus, 4.89% with a £995 fee

3 year Fixed rate at 85% LTV

• Homebuyer, 4.99% with a £995 fee
• Remortgage, 5.19% with a £995 fee
• Homebuyer, 5.34% with no fee

3 year Fixed rate Loyalty products at 85% LTV

• Homebuyer, 5.24% with no fee

2 year Tracker at 85% LTV

• Homebuyer, 4.59% (BBR + 4.09%) with a £995 fee
• Homebuyer, 5.09% (BBR + 4.59%) with no fee
• Homebuyer Plus, 4.59% (BBR + 4.09%) with a £995 fee

They are also amending the fee on selected 2 year products at 90% LTV:

• 2 year Fixed rate, Homebuyer, 5.99% with a £995 fee
• 2 year Tracker, Homebuyer, 5.69% (BBR + 5.19%) with a £995 fee

For further details of these products please contact our new business department on 01442 215 527

**For intermediary use only, not for consumer use**

For further details of these products please contact our new business department on 01442 215 527

**For intermediary use only, not for consumer use**

They have confirmed that there are reductions to both the tracker rate and the application fee on ‘Future Fix’ making the product an even more attractive option for clients looking to benefit from the current base rate whilst at the same time having the security of a 3 year fixed rate to follow on too. 

With the news that Halifax are increasing their SVR rates for up to 1m people this is a great proposition to help these clients.

A summary of the changes are below:-
FUTURE FIX:

2 Year Tracker, BBBR +2.79%, £999 fee, 70% LTV, followed by 3 Year Fixed Rate 4.29%, follow on rate BBBR + 3.39%.

Please note: This product does not have a switch & Fix option.

FIXED RATES:

Mass Affluent.
2 Year, 2.99%, £2,499 fee, 60% LTV, min loan £250k, max £2m, follow on rate BBBR + 3.39%.

What is being withdrawn?

FUTURE FIX:

2 Year Tracker, BBBR +2.99%, £1299 fee, 70% LTV, followed by 3 Year Fixed Rate 4.29%, follow on rate BBBR + 3.39%.

FIXED RATES:

Loyalty Mortgage.
2 Year, 3.09%, £499 fee, 60% LTV, followed on rate BBBR + 3.39%.

Core.
2 Year, 3.09%, £999 fee, 60% LTV, follow on rate BBBR + 3.39%.
2 Year, 3.39%, £199 fee, 60% LTV, follow on rate BBBR + 3.39%.

For further details of these products please contact our new business department on 01442 215 527

**For intermediary use only, not for consumer use**

Let to Buy available up to 75% LTV
  2 year tracker L10 – 4.29% (BBR** + 3.79%)

Buy to Let available up to 75% LTV
  2 year fixed B202 – 4.79%
  2 year tracker B203 – 4.09% (BBR** + 3.59%) 2.5% arrangement fee
  2 year tracker B204 – 4.19% (BBR** + 3.69%) £2,450 arrangement fee

In order to discuss these products further, please contact our new business team on 01442 215 527.

**This information is for the use of professional mortgage advisers only. It is not intended to be used by the general public**

In the United Kingdom, the underlying pace of recovery slowed during 2011, with activity falling slightly during the final quarter. Some recent business surveys have painted a more positive picture and asset prices have risen. But the pace of expansion in the United Kingdom’s main export markets has also slowed and concerns remain about the indebtedness and competitiveness of some euro-area countries. A gradual strengthening of output growth later this year should be supported by a gentle recovery in household real incomes as inflation falls, together with the continued stimulus from monetary policy. But the drag from tight credit conditions and the fiscal consolidation together present a headwind. The correspondingly weak outlook for near-term output growth means that a significant margin of economic slack is likely to persist.

CPI inflation has fallen back from its September peak, declining to 4.2% in December. Inflation should continue to fall sharply in the near term, as the increase in VAT in January 2011 drops out of the twelve-month comparison. Inflation is then likely to decline further as the contribution of energy and import prices diminishes, while downward pressure from unemployment and spare capacity continues to restrain domestically generated inflation.

In the light of its most recent economic projections, the Committee judged that the weak near-term growth outlook and associated downward pressure from economic slack meant that, without further monetary stimulus, it was more likely than not that inflation would undershoot the 2% target in the medium term. The Committee therefore voted to increase the size of its programme of asset purchases, financed by the issuance of central bank reserves, by £50 billion to a total of £325 billion. The Committee also voted to maintain Bank Rate at 0.5%. The Committee expects the announced programme of asset purchases to take three months to complete. The scale of the programme will be kept under review.

The Committee’s latest inflation and output projections will appear in the Inflation Report to be published at 10.30am on Wednesday 15 February.

The minutes of the meeting will be published at 9.30am on Wednesday 22 February.

Note to Editors

The previous change in Bank Rate was a reduction of 0.5 percentage points to 0.5% on 5 March 2009. A programme of asset purchases financed by the issuance of central bank reserves was initiated on 5 March 2009. The previous change in the size of that programme was an increase of £75 billion to a total of £275 billion on 6 October 2011.

The event, which last year attracted over 900 brokers, 73 commercial exhibitors and saw several millions of pounds of commercial lending introduced, will be held on the 27th June at the NEC, Birmingham.

Started just three years ago, the occasion has quickly become the number one event for the commercial finance industry and has been nominated for an award in celebration of its success.

The response to the first ever event was phenomenal and with many exhibitors registering at last year’s event for 2012, it looks set to become an even bigger event in 2012 and an essential date for the commercial broker’s diary.

The Expo’s year-on-year growth underlines the commercial finance industry’s comeback in recent years, something the NACFB is thrilled to be a part of.

Adam Tyler, CEO of the NACFB, commented: “We truly believe our Expo is the premium event for the commercial finance industry, with over 90 per cent of our exhibitors being lenders. The atmosphere is always incredible and no doubt it will be even more so this year, with the Association celebrating its 20th anniversary.

“With a massive range of active funders attending the event, many with underwriters present and great advice from industry experts at the seminars throughout the day, what other event is there that truly represents commercial finance under one roof?”

Article courtesy of www.bridgingandcommercial.co.uk

At 3.99% which was only available direct to customers, it was widely marketed as the lowest ever 10-year fix to come to market.

The society says that unprecedented demand means the product will no longer be available from today in order to manage service levels.

Richard Barker, product manager at Norwich & Peterborough, says: “We were confident it was the right time to offer a 10-year fixed rate mortgage and have been proved correct that there is high demand for longer-term fixed deals, especially with incentives such as low fees and cashback.

“In order to maintain our high standards of customer service, we have reluctantly taken the decision to withdraw the product but, in the face of such interest from borrowers, hope to be able to return with a similarly competitive product in the future.”

The product launched on January 25 and was available up to 75% loan-to-value with a fee of £295. Borrowers also received a free valuation and either free legals or a £200 cashback option.

The supermarket giant was due to enter the mortgage market in 2011, but announced in October 2011 that it was postponing its launch until early 2012.

When asked about its launch in an interview with The Times today, Benny Higgins, chief executive of Tesco Bank, told the paper: “We would expect to launch in the next couple of months.”

He also claimed the bank has a good relationship with the Financial Services Authority and its delay into the market was not because of issues with the regulator.

Tesco has not yet confirmed whether the bank will offer its product through brokers.

Higgins also revealed in the interview that the bank is delaying its launch into current accounts until 2013.

It had intended to launch the products this year, but waiting until 2013 will allow it to take advantage of new rules making it easier for current account customers to switch providers.

A spokeswoman for the banks says it is taking a cautious approach to its current account offering, following glitches in its IT system for loans and savings products last year.

The new products launched today compliment the core bridging and refurbishment range, including the newly launched first charge FSA regulated loans, already on offer through the intermediary only lender.

Alan Cleary, Managing Director of Precise Mortgages, quoted: “The expansion of the bridging product range is designed to increase lending volumes and to help brokers place more deals. The bridging market is growing and brokers need more product choice.”

The Precise Mortgages bridging product range is arguably the most comprehensive in the market and includes standard bridging, refurbishment, FSA regulated, Buy-to-Let, and now non-CCA regulated second charge products.

For further information contact the new business team at Charleston Financial on 0800 612 3167

The move brings the cost of the average home to around £160,907, some 1.8 per cent lower than the same time last year, the lender’s house price index shows.

Housing economist Martin Ellis said that the average UK house price is very close to where it was eight months ago.

The continuing low level of interest rates has helped to support housing demand, resulting in little overall movement in house prices since last spring, he added.

“Prospects for house prices over the coming months will, to a large extent, depend on events in the Eurozone and the repercussions of developments there for the UK economy,” Mr Ellis said.

“If the UK can avoid a prolonged recession, we expect broad stability in house prices in 2012.”

Dr Howard Archer, chief UK and European economist at Global Insight, said the Halifax report only suggests that property prices are unlikely to fall sharply.

“We are sticking to our view that house prices are likely to fall by around five per cent in 2012,” he said.

Tracy Kellett, managing director BDI Home Finders, said that the quarterly price drop of 0.9 per cent was a more accurate description of where the market is at than January’s 0.6 per cent rise.

She said: “Buyers remain deeply cautious, while sellers won’t sell unless they really have to. Recreational home moving is almost a thing of the past.”