Commercial Mortgage Update May/June 2008
Development Finance
Up to 70% of site cost and 100% of construction available from 2% + LIBOR (Currently 6.65% - 3 month) or Bank Base (Currently 5.00%).
Commercial Owner Occupied
Up to 85% available - Variable from 1.25% + LIBOR or Bank Base – Fixed rates also available.
SIPP Mortgages
Split purchases available up to 80% LTV. 50% lent on scheme assets + up to 80% of remaining value directly to individual or limited company.


 
Residential Mortgage Update May/June 2008 - Bank Base Rate Reduced to 5.00%
Fixed Rates .
5.59% Fixed to 31/07/2018 - £995 arrangement fee - free valuation and £200 cashback - remortgages. LTV up to 60%

5.74% Fixed to 30/06/2010 - 2% arrangement fee - no extended tie-in - LTV up to 75%

5.85% Fixed to 31/08/2011 - £995 arrangement fee - free valuation - LTV up to 75%

6.04% Fixed to 30/06/2010 - £999 arrangement fee - up to 90% LTV - no extended tie-in
Discounted/Tracker/First Time Buyers/Lifetime Mortgages
5.99% - 2 Year tracker - 2% arrangement fee - no early redemption penalties - LTV up to 75%

6.02% 2 Year tracker - £999 booking fee - up to 75% LTV

6.45% Lifetime Tracker - BBR + 1.45% - £800 arrangement fee - LTV up to 90%

Lifetime Mortgages from 6.59% Fixed for life - Minimum age 60 - No monthly repayments
Buy to Let
6.14% Fixed to 31/07/2013 - 2.5% arrangement fee - LTV up to 75% - Rental income 120% of monthly payments.

6.24% Tracker/Discount - 3 years - 2.5% arrangement fee - LTV up to 75% - Rental income 125% of monthly payments

6.95% 5 Year Fixed to 31/07/2013 - £799 arrangement fee - LTV up to 75% - Rental income 100% of monthly payments
For further information contact: Paula Smith – Mortgage Adviser
This bulletin is not intended to form an advertisement under the terms of the Consumer Credit Act and therefore must not be shown to the public. Your home is at risk if you do not keep up repayments on a mortgage or other loan secured on it. The provision of commercial mortgages is not covered/regulated by the Financial Services Authority and therefore the Investor Compensation Scheme does not apply. Whilst all due care has been taken in ensuring the above information is correct at time of printing, Blacktower Financial Management cannot accept liability as to its accuracy
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