24 February 2010
Following a review of our portfolio, we are updating the following products and rates from Wednesday 24 February.
Details of the reduced rates are as follows:
Purchase
| Product name |
Initial rate |
Initial period |
Product / Arrangement Fee |
LTV |
Min Loan |
APR |
| 2 Year Fixed |
3.55% |
31/03/2012 |
£999 |
70% |
£25k |
4.2% |
Early repayment charges apply. Interest rate reverts to SVR after the fixed rate period, currently 4.00%.
Details of the withdrawn product are as follows:
Remortgage
| Product name |
Initial rate |
Initial period |
Product / Arrangement Fee |
LTV |
Min Loan |
APR |
| 2 Year Fixed |
4.39% |
31/03/2012 |
£499 |
75% |
£25k |
4.2% |
Early repayment charges apply. Interest rate reverts to SVR after the fixed rate period, currently 4.00%.
Details of the new products are as follows:
| Product name |
Initial rate |
Initial period |
Product / Arrangement Fee |
LTV |
Min Loan |
APR |
| 2 Year Fixed Remortgage |
3.65% |
31/03/2012 |
£999 |
70% |
£25k |
4.% |
Early repayment charges apply. Interest rate reverts to SVR after the fixed rate period, currently 4.00%.
| Product name |
Initial rate |
Initial period |
Product / Arrangement Fee |
LTV |
Min Loan |
APR |
| 2 Year Tracker But to Let Purchase |
4.99% |
31/03/2012 |
£1999 |
70% |
£15k |
5% |
Early repayment charges apply. Interest rate reverts to SVR after the fixed rate period, currently 4.00%.
Transitional Arrangements
You'll be able to produce KFIs and submit applications online for existing deals up to midnight on Tuesday 23 February 2010. The supporting documentation for online applications on these products must be received in our Mortgage Centre in Birmingham by close of business on Monday 8 March.
If you want to withdraw a current mortgage application, the full product fee for that product will apply unless we decline to make your client an offer. If selecting an alternative product from our range, the new product fee will be applicable as usual.
When submitting cases online, if the application status on your Case Tracking screen shows as ‘submitted’, that means we’ve received the application and you will have secured that rate for your client.
Missing Information Process
Cases received before Wednesday 24 February with missing information will be identified by the Broker Support Team, who will contact the broker to obtain this. If missing information cannot be completed on the same day, the case does not qualify for the expired deal.
If you are unable to submit an application electronically, strictly for one of the reasons listed below, please email the details of the case to The Broker Support Team on rbs.intermediary.partners@rbs.co.uk and the application will be entered onto the exceptions log.
The exceptions log can only be used when you need to submit a paper application for one of the following reasons:
- Online application form restrictions (i.e. More than 2 applicants, foreign nationals, guarantor)
- Technical issue with submitting online which cannot be resolved over the phone (i.e. reset CWS password, check correct registration of all eCMS's)
If you have any questions on this or any other queries, please contact us on 08459 00 11 10 we're open 9am to 5.30pm, Monday to Friday.
