Pink launches reduced valuation and app fee deal

Ramesh Sharma

January 14, 2006

Pink has teamed up with First National, part of GE Money Home Lending, to launch an exclusive deal. Through this partnership Pink already offers rates starting from 4.64 per cent, now up to 31 March 2006 customers will get a reduced, combined valuation and application fee of £99 across Pink’s entire First National-packaged product range.

Broker feedback has revealed first-time buyer and ultralight adverse products are particularly popular due to the added features that the affordability calculator and dedicated KFI offer.

Dev Malle, sales director at Pink Home Loans, said: “Pink consistently looks at ways of helping the end customer as well as the intermediary and we are pleased to offer this exclusive offer in conjunction with First National. Being able to add the arrangement fee and the higher lending charge fees to the loan have been particularly beneficial to first-time buyers as they can borrow up to 95 per cent of the purchase price without having to find additional funds to cover associated fees. Needless to say intermediaries can be paid in 24 hours from completion.”

Phil Moynihan, national account manager at GE Money Home Lending, commented: “Consumers, especially first-time buyers, are always looking for added value. This kind of deal gives brokers an edge in attracting those customers in a competitive market.”

Tom O’Neill, chief operating officer at Fuel Investments, said: “The deal with First National offers a number of selling points including a very low flat valuation fee. I am sure intermediaries will find their clients will benefit enormously from the various product features and pricing.”

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