RBS IP changes product range
The products will be exclusive to intermediaries and will be available under its RBS and First Active brands.
These limited edition products are offering particularly attractive initial rates and will be appeal to intermediaries’ clients who require higher value mortgages.
Three products are being launched under the RBS brand for house purchases. They are a two-year tracker with an initial rate of 4.39 per cent, a two-year fixed rate at 4.49 per cent and a three-year fixed rate at 4.84 per cent.
Under the First Active brand, a three-year fixed rate remortgage at 4.84 per cent is also being launched.
David Jones commented: “At RBS Intermediary Partners we are committed to providing brokers with great value products. These are the first new products to be introduced to our portfolios since RBS Intermediary Partners was launched and hopefully demonstrates that we respond well to the market conditions intermediaries face.”
RBS product details:
– Two-year tracker at 4.39 per cent until 31 May 2008. Arrangement fee of £699. Maximum loan-to-value (LTV) 75 per cent. Minimum loan £25k. APR of 6.4 per cent
– Two-year fixed at 4.49 per cent until 31 May 2008. Arrangement fee of £699. Maximum LTV of 75 per cent. Minimum loan £25k. APR of 6.4 per cent.
– Three-year fixed at 4.84 per cent until 31 May 2009. Arrangement fee of £499. Maximum LTV of 75 per cent. Minimum loan £25k. APR of 6.4 per cent.
First Active product details:
– Three-year fixed at 4.84 per cent until 31 May 2008. Arrangement fee of £499. Maximum LTV of 95 per cent. Minimum loan of £10k. APR of 5.6 per cent.