New Year – New mortgage range from The Cambridge
Following a hugely successful 2012, The Cambridge Building Society is starting the New Year by refreshing its entire residential mortgage range, including a reduction in rates of up to 0.70%.
During 2012, The Cambridge worked closely with Intermediaries to launch several new products exclusively aimed at its key network partners. This latest product range refresh will be available to the whole of market, both direct and through Intermediaries and is backed up by The Cambridge’s proven approach to flexibility and service.
The refresh will come into effect on January 7th, 2013 and will be available to all mortgage Intermediaries who wish to do business in the wider East Anglia area.
Some of the key changes include:
Andy Lucas, Commercial Director at The Cambridge says: “2012 was a record year for The Cambridge, with our strong funding and aspects like our continued commitment to First Time Buyers resulting in mortgage business at an all time high. We received great support from many brokers across our region and we want to continue this into 2013 as we look at further product development and innovation.”
Intermediaries can register, submit and complete AIP’s and full applications, generate KFI’s, and obtain current product and mortgage rate information via Cambridge Mortgage Master (CMM). The Society has also developed a new website which is dedicated to Intermediaries. All of the latest information on products, lending criteria and general information about the Society can be found at www.cambridgebs.co.uk/intermediaries.
The Society now also uses the MATS system which is designed to make the processing of mortgage applications smoother and enables Intermediaries to receive updates on their cases via text message, email and personalised web pages.
The range now includes the following products:
|
Product / Criteria |
75% |
80% |
85% |
90% |
Application Fee |
Completion Fee |
Max Loan |
Free Standard Valuation/Legals |
|
|
Core (remo/purchase) |
|||||||||
|
2 Year Fixed Rate |
2.99% |
3.19% |
3.79% |
4.49% |
£199 |
£800 |
£500k to 80% £400k to 85% |
No |
|
|
5 Year Fixed Rate |
3.49% |
3.69% |
4.29% |
4.99% |
£199 |
£800 |
£500k to 80% £400k to 85% |
No |
|
|
2 Year Discounted Rate |
2.94% |
3.14% |
3.74% |
4.44% |
£199 |
£800 |
£500k to 80% £400k to 85% |
No |
|
|
The Cambridge Variable Mortgage |
4.99% |
4.99% |
4.99% |
4.99% |
£199 |
£600 |
£1 million to 75% £500k to 80% |
Remo only |
|
|
Purchase £50k and below |
£99 |
£200 |
£50k |
||||||
|
Fee Free Remortgage |
75% |
80% |
85% |
90% |
Application/ Booking Fee |
|
Max Loan |
Free Standard Valuation/Legals |
|
|
2 Year Fixed |
3.39% |
3.49% |
4.09% |
4.79% |
£0 |
£0 |
£500k to 80% £400k to 85% |
Yes |
|
|
5 Year Fixed |
3.89% |
3.99% |
4.59% |
5.29% |
£0 |
£0 |
£500k to 80% £400k to 85% |
Yes |
|
