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Product history 2012

Date of product change

Summary of changes

Monday 3 December 

 

Deadlines

 

Clickdecision and kfis
5pm Friday 30 November


Applications
5pm Friday 30 November

Product changes

Mainstream

Arrangement fee reduced on selected 2 and 5 Year Fixed Rates

2, 3 and 5 Year Fixed rates reduced at 60%, 70%, 75% and 80% LTV

2 and 3 Year Fixed rates increased at 85% LTV

Tuesday 30 October

 

Deadlines

 

Clickdecision and kfis
5pm Monday 29 October


Applications
5pm Monday 29 October

Product changes

Mainstream

2 Year Fixed rates reduced by up to 0.50%
5 Year Fixed rate fee option introduced and existing rates reduced by up to 0.16%
3 Year Fixed rates introduced
2 Year Tracker rates reduced by up to 0.16%
All fixed rate end dates extended until 31 January
Updated product codes

Monday 8 October

 

Deadlines

 

Clickdecision and kfis
5pm Friday 5 October


Applications
5pm Friday 5 October

 

Product changes

Mainstream

Withdrawal of Openwork and L&G Exclusives M107 & M108

2 year fixed rates reduced by up to 0.30%, introducing a free first mortgage valuation on house purchase applications

5 year fixed rates reduced by up to 0.15%, introducing a free first mortgage valuation on house purchase applications

2 year tracker rates reduced by up to 0.39%

New product codes issued for all products

 

Buy to Let

Fixed and Tracker rates increased by 0.40% to 0.50%

New product codes issued for all products

Monday 24 September

 

Deadlines

 

Clickdecision and kfis
5pm Friday 21 September


Applications
5pm Friday 21 September

 

Mainstream
5 year fixed rates launched from 3.45%
2 year fixed rate launched from 3.09%
Reduced rates on 2 year fixed
New product codes will be issued

 

Buy to Let
No changes to product rates
New product codes will be issued

 

Tuesday 28 August

 

Deadlines

 

Clickdecisions and kfis:

5pm Friday 24 August

 

Applications:

5pm Friday 24 August

 

General

 

All fixed rate end dates extended to 31 December
Administration fee increased from £89 to £90
Updated valuation fee scale applicable to new applications
New product codes issued for all products

Thursday 21 June

 

Deadlines

 

Clickdecisions and kfis:

5pm Thursday 21 June

 

Applications:

5pm Friday 22 June

 

Buy to Let

 

2 year tracker B233 withdrawn
2 year tracker B240 withdrawn
2 year tracker L17 withdrawn

Friday 8 June

 

Deadlines

 

Clickdecisions and kfis:

5pm Friday 8 June

 

Applications:

5pm Friday 8 June

 

Buy to Let

 

2 year fixed B226 withdrawn

2 year fixed B227 withdrawn

2 year fixed B229 withdrawn

1 year tracker B231 withdrawn

2 year tracker B238 withdrawn

1 year tracker L16 withdrawn

Tuesday 22 May

 

Deadlines

 

Clickdecisions and kfis:

5pm Monday 21 May

 

Applications:

5pm Monday 21 May

Buy to Let

 

2 year tracker B232 & B234 reduced by 0.20%

2 year tracker B235 reduced by up to 0.40%

Wednesday 2 May

 

Deadlines

Clickdecision and kfis:

5pm Friday 4 May

 

Applications:

5pm Friday 4 May

 

Interest only offers

All Mainstream and Almost Prime applications on interest only must be offered by Friday 3 August. Applications will have 90 days from date of offer to complete.  

Mainstream and Almost Prime – withdrawal of interest only

 

We are receiving low volumes of Mainstream and Almost Prime interest only applications, with the majority of our lending focused on Buy to Let. Looking forward we also believe that demand for interest only loans will continue to fall.  

With this in mind, the cost of changes that we would want to make in order to comply with future regulations and meet our own high standards as a responsible lender cannot be justified.

Therefore we have taken the decision to withdraw interest only lending for new residential lending and additional borrowing on residential interest only loans.

Interest only will remain a key repayment option for Buy to Let business.

 

General

All products to be re-launched with new product codes

 

Buy to Let changes

2 year tracker B232 to be reduced by 0.10% up to 65% LTV, and increased by 0.20% at 75% LTV (2.5% fee)

 

2 year tracker B233 to be reduced by 0.10% at all LTVs (£2,450 fee)

 

2 year fixed B229 to be reduced by 0.10% up to 60% LTV and 0.20% up to 65% LTV (£0 fee)

 

2 year fixed L14 Let to Buy product replaced with new rates and a 2.5% arrangement fee

 

Monday 23 April 2012

 

Deadlines

Clickdecision and kfis:

5pm Friday 20 April

Applications:

5pm Friday 20 April

 

All fixed rate end dates extended until 31 July

 

New product codes issued for all fixed rate products. 

Tuesday 20 March 2012

 

Deadlines

Clickdecision and kfis:

5pm Tuesday 20 March

Applications:

5pm Thursday 22 March

 

Buy to Let

Exclusive 2 year fixed B205 withdrawn

Exclusive 2 year tracker B206 withdrawn
2 year fixed B202 increased by 0.10%
2 year fixed B200 & L9 increased by 0.20% at 70% & 75% LTV
2 year fixed with 1% cashback launched
Options 2 year tracker B192 & 3 year tracker B193 withdrawn
1 year tracker B186 & L6 increased by 0.20%
2 year tracker L10 increased 0.40% at 60% LTV and 0.20% up to 75% LTV
2 year tracker with 2.5% fee launched
2 year tracker with £2,450 fee launched
All Premier products withdrawn and replaced with products with £2,450 arrangement fee

 

Mainstream
2 year fixed M78 increased by 0.40%

 

All other products remain unchanged. New product codes will be issued for all products.

Friday 9 March 2012

 

Deadlines

Clickdecision and kfis:

5pm Friday 9 March

Applications:

5pm Tuesday 13 March

 

Buy to Let

 

2 year fixed B201 withdrawn
2 year tracker B203 withdrawn
2 year tracker B204 withdrawn

Wednesday 15 February 2012

 

Deadlines

Clickdecision and kfis:

5pm Wednesday 15 February

Applications:

5pm Wednesday 15 February

 

Buy to Let

All 2 year fixed rates reduced by 0.20%

 

Mainstream

2 year tracker M82 withdrawn

 

All other products remain unchanged.

Friday 3 February 2012

 

Deadlines

Clickdecision and kfis:

5pm Friday 3 February

Applications:

5pm Friday 3 February

 

Mainstream

2 year tracker M79 withdrawn

2 year tracker M80 withdrawn

Options 1 year tracker M81 withdrawn

Friday 20 January 2012

 

Deadlines

Clickdecision and kfis:

5pm Friday 20 January

Applications:

5pm Friday 20 January

 

Buy to Let minimum income
We will only accept Buy to Let applications where at least one applicant earns a minimum of £25,000.
 

Buy to Let portfolio exposure
We will accept a maximum portfolio exposure of 3 Buy to Let properties totalling £1.5m. If the customer also has their main residential mortgage with the Co-operative group, total exposure including this residential loan must not exceed £2m.

 

Buy to Let

All tracker rates increased
All fixed rates remain unchanged
All fixed rate end dates extended to 30 April

 

Mainstream

All tracker rates increased
Options 2 year tracker M75 withdrawn
All fixed rates remain unchanged
All fixed rate end dates extended to 30 April

 

Almost Prime

All rate remain unchanged
All fixed rate end dates extended to 30 April

 

Friday 13 January 2012

 

Deadlines

Clickdecision and kfis:

5pm Friday 13 January

Applications:

5pm Friday 13 January

 

Mainstream

2 year tracker M72 withdrawn

2 year tracker M76 withdrawn

 

 

 

 



 

 

 

 

 

 

 

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Product history 2013 >

 

Product history 2011 >