Good News or Bad News - The Choice is Yours

Posted on 16 December 2008 by Ray Boulger

Bank of Scotland are tomorrow adding to their Large Loan range with the launch of a 3 year fixed rate up to 60% LTV at 5.29% with a 0.25% fee with a maximum loan size of £10m. I think this is the first time any mainstream lender has launched a product with a specified maximum loan in excess of £7.5m. For anything in excess of this the rate and fee has always had to be negotiated with the lender on a case by case basis.

If the consumer press report this launch they have a classic good news, bad news choice of how to present it. Will we see headlines like:

Bank of Scotland increase maximum loan size to £10m

OR

Bank of Scotland launch mortgage with a fee of up to £25,000.

Category: House and home, Mortgages, Property market

Comments

No comments have yet been posted.

Post a comment

Please keep your comments relevant. Charcol reserves the right to edit or delete comments.

The blog postings on this site solely reflect the personal views of the authors and do not neccessarily represent the views, positions, strategies or opinions of Charcol Limited. All comments are made in good faith, and neither Charcol Limited nor Ray Boulger will accept liability for them.

Categories

Archive

Ray Boulger's RSS feed

Your initial consultation is obligation free. There will be a minimum fee for our service of £450, of which £150 is payable when you apply, and we will retain the commission from the lender. Alternatively, you can choose the fee only option which is typically 0.63% of the amount borrowed. The precise amount will depend on your circumstances and loan amount, and will be discussed and agreed before you make an application.

YOUR HOME MAY BE REPOSSESSED IF YOU DO NOT KEEP UP REPAYMENTS ON A MORTGAGE OR ANY DEBT SECURED ON IT

Web design agency - Liquid Light

John Charcol is a trading style of Towergate Financial (West) Ltd which is authorised and regulated by the Financial Services Authority. Registered in England No: 02292688.
Registered office: Towergate House, Eclipse Park, Sittingbourne Road, Maidstone, Kent ME14 3EN.
This site is only directed at persons within the UK. Calls may be recorded for training and monitoring. Max call charge from a BT landline is 3.9p per minute. Calls from other networks may vary.