New products from Axis Bank  - 08/05/2017 21:46
Axis Bank has reduced rates on some of their fixed rate products and launched selected Limited Edition products at 65% loan to value. 

Their two year products remain unchanged, however, a 65% limited edition Specialist range product has been added to the range. Their 3 year products, both Standard & Specialist, have been reduced in price by 11 basis points. Their 5 year products have been reduced by 27 basis points and a new 65% limited edition Specialist product has been added to the range.

As a reminder, SPV applications qualify for the Standard Range pricing on straightforward “vanilla” properties.

Applications only fall within the Specialist range, whether an individual or SPV application, where at least one of the following points apply:

  • HMO Property;
  • Multi-Unit Freehold;
  • Holiday Let;
  • Ex-Pat Applicant;
  • Student Lets/Multi Lets.
Key Product Features
  • Product Range is available for purchase & re-mortgage excluding L4L products that are only available for re-mortgages
  • All products, where an ERC applies, are permitted to pay 10% off the capital per annum without penalty.
  • Five year products stressed at pay rate;
  • Five year product range has no ERC in fourth or fifth year;
  • Arrangement fees can be added to the loan;
  • Product reversion rates linked to LIBOR which is reset quarterly
  • 65% Limited Edition products subject to a minimum loan size of £250k
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