Giraffe launches new products and refreshes rates

Mortgage lender Giraffe has enhanced its range by adding new buy-to-let and self-certification products and adjusting its standard rates.

The lender has introduced a self-cert offer with a rate of 4.79 per cent, which it states is a 1.8 per cent discount off its standard variable rate (SVR), until July 31st 2008.

Following this date the package, which is available for loan amounts between £25,001 and £500,000, will revert to the SVR of 6.59 per cent for the remainder of the mortgage term.

This product is available at up to 85 per cent loan to value (LTV), has early repayment charges (ERCs) of two per cent of the amount repaid, a £299 arrangement fee and no higher lending charge (HLC).

A new buy-to-let offer was also launched, with a fixed rate of 5.55 per cent until July 31st 2010, before reverting to the lender’s SVR, a £599 arrangement fee and a maximum LTV level of 85 per cent.

This package has no HLC, but does include ERCs of five per cent of the repaid sum in the offer period, and is available for a minimum loan size of £15,001 for purchases, £25,001 for remortgages with a maximum loan amount of £400,000 per property.

Giraffe’s standard three-year discount rates were adjusted to 4.25 and 4.49 per cent for LTVs of 95 and 85 per cent respectively and both have ERCs of three per cent.