We’re changing our rates
Following the recent Bank of England Rate change Norton Home Loans have undertaken a review of our 1st & 2nd Charge Lending Rates, and with effect from 01.03.2023 there will be a 0.5% increase on all our Fixed Rate Lending Plans and a 0.75% increase on all our Variable Rate Lending Plans.
What do I need to do?
1. If you have produced a Mortgage Offer then you do not need to do anything further. We will notify any customers who are affected by the variable rate change. Any fixed rates will remain the same until the offer expires, after which the deal will need to be resold on the new products.
2. If you have a valid Mortgage illustration (ESIS) dated before 01/03/2023 but have not received an offer we will honour the rate on the ESIS, providing a Binding Offer is issued by close of business 14/03//2023.
3. If an offer has not been issued by 14/03/2023 then this will need to be regenerated to reflect the increase in interest rate. Please ensure your customer is aware of this and receives a copy of the revised Illustration ASAP.