Santander has refreshed its mortgage offering and will launch a new range of buy to let remortgages on 26 April, while Mortgage Trust has released three new limited-edition buy to let products, at what it says are its ‘lowest ever rates’.
Santander’s new buy to let remortgage range includes a two-year fixed rate, 60% loan-to-value (LTV) product at a rate of 2.29%(4.4% APR). The product has no fee, free standard valuation and £250 cashback on completion.
The new range also includes a rate of 2.45% for a five-year fixed remortgage at 60% LTV. This loan carries a £1,999 product fee, free standard valuation and £250 on completion.
The lender’s 75% LTV two-year fixed rate product is available at 2.59% (with no product fee, free standard valuation and £250 cashback on completion), while its five-year fixed rate loan at 75% LTV comes at a rate of 3.04%(4.5%APR) and carries a product fee of £1,999, free standard valuation and £250 cashback on completion.
Santander is also targeting first-time buyers with three new fixed rate mortgages. Soon to be launched is a two-year fixed rate 60% LTV mortgage at 1.59%, a five-year fixed rate 75% LTV mortgage at 2.29% and a five-year fixed rate 85% LTV mortgage at 2.59%. All products are product fee-free and come with £250 cashback on completion.
Refreshing its residential mortgage range, the lender has also introduced a five-year fixed at 2.49% and 80% LTV and has cut several of its other residential rates by as much as 0.4%.
Mortgage Trust’s new limited edition buy to let products are available at the lender’s ‘lowest ever rates’.
Its two-year fixed rate products are on offer at 1.95%(4.9% APR) and 2.05%(4.8% APR) for buy to let property purchases and remortgages.
While those borrowers with a 25% deposit can access a two-year fixed rate mortgage at 1.95%. Product fees start from £495 and each of the limited edition loans includes a free valuation.
Buy to let specialist, Paragon Mortgages, will now pay retention procuration fees to brokers on all of its switch products.
In recognition of the work intermediaries do to deliver good outcomes for existing buy-to-let customers, the lender will pay a fee of 0.25%, where a broker acts on behalf of the customer during a product switch process.
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