NatWest Intermediary Solutions has cut pricing on it residential fixed rate products, while Santander reduces the rates on its buy to let deals, Accord looks to edge into the first-time landlord and consumer buy to let markets, and Market Harborough introduces a late summer sale.
NatWest Intermediary Solutions has reduced its residential rates between five and 25 basis points on its two-year fixed rate deals, and between six and 24 basis points on its five-year fixed products.
The lender has also reduced its 60% and 70% loan to value (LTV) three-year fixed rate remortgage deals by five basis points. Similarly, its Help to Buy: Mortgage Guarantee Scheme at 95% LTV for a two-year fixed rate mortgage will be cut by ten basis points to 3.81% (4.06% APRC).
Lastly, its standard buy to let two-year fixed rate products for purchase and remortgage have been reduced by up to 23 basis points.
Santander is another lender to bring new reduced buy to let deals to the market this September.
It is offering a 60% LTV, two-year fixed rate buy to let mortgage at 1.94% (4.6% APR), as well as a 75% LTV two-year fixed rate at 2.29% (4.7% APR). Both deals carry a lender arrangement fee of 1% of the loan amount and come with Santander’s Homebuyer Free Valuation for purchase customers, and Remortgage Solution for remortgage customers, which includes a free valuation and £250 cashback.
With the aim to grow its market share, Accord Buy to Let is eyeing the first-time landlord and consumer buy to let markets.
Starting small with a cautious approach, the lender plans to expand into these new markets by either the end of 2016 or early 2017, according to buy to let commercial manager Chris Maggs.
Market Harborough Building Society has launched a summer sale with new rates for mixed use property and investors looking for company buy to let products.
For mixed use properties, it is offering term trackers up to 50% LTV at Bank Rate + 3.24% (3.7% APR) for loans in excess of £500,000, and up to 70% LTV at Bank Rate + 3.49% (4% APR) on loans less than £500,000. Both rates are available for purchases, remortgages and capital raising. A variety of interest only, capital and interest and part and part terms are available.
Its new company buy to let term tracker at Bank Rate + 3.24% (3.7% APR) is available up to 70% LTV. This product is suitable for limited companies, LLPs and onshore trusts (supported by personal guarantees) and comes with both interest only and repayment terms. Like the mixed use product, this tracker is available for purchases, remortgages and capital raising.
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