Aldermore and Skipton cut rates on buy to let and new build mortgages
Aldermore and Skipton reduce the rates on their buy to let and new build mortgage deals, while Newcastle Intermediaries brings ten new mortgage products to the market.
Aldermore has cut its two-year buy-to-let mortgage rates for individuals.
The lender is now advertising rates from 3.48%(4% APR) for a 75% loan-to-value (LTV) mortgage, with a 2.5% product fee.
Other deals include an 80% LTV buy to let mortgage at 3.88%(4.5% APR) with a 2.5% fee, a 75% LTV mortgage at 3.98% with a £1,999 fee and a 80% LTV mortgage at 4.38% with a fee of £1,999.
Aldermore is also offering mortgages at 4.48% to 75% LTV and 4.88% to 80% LTV. Both deals carry a £199 application fee but no product fee.
Charles Haresnape, group managing director, mortgages, at Aldermore, said:
“The latest data from the CML, for November, saw the highest level of gross buy-to-let lending since the changes to stamp duty in April, and our new products for private individuals reaffirm our commitment to supporting the UK’s landlords.
“With persistent supply pressures, the UK’s private rental sector continues to play an increasingly important role in the housing market.
“While much has been made of the recent changes to buy-to-let, the majority of landlords see buy-to-let property as a long term investment, and we can expect to see robust growth in the sector during the rest of the year.”
Skipton Building Society has slashed its rates on new build mortgages by up to 0.84%.
The lender’s product range now includes a 90% LTV two-year fixed rate mortgage at 2.35%(4.5% APRC) with no fee and a 2.75%(4.5% APRC) deal with a completion fee of £995. A 90% LTV five-year fixed mortgage is also available at 3.15%(4.3% APRC) with no fee and at 2.95%(4.2% APRC) with a £995 completion fee.
As for its core range, Skipton’s 90% LTV two-year fixed mortgage for house purchase now comes in at 2.56%(4.5% APRC) fee free or at a rate of 2.13%(4.5% APRC) with a £995 completion fee.
The lender is also offering a two-year fixed rate mortgage at 2.58%(4.2% APRC) with no fee and a 2.09%(3.8% APRC) deal with a completion fee of £995, both with upfront valuations and standard legal fees.
Newcastle Intermediaries has launched a new range of ten mortgage products, which includes remortgage exclusives.
The remortgage products include a 1.79%(5.2% APRC) rate up to 60% LTV and a rate of 1.83%(5.2% APRC) up to 70% LTV.
Both deals are fee free and include a free standard valuation up to £500,000 and free legal fees. These rates are also available for house purchase.
Newcastle is also offering a ten-year fixed rate loan at 2.86%(3.9% APRC), up to 80% LTV, with fees of £999, as well as a two-year fixed mortgage at 3.24%(5.6% APRC) up to 95% LTV.
Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries said:
“We’ve reassessed our entire mortgage range and have introduced products that are even more relevant to the marketplace.
“We feel it’s important to offer products across the LTV range, while catering to the individual needs of borrowers by offering fees assisted alternatives where they may need to free up cash during the move.”
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19th January 2017
