New Street Mortgages, Accord Buy to Let and Barclays refresh their buy to let mortgage offerings, while Atom Bank launches residential loans at 80% and 85% loan-to-value (LTV).
New Street Mortgages has revived its buy to let range, and is now offering 65% LTV mortgage deals which it says beat anything that is available from the high street.
The lender’s two-year discounts now stand at 1.59%(4.7%APR) to 65% LTV and 1.94%(4.7%APR) to 75% LTV and its two-year fixed rate has been cut to 1.69%(4.7%APR) from 1.99% up to 65% LTV.
As for its let-to-buy products, New Street has also made reductions of 0.50% and is offering a one-year fixed rate at 2.39%(4.8%APR) up to 65% LTV.
Accord Buy to Let has cut its rates on a select range of lower LTV mortgages by up to 0.20% and has expanded its range of 65% LTV products.
The lender is now offering two-year fixed rates from 1.99%(5.5% APR) for buy to let borrowers with a 35% deposit, as well as a two-year fixed rate of 2.04%(5.5%APR) for those with a 25% deposit.
Both options carry a product fee of £1,995 and are available to landlords looking to remortgage or grow their portfolios.
Other deals newly launched by Accord include 65% LTV loans at 2.54%(5.5% APR) for a two-year fix with a £450 product fee. Those buying a new property are offered £500 cashback on completion. Remortgaging landlords can choose from either free standard valuation and £300 cashback on completion, or free standard valuation and legal fees.
Barclays is another lender to review its buy to let deals.
Now available from the bank is a range of fee-free deals, highlights of which include a 2.35% five-year fix at 75% LTV; a 3.59% five-year fix at 75% LTV as well as a number of rate switch and further advance fixed-rate deals starting from 2.31%.
Barclays has also reduced a number of products to ‘best-ever’ rates. The reduced range includes a two-year fixed mortgage at 2.09% with a 1% fee; a two-year tracker at a rate of 2.09% and £1,500 fee; and a five-year fix at 2.99% with a 1% fee, all at 75% LTV. The bank is also introducing a new 2.99% 10-year fix at 65% LTV with a £2,000 fee.
Barclays has also increased the fees on other products and has withdrawn certain deals.
Its two-year tracker at 1.85% and 65% LTV, now has a fee of £1,500 - an increase of £10 and the lender’s product withdrawals include a five-year fixed purchase-only mortgage at 2.69% and 80% LTV and a two-year fixed-rate at 2.95% and 65% LTV.
On the residential front, Atom Bank has expanded its offering and has now launched new two- and five-year residential loans at 80% and 85% LTV, both available for house purchase and remortgage.
Atom Bank specialises in digital mortgages and its products are available through select brokers only.
The bank services the following lending categories: self-employed, contractors, lending into retirement, purchase, re-mortgage, shared ownership, first-time-buyers and new-build properties.
Digital mortgages by Atom Bank are all backed by automated systems, and customers can see every stage of their application through an app.
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