Buy to Let and Residential lenders have increased fixed rates
Today The Mortgage Works has increased the rates on selected two- and five-year fixed rate products by 0.05%.
The increase will affect its two-year fixed-rate mortgage at 65% LTV with a £1,995 fee, now offered at a rate of 1.99%. Its two-year fixed up to 50% LTV with no arrangement fee comes in at 2.44%, and its five-year fixed at 50% LTV with £1,995 arrangement fee at 2.14%. TMW is also extending the end dates across all New Business products.
Likewise, BM Solutions is extending its end dates to July of the relevant year and increasing rates by up to 0.15% on retention products.
In contrast it is reducing its rates by 0.05% on selected buy to let (BTL) and let to buy (LTB) five-year fixed at 60-70% LTV.
A two-year residential fix at 65% LTV carries an interest rate of 1.75% and a product charge of £895. A five-year residential fix at 65% LTV comes in at 2.25% with a product charge of £1,395.
A two-year buy to let fix at 75% LTV has a rate of 2.45% with a product charge of £895. A similar LTV can be fixed for five years at a rate of 2.85% and a charge of £1395.
And finally, following the upward trend, Platform has also nudged up the rates on some of its fixed-rate deals. It is now offering two-year fixes from 1.39%, three-year fixes from 1.99% and five-year fixed rates from 2.24%. Its two-year tracker rates start from 1.49%.
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2nd March 2018