The lender has launched a range of risk-priced buy-to-let mortgage products, which take full advantage of the fact that Norwich & Peterborough Building Society was the first to obtain the Basel ll waiver from the Financial Services Authority.
Graham Toy, chief executive of Astra, said: “These new products will be very exciting for mortgage introducers and their clients. As the first lender to be approved by the Financial Services Authority to offer Basel ll risk-based pricing we have the ability to offer extremely competitive products for low risk mortgage applicants.”
Products repriced
Without incentives options:
- Two-year fixed rate 75 per cent loan-to-value (LTV)
- Two-year fixed rate 85 per cent LTV (115 per cent rental coverage)
- Two-year fixed rate 90 per cent LTV
- Three-year fixed rate 75 per cent LTV
- Three-year fixed rate 85 per cent LTV (115 per cent rental coverage)
- Three-year fixed rate 90 per cent LTV
- Five-year fixed rate 75 per cent LTV
- Five-year fixed rate 85 per cent LTV
- Five-year fixed rate 90 per cent LTV
- Five-year fixed rate 75 per cent LTV
- Five-year fixed rate 85 per cent LTV
- Five-year fixed rate 90 per cent LTV
