Rates of 5.99 per cent (APR 6.2 per cent), fixed until 1 March 2007, are now available for LTVs of up to 75 per cent. A rate of 6.24 per cent (6.3 per cent) is available for LTVs up to 85 per cent. In addition to these, Heritable Bank has cut early repayment charges on its range of LIBOR-linked rates for buy-to-let investors.
Mark Sismey-Durrant, chief executive of Heritable, commented: “These enhancements to our product range show our commitment to meeting the needs of the mortgage introducer market. We are confident that with increasing numbers of borrowers seeking a longer-term fixed rate, to protect themselves from future rate rises, the three-year funding will prove very popular.”
Heritable Bank is the UK subsidiary of Landsbanki Islands, the National Bank of Iceland. Heritable Bank was established in 1877 and became part of the Landsbanki Group in 2000.
