Borrowers can now choose a Flexible Fixed rate, without an extended early repayment charge, of 4.99% up to 85% LTV and 5.29% up to 95%. 2, 3, 5, 7, 10 and 15 year fixes are available at the same rate.
The Together range, which allows borrowing of up to 125% LTV (max 95% secured) now has variable and fixed rates starting at 5.99%.
Flexible Base Rate Tracker rates have also been reduced and now offer a rate of 4.99% (Bank of England + 0.24%) for loans up to 85% LTV or 5.29% (Bank of England + 0.54%). 2, 3 and 5 year products are available with no early repayment charge.
A new Buy to Let range sees an increase in the maximum number of properties to 10, maximum total exposure of £3m and an increase in the highest LTV to 87%. For up to 4 properties the borrower must expect to receive 100% of the monthly mortgage payment in rent, calculated on an interest only basis, at a notional rate of 6%. This rises to 7% for 5 – 10 properties.
Buy to Let products have been enhanced with a new 2 Year Flexible Base Rate Tracker with rates starting at 5.99% and reductions in the Flexible Fixed and 5 Year Tracker products.
All of the above products are available with a Help with Costs benefit of £750 and, for a slightly higher rate, the option of paying no arrangement fee.
