These will replace the existing fixed rate products, which will be withdrawn on the same day. The new rates reflect recent movements in the money markets.
The self-certification mortgages are also launched with a range of new flexible features:
- During the fixed rate period, overpayments of up to £500 per month may be made, rising to an unlimited amount thereafter
- If overpayments have previously been made, underpayments and payment holidays may subsequently be taken
- A drawdown facility is available at the end of the fixed rate period
Self-certification mortgages:
- 2 year fixed rate available at 4.89% (increased by 0.4%)
- 3 year fixed rate available at 5.09% (increased by 0.4%)
- 5 year fixed rate available at 5.29% (increased by 0.3%)
- FlexiPlus variable rate (the rate to which these mortgages revert after the fixed rate period) has been reduced to 5.79%, resulting in an overall decrease in the APR of these products
Buy-to-let mortgages:
- 2 year fixed rate available at 4.89% (increased by 0.4%)
- 5 year fixed rate available at 5.29% (increased by 0.3%)
- Investment Flexible Variable Rate (the rate to which these mortgages revert after the fixed rate period) remains at 5.79%
