The information within this article is correct as at 26/09/2024.
BM Solutions – has reduced rates by up to 0.2 per cent on selected buy-to-let and let-to-buy products.
Santander for Intermediaries – has launched a new range of green remortgage products for buy-to-let borrowers who have a valid A or B rated Energy Performance Certificate (EPC) on their property. The rates are 0.1 per cent lower than the equivalent standard remortgage rates, with buy-to-let two and five-year fixes available from 60 per cent to 75 per cent LTV.
Virgin Money – has reduced selected buy-to-let rates. Five-year fixed rates with a 3 per cent lender fee now start from 3.80 per cent and rates with a £2,195 lender fee have reduced by up to 0.1 per cent, now starting from 4.02 per cent. Selected 60 per cent and 75 per cent LTV rates have lowered by up to 0.17 per cent, now starting from 4.17 per cent with a 1 per cent lender fee and 4.27 per cent with a £995 lender fee.
NatWest for Intermediaries – has reduced rates by up to 0.6 per cent, with the largest cut to a 75 per cent LTV product, down to 4.16 per cent with a £3,499 lender fee. At 60 per cent LTV, rates now start from 3.69 per cent with a £3,499 lender fee. Two-year fixed rate remortgage products have reduced by up to 0.47 per cent. At 60 per cent LTV, rates now start from 3.93 per cent, rising to 4.36 per cent at 75 per cent LTV.
Five-year buy-to-let purchase rates have reduced by up to 0.32%, now available from 4.28 per cent at 60 per cent LTV and 4.32 per cent at 75 per cent LTV with a £995 lender fee. Five-year remortgage rates are down by up to 0.42 per cent, with the lowest rate at 60 per cent LTV now 3.90 per cent and 70 per cent LTV rates starting from 4.25 per cent.
The Mortgage Works – has reduced rates by up to 0.35 per cent across selected buy-to-let products for new customers, with rates now starting from 3.49 per cent. The BTL two-year fixed rate (purchase and remortgage) has been reduced by 0.35 per cent to 3.99 per cent. It comes with a £3,995 lender fee, available up to 65 per cent LTV.
Other new business reduced rates include: A five-year fixed rate (purchase and remortgage) at 3.69 per cent with a 3 per cent lender fee, available up to 65 per cent LTV (reduced by 0.1 per cent).
A five-year fixed rate (purchase and remortgage) at 3.99 per cent with a £3,995 lender fee, available up to 65 per cent LTV (reduced by 0.15 per cent).
Paragon Bank – has launched a new two-year fixed-rate buy to let mortgage with no lender fee, as well as a two-year discounted variable product with a low fee.
The no-fee two-year fix starts from 6.1 per cent for the purchase or remortgage of single self-contained properties with EPC ratings of A-C, going up to 6.15 per cent for properties with a D or E EPC rating, and 6.35 per cent for HMOs and MUFBs.
The discounted variable rate product is tracking Paragon’s SVR minus 3.16 per cent on EPC A-C rated properties and 3.11 per cent on the standard range. The mortgage is available with a 1.25 per cent lender fee, with rates starting at 6.19 per cent for the green option, 6.24 per cent on the standard product and 6.44 per cent for HMOs and MUBs.
Both new products are available at maximum 75 per cent LTV. The options are available for individual and limited company applications in England, Scotland and Wales, include a free mortgage valuation and have a £299 application fee.
Coventry for Intermediaries – has reduced selected buy-to-let products by up to 0.45 per cent.
Leeds Building Society – has reduced rates by up to 0.17 per cent across their 2-year, 60 per cent LTV buy-to-let and portfolio buy-to-let products.
The Mortgage Lender (TML) – has reduced rates across its five-year fixed rate buy-to-let products. TML’s rates start from 4.71 per cent for standard properties, down from 4.86 per cent. There have also been reductions on the portfolio multi loan products, now starting from 5.37 per cent, as well as further reductions on the expat, holiday let, and short term let product ranges. The lender has also lowered rates on a number of five-year fixed rate products available for HMOs and multi-unit blocks, with rates now starting from 4.96 per cent.
Precise – has reduced rates on their buy-to-let range by 0.25 per cent. The lender’s refurbishment buy-to-let suite has also been lowered by up to 1.05 per cent, and its Tier 1 products have been aligned with the standard refurbishment options to simplify the range.
In addition, pricing for its EPC C+ refurbishment BTL product has been reduced by 02 per cent.
Aldermore Bank – has launched a range of new limited-edition rates for landlords across its buy-to-let mortgages. The limited-edition range has rates reduced by up to 0.2 per cent across both two- and five-year fixed-rate mortgages at up to 75 per cent LTV.
The new options include a two-year limited-edition fix with a 3 per cent lender fee, priced at 4.69 per cent for individual and company landlords with single residential investment properties. It also includes several five-year fixes for individual and company landlords with single residential investment properties offering zero, 1.5 per cent and 5 per cent lender fees, with pricing starting from 4.59 per cent.
Accord Mortgages – has reduced their buy-to-let product range by up to 0.3 per cent. The reductions include a discount of up to 0.3 per cent on five-year fixes, with two-year fixes reducing by up to 0.15 per cent and three-year fixes by up to 0.20 per cent.
Vida Homeloans – has reduced rates across its buy-to-let mortgages by up to 0.3 per cent.
Foundation Homeloans – has reduced rates across its buy-to-let mortgages by up to 0.5 per cent.
Clydesdale Bank – has reduced selected rates by up to 0.4 per cent on their two and five-year fixed rates.
It’s highly recommended to seek legal advice, and stay up to date with changes in UK landlord and tenant law. You could consider joining a landlord association such as the NRLA to help you stay compliant, save time and stress, save money, and ultimately help see your rental business thrive. Read more about the NRLA.
This information is a general overview and not exhaustive, so be sure to conduct further research or consult legal professionals for specific guidance based on your situation, location, and circumstances.
At 3mc, we have a team of expert advisers who can discuss all your mortgage requirements. If you would like to discuss your options, give the 3mc team a call on 0161 962 7800.
All calls are recorded for training and monitoring purposes. 3mc for intermediaries only.
*Your home may be repossessed if you do not keep up repayments on your mortgage. 3mc (UK) Ltd is authorised and regulated by the Financial Conduct Authority and is entered on the Financial Services Register https://register.fca.org.uk/s/ under reference 302992. Please note: The FCA do not regulate Business Buy to Let Mortgages.