Leeds Building Society – the lender has increased the maximum loan to value to 75% and the maximum loan size to £750,000 for these property types. Also launched a bespoke HMO range for properties with up to 8 bedrooms. The 2 year fixed rates start from 1.99% with a £999 lender fee.
Zephyr Homeloans – launched in December 2018, is a new dedicated Buy to Let lender. Zephyr provides a range of mortgage products that are focused on meeting the needs of professional portfolio landlords and other specialist property investors. Lender will consider HMO’s, multi units on 1 title as well as single investment units, and rates start from 2.69%. The lender is currently available through selected partners including 3mc/RLA Mortgages.
The Mortgage Works – has cut stress rates for longer term fixed rates and like-for-like remortgage products and added a 10 year fixed rate product range and. The new 10 year fixed rates start from 2.74% at 65% Loan to Value with a £1,995 fee, free standard valuation and £250 cashback. The Mortgage Works has also launched a 10 year fixed rate product that is Early Repayment Charge free after five years, available from 3.24% at up to 65% Loan to Value.
The stress rate for 5 year fixed rate products up to 75% Loan to Value has been reduced from 4.99% to 4.50%, while 10 year fixed rates at up to 65% Loan to Value have reduced from 4.99% to 4.00%, or pay rate plus 0.75%, whichever is higher.
Like-for-like remortgages over 65% Loan to Value and up to 75% Loan to Value stress rates have reduced from 5.50% to 4.99%.
Hinckley & Rugby – has entered the limited company BTL market exclusively through 3mc/RLA Mortgages. The products are available up to 70% LTV with both the 2 year discounted and fixed rate products having no early repayment charges from day 1. Rates start from 2.99%.
Paragon Bank – added a range of portfolio landlord 5 year fixed rates available at 80% LTV. The products are available for HMO’s, multi units on 1 title and standard residential units with a free valuation and £400 cash back at completion. The rate is fixed at 3.80% with a 1% lender completion fee. All of these products are available through selected firms including 3mc/RLA Mortgages.
Metro Bank – reviewed the pricing across their BTL range, with fixed rates now starting from 2.19%. The lender has also introduced a £250 cash back for all Buy to Let remortgage products and free valuation.
Clydesdale Bank – has cut various BTL fixed rates by 0.10%. 5 year fixed rates now start from 2.49%.
Skipton for Intermediaries – also made various rate changes on selected BTL products and has also removed the early repayment charges for all BTL base rate tracker products.
For further information on Buy to Let mortgages both for individuals and limited companies please contact us on 02039704113 or visit the The HMOMortgageBroker .