Mortgage rally – rate reduction, partnerships and …

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Nottingham also cut the rate on its 80% LTV Free Fixed Mortgage offer from 2.15% to 2.05%.

Other benefits for potential buyers or those looking to remortgage come in the form of further rate reductions on the following products:

  • LTV fixed at 80% over three years with no charge now at 2.30% (down from 2.60%)

  • Fixed 85% three-year LTV with no charge now at 2.70% (down from 2.90%)

  • LTV fixed at 90% over five years with charge of £ 999 (£ 0 up front) now 3.30% (up from 3.45%)

  • 90% fixed five-year LTV with no charge now at 3.60% (down from 3.70%)

Nikki Warren-Dean, Head of Intermediate Sales at The Nottingham, says: “We continue to evolve and are really happy that the latest product additions include a larger loan offering and another remortgage only option. “

“We’re also thrilled to have been able to reduce the rates on our three and five year fixed rate residential mortgages as we continue to create a competitive line that gives people choice, whatever their goals and circumstances.” of property.

Shawbrook Bank revitalizes rental and HMO products

Shawbrook Bank has announced a series of changes to its buy-to-let (BTL) and multiple-occupancy home (HMO) lineup.

As part of the changes, Shawbrook introduced three new product lines depending on the size of the loan, including loans over £ 1million, loans between £ 150,000 and £ 1million and loans below to 150,000 pounds sterling.

The changes impact all Shawbrook Buy-to-Let and HMO products.

While continuing to support clients with loans starting as low as £ 40,000, rates on large loans over £ 1million have been reduced and will now start at 4.14% on BTL and HMO at 65% LTV .

Product

LTV

Loan size

Fresh

Variable rate of remuneration

3-year correction (%)

Fixed 5 years (%)

BTL & HMO

(Simple, complex and large HMO)

65%

Less than £ 150,000

£ 150,000 to £ 1m

£ 1 million +

1.50%

1.50%

2%

4.74%

4.34%

4.14%

4.79%

4.39%

4.19%

4.84%

4.44%

4.24%

75%

less than £ 150,000

£ 150,000 to £ 1m

£ 1 million +

1.50%

1.50%

2%

4.84%

4.44%

4.24%

4.89%

4.49%

4.29%

4.94%

4.54%

4.34%

Gavin Seaholme, Sales Manager, Real Estate Finance at Shawbrook Bank, comments, “These changes underscore Shawbrook’s continued commitment to supporting the simple, the complex and everything in between.

“Our team has extensive lending experience on commercial and residential developments, even in the most complex situations, and works hard to serve clients at both ends of the market. By offering competitive rates on all loan sizes, we can make our expertise and our knowledge of the market accessible to as many people as possible.

Discounted BTL Rates and New Product Launches at The Mortgage Works

The Mortgage Works (TMW) has reduced five-year fixed rate BTL remortgage rates by up to 0.30%, each with a free appraisal and free legal notice.

The new mortgage repurchase rates include:

  • Five year fixed rate up to 65% LTV reduced from 0.30% to 1.69% with charge of £ 1,995.

  • Five year fixed rate up to 75% LTV reduced from 0.25% to 1.94% with charge of £ 1,995.

The lender also introduced new two- and five-year fixed rate BTL mortgages for purchase and remortgage, with sales starting at 1.69%.

These products include:

  • Two-year fixed rate of 1.69%, available up to 65% LTV, with a charge of £ 995.

  • Two-year fixed rate of 1.99%, available up to 75% LTV, with a charge of £ 995.

  • Five-year fixed rate of 1.94%, available up to 65% LTV, with a charge of £ 995.

  • Five-year fixed rate of 2.29%, available up to 75% LTV, with a charge of £ 995.

Daniel Clinton, Director of The Mortgage Works, said: “As one of the largest lenders to rent in the UK, we are always looking to offer homeowners a wide range of options.

“Our new products will give more choice to homeowners looking to buy a new property or remortgage the Company. At the same time, we are reducing other products in the range to ensure that we maintain our competitive position in the market. “

Landbay goes green with a new range of mortgages

Buy-to-lease lender Landbay has launched its first line of green mortgages.

The products offer a 0.1% or 0.05% reduction over their non-eco-friendly counterparts, depending on the property’s energy rating.

By lowering rates in line with EPC property valuations, Landbay hopes to encourage energy efficient rental properties to become an attractive option for homeowners.

Here are some examples of new tariffs:

  • Five year fixed rate with EPC A / B rating – 3.15% up to 65% LTV, down 3.25% to 1.5% fee

  • Five year fixed rate with EPC A / B rating – 3.25% up to 75% LTV, down 3.35% to 1.5% fee

  • Five year fixed rate with an EPC C rating – 3.20% up to 65% LTV, down 3.25% to 1.5% fee

  • Five year fixed rate with an EPC C rating – 3.30% up to 65% LTV, down 3.35% to 1.5% fee

All green rates are available for properties registered for more than 24 months with an EPC rating of C and above.

Paul Brett, Managing Director of Intermediaries at Landbay, comments: “Owner-leased properties are required to have at least an E-rated EPC. However, the government has said it wants as many of them as possible. they be upgraded to C band or higher by 2030. “

“We hope that our line of green mortgages will go some way towards achieving this goal and will encourage more homeowners to consider adding energy efficient properties to their portfolios.”

Continuing its streak of rate cuts, the lender also slashed its lineup of large HMOs and multi-unit freehold blocks (MUFBs) by as much as 0.2%.

Landbay’s criteria for HMOs are seven to 12 rooms, while large MUFBs are seven to 12 units.

The new rates for HMOs include:

  • Large fixed HMO over 2 years 70% LTV – 3.69% instead of 3.85%

  • Large fixed HMO over 2 years 75% LTV – 3.79% down from 3.99%

  • Large HMO 5 years fixed LTV 70% – 3.89% instead of 4.09%

  • Large HMO 5 years fixed LTV 75% – 3.99% against 4.19%

Meanwhile, the new MUFB tariffs include:

  • Large 2-year MUFB Fixed LTV 70% -3.69% down from 3.85%

  • Large Fixed MUFB 2 years LTV 75% – 3.79% down from 3.99%

  • Large 5-year MUFB Fixed LTV 70% – 3.89% down from 4.09%

  • Large 5-year MUFB Fixed LTV 75% – 3.99% down from 4.19

Brett notes, “The demand for HMO and MUFB financing has accelerated over the past two years as experienced owners built and diversified their portfolios.”

“These types of property are more attractive to owners because they generate a higher return than that of individual housing. This is fueled by a strong demand for shared housing and rental properties. “

Intermediate specialists join forces to offer competitive rates

CHL Mortgages, the specialist middleman-only lender, was appointed by Dynamo for middlemen after their return to credit earlier this year.

The lender’s relationship with Dynamo spans several years, with CHL Mortgages being one of the first lenders to work with the team soon after the company was established.

The addition of Dynamo for Intermediaries signals yet another “milestone” in CHL Mortgages’ return to lending and will allow more brokers to access their products.

This appointment gives Dynamo brokers access to CHL Mortgages’ new BTL range, which includes two five-year fixed rate products, available at 3.25% up to 75% loan-to-value (LTV ) and 3.10% up to 65%. LTV.

Accessible to individual owners, portfolio owners and public limited companies, the range includes options to cover property types including HMOs, MUFBs, new construction, ex-local authority properties and properties above or next to commercial premises.

Ross Turrell, Commercial Director of CHL Mortgages, comments: “For a lender specializing in buying and leasing like us, adding Dynamo to our distribution network is vital and we are delighted to reestablish our partnership and offer our new product line to their advisors so soon. after our relaunch.

“The importance of technology enabling an enhanced experience for brokers and clients is a vision that our two companies share and we look forward to growing the relationship in the weeks, months and years to come. “

Cat Armstrong, Mortgage Club Manager at Dynamo for Intermediaries, adds: “We are delighted to welcome CHL Mortgages back to the market and to our distribution panel. They have always impressed us with their incredible subscription mentality and positive attitude. “

“There is certainly an affinity between our two companies and after more than a decade of waiting, we can’t wait to start working together again!


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