MortgagesSep 4 2015

Twenty lower LTV deals updated this week

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Twenty lower LTV deals updated this week

Two lenders have made rate changes at the lower loan-to-value end of the market this week, updating the prices of 20 different deals.

Earlier today, TSB published new details for its two and five-year fixed rate mortgages, two-year trackers for homemovers and five-year fixed rates for remortgages, all at 60 per cent LTV.

Rates will increase by 0.05 per cent across these mortgages for those that have a lower LTV ratio on their home, which the lender said was in line with recent moves across the market.

On new house purchases, TSB is increasing rates for people with a lower LTV (up to 60 per cent) across its two and five-year fixed rate mortgages.

Rates now start at 1.54 per cent for homemovers on a two-year fix.

Homemovers looking to benefit from the historically low Bank of England base rate will now see two-year trackers increase to 1.34 per cent with a £1,995 fee and 1.79 per cent with no fee.

For those remortgaging their existing home, TSB is increasing the rate on 0 to 60 per cent and 60-to 75 per cent LTV remortgages in its five-year fixed rate product, while those looking to transfer to a new TSB mortgage when their previous one ends will see rates start from 2.39 per cent.

Meanwhile, earlier in the week The Co-operative Bank’s intermediary lender Platform reduced rates on its buy-to-let range by up to 0.10 per cent.

Two-year fixes now start from 2.24 per cent at 60 per cent LTV with a £1,999 fee - along with three and five-year fixed rates now starting from 2.79 per cent and 3.34 per cent respectively - also for mortgages at 60 per cent LTV with a £1,999 fee.

Specialist lender Fleet Mortgages also recently repriced two of its lifetime tracker products for those purchasing or remortgaging HMO properties. For loans up to 65 per cent LTV the new rate is 4.25 per cent and for those up to 75 per cent it is 4.80 per cent.

Here are all the rates that were publicly announced this week:

LenderLTV/Type Headline Rate Product Fee
Platform60%/2-year fixed2.24%£1,999
Platform60%/2-year fixed2.44%£999
Platform60%/2-year fixed2.99%£0
Platform60%/3-year fixed2.79%£1,999
Platform60%/3-year fixed3.04%£999
Platform60%/3-year fixed3.74%£0
Platform60%/5-year fixed3.34%£1,999
Platform60%/5-year fixed3.54%£999
Platform60%/5-year fixed4.09%£0
TSB60%/2-year fixed1.54%£1,995
TSB60%/2-year fixed1.64%£995
TSB60%/2-year fixed1.99%£0
TSB60%/5-year fixed2.34%£995
TSB60%/5-year fixed2.59%£0
TSB60%/2-year tracker1.34%£1,995
TSB60%/2-year tracker1.79%£0
TSB60%/5-year fixed2.39% (remortgage)£995
TSB60%/5-year fixed2.64% (remortgage)£0
TSB60-75%/5-year fixed2.64% (remortgage)£995
TSB60-75%/5-year fixed2.94% (remortgage)£0
Fleet Mortgages65%/lifetime tracker4.25%
Fleet Mortgages75%/lifetime tracker4.80%
Fleet Mortgages75%/2-year fixed3.29% (BTL)
Fleet Mortgages75%/2-year fixed4.39% (limited company)
Leeds Building Society85%/5-year fixed3.34% (remortgage)£0
Clydesdale and Yorkshire Bank90%/3-year fixed3.09%
Clydesdale and Yorkshire Bank90%/5-year fixed3.39%
Clydesdale and Yorkshire Bank90%/2-year fixed2.89%
Clydesdale and Yorkshire Bank95%/3-year fixed4.49%

peter.walker@ft.com