With parliamentary continuity following the re-election of the Conservative party to power last week, several lenders have expanded their buy-to-let offerings this week.
The Nottingham’s deputy treasurer Chris Gardner explained that while the run-up to the election saw the UK markets weighed down by uncertainty, with that now lifted, the building society took the opportunity to refresh its prices.
“The range of fixed rate buy-to-let mortgages now includes a new, lower loan-to-value range, whilst the rate and fee on the existing five-year fixed at 75 per cent LTV have been reduced,” he said.
“These will help borrowers who require budgeting certainty, as whilst the government have pledged to fix the term of each parliament to five years, the Bank of England cannot offer the same commitment for bank rate.”
As reported on Wednesday, TSB Intermediary joined the buy-to-let market, initially offering five-year buy-to-let deals, available up to 75 per cent loan-to-value, with a maximum loan size of £500,000 and a maximum of four applicants.
Meanwhile, The Melton has re-entered the buy-to-let market by launching three new products, also following feedback both from intermediaries and customers.
Earlier today (15 May) buy-to-let specialist Fleet Mortgages announced further expansion plans for the business, recruiting several new employees, particularly in its underwriting team.
To accommodate the growth in employee numbers and the expansion plans for the business, Fleet will be moving to new permanent headquarters in the town to the same name during August.
Bob Young, chief executive at the firm, added: “We have already recruited a number of new employees to the Operations team and we will be adding further experienced personnel to the business shortly.
Here are all the rates that were publicly announced this week:
|Lender||LTV/Type||Headline Rate||Product Fee|
|The Melton||60%/Standard BTL||2.79%||£399|
|The Melton||60%/Holiday BTL||3.35%||£599|
|Accord Mortgages||65%/2-year fixed||1.49%||£345|
|Accord Mortgages||65%/2-year fixed||1.64%||£345|
|Accord Mortgages||65%/3-year fixed||1.94%||£845|
|Accord Mortgages||65%/3-year fixed||2.04%||£845|
|Yorkshire Building Society||65%/four-year fixed||1.89%||£845|
|Nottingham Building Society||65%/2-year fixed||3.09% (BTL)||£499|
|Nottingham Building Society||75%/5-year fixed||4.09% (BTL)||£999|
|Yorkshire Building Society||75%/4-year fixed||2.29%||£845|
|The Melton||75%/Family BTL||3.75%||£399|
|Leeds Building Society||75%/5-year fixed rate HTB||2.99%||£199|
|Leeds Building Society||75%/2-year fixed rate HTB||2.34%||£199|
|Leeds Building Society||75%/2-year discount HTB||1.99%||£199|
|Leeds Building Society||75%/2-year fixed||2.09%||£199|
|Leeds Building Society||80%/2-year fixed||2.19%||£199|
|Leeds Building Society||80%/5-year fixed||2.94%||£199|
|Leeds Building Society||80%/5-year fixed||2.69%||£1,999|
|Yorkshire Building Society||90%/4-year fixed||3.54%||£845|