Several lenders came to the market this week with new deals, looking to fill gaps in the market and their own product ranges.
Three high street brands announced new two and five-year fixed rates over the last five days, looking to meet demand from first-time buyers and home movers.
Skipton Building Society launched a new range of two and five-year fixes with a choice of fee and rate blends, while Nationwide made cuts of up to 0.15 per cent on selected five-year fixed rate deals.
In addition, Nationwide withdrew its 85 per cent loan-to-value five-year fixed rate product with a £999 fee at 3.24 per cent.
Halifax reduced rates by 0.50 per cent across its 0 to 95 per cent LTV two-year fixed first-time buyer and home mover products.
The lender also cut the rates on 0 to 85 per cent LTV five-year remortgage products by up to 0.45 per cent.
At the more specialist end of the market, buy-to-let lender Foundation Home Loans updated its current prime offerings to include three and five-year fixed products.
Business development director of Foundation Home Loans Paul Brett said they fill a gap in the product range which introducers had identified as an important addition. “By allowing the rental yield calculation of 4.39 per cent rather than the notional rate, we believe this will allow more customers to benefit from our compelling lending proposition.”
Finally, the Dudley Building Society announced a new range of discounted rate products aimed at providing funding for buyers and owners of listed buildings, with the rate discount lasting for the lifetime of the loan.
Having moved to concentrate mortgage distribution exclusively through the intermediary channel, the society is now developing new business niches to meet the needs of its brokers.
Jeremy Wood, chief executive of the Dudley, explained that this is a niche which research found was under represented.
“We believe it is important to support customers who, by occupying these culturally important properties, are helping to keep alive vital parts of our shared heritage. The products we have designed are made more attractive as the discount on the rate we offer extends to the end of the mortgage. ”
Here are all the rates that were publicly announced this week:
| Lender | LTV/Type | Headline Rate | Product Fee |
| Skipton Building Society | 60%/2-year fixed | 1.46% | |
| Skipton Building Society | 60%/5-year fixed | 2.44% | |
| Skipton Building Society | 60%/5-year fixed | 2.58% (remortgage) | £0 |
| Skipton Building Society | 60%/5-year fixed | 2.48% (remortgage) | £995 |
| Dudley Building Society | 70%/discount rate | 3.99% | |
| Dudley Building Society | 75%/discount rate | 4.24% | |
| Foundation Home Loans | 75%/2-year fixed | 3.69% | 2% arrangement fee |
| Foundation Home Loans | 75%/3-year fixed | 3.89% | 2% arrangement fee |
| Foundation Home Loans | 75%/5-year fixed | 4.39% | 2% arrangement fee |
| Halifax | 75-85%/2-year fixed | 2.14% (remortgage) | £495 |
| Halifax | 75-85%/2-year fixed | 2.34% (remortgage) | £0 |
| Dudley Building Society | 80%/discount rate | 4.24% | |
| Skipton Building Society | 80%/2-year fixed | 2.45% (remortgage) | |
| Halifax | 80-85%/5-year fixed | 3.84% | £495 |
| Halifax | 80-85%/5-year fixed | 4.04% | £0 |
| Halifax | 85-90%/2-year fixed | 3.19% | £495 |
| Halifax | 85-90%/2-year fixed | 3.39% | £0 |
| Halifax | 85-90%/5-year fixed | 4.24% | £495 |
| Halifax | 85-90%/5-year fixed | 4.44% | £0 |
| Nationwide | 85%/5-year fixed | 3.24% | £0 |
| Nationwide | 90%/5-year fixed | 3.84% | £0 |
| Skipton Building Society | 90%/2-year fixed | 3.64% | £995 |
| Skipton Building Society | 90%/2-year fixed | 3.72% | £0 |
| TSB Intermediary | 90-95%/2-year fixed | 4.49% | £0 |
| TSB Intermediary | 90-95%/3-year stepped | 3.59% (year 1) 4.69% (years 2 and 3) | £995 |
| TSB Intermediary | 90-95/5-year fixed | 4.89% | £0 |
| TSB Intermediary | 90-95/10-year fixed and flex | 5.34% | £0 |
peter.walker@ft.com
