Just three lenders bring new deals to market

Just three lenders bring new deals to market

Just three lenders brought new deals to the table this week, all of which were announced today (25 September).

First up, Virgin Money made a number of improvements to its residential mortgage range, reducing selected 85 and 90 per cent loan-to-value fixed rates by up to 0.2 per cent and introducing a new range of intermediary exclusive buy-to-let products at 60 per cent LTV.

Secondly, Leeds Building Society has added to its range of Help to Buy equity mortgages with a new two-year fixed rate product.

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Both versions of the two-year 75 per cent LTV deal come with a free valuation for properties worth up to £500,000 and are available through intermediaries for borrowers in England, Scotland and Wales.

Martin Richardson, the society’s director of business development, explained: “Two years on from the launch of the Help to Buy equity scheme, lots of borrowers will be coming to the end of their initial deals and seeking a competitive remortgage package.”

Finally, buy-to-let specialist Fleet Mortgages revamped its entire product range - for standard, limited company and HMO borrowers - as a result of feedback from its intermediary partners.

Bob Young, chief executive at the firm, commented that with the recent announcement on mortgage payment tax relief “it seems more landlords will be looking to use a limited company vehicle and our bolstered range in this area is a response”.

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

LenderLTV/Type Headline Rate Product Fee
Virgin Money60%/2-year fixed2.19% (BTL)£1,995
Virgin Money60%/5-year fixed3.24% (BTL)£1,995
Virgin Money60%/2-year tracker2.29% (BTL)£995
Fleet Mortgages65%/2-year fixed2.89% (BTL)£500 completion
Fleet Mortgages65%/lifetime tracker3.99% (BTL)1% completion
Fleet Mortgages65%/5-year fixed4.09% (BTL)1% completion
Fleet Mortgages75%/2-year fixed2.99% (BTL)1% completion
Fleet Mortgages75%/2-year fixed4.39% (limited company)£750 completion
Fleet Mortgages75%/5-year fixed4.79% (limited company)1.5% completion
Leeds Building Society75%/2-year fixed1.59% (Help to Buy)£799
Leeds Building Society75%/2-year fixed1.95% (Help to Buy)£0
Virgin Money85%/5-year fixed3.03%£995
Virgin Money85%/3-year fixed2.48%£995
Virgin Money90%/5-year fixed3.55%£995
Virgin Money90%/3-year fixed3.25%£995