Mortgages  

Trio of lenders update residential ranges

Trio of lenders update residential ranges

Three lenders have come to market with reduced rates today (15 April) across their homeowner and buy-to-let ranges.

Coventry for Intermediaries has launched a new range of five-year fixed rate residential mortgages from 65 to 95 per cent loan-to-value, with rates starting from 2.39 per cent.

There is a choice between the 2.39 per cent deal at 65 per cent LTV, or the 75 per cent deal at 2.49 per cent; both with a £999 arrangement fee.

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Darin Landon, distribution director at the lender, said the new range is ideal for clients seeking the stability of fixed mortgage payments.

All its residential products are booking fee free and include a valuation of up to £670, he added.

TSB meanwhile has made rate reductions of up to 0.35 per cent over a range of two, three and five year terms.

It is also cutting rates by up to 0.30 per cent across a selection of its residential mortgages. The biggest reduction will be the homemover two-year fix, down from 4.09 per cent to 3.79 per cent for customers with an LTV of 90 to 95 per cent.

The lender has expanded its intermediary range of three-year fixed rate mortgages to support homeseekers with a LTV of 90 to 95 per cent - coming in at a fixed rate of 3.98 per cent with a fee of £995.

Finally, Skipton Building Society has refreshed its range of fixed rate buy-to-let products with interest rates lowered on certain products by up to 0.34 per cent across two and five-year terms priced at 60, 70 and 75 per cent LTV bands.

The new buy-to-let range for purchasers includes a two-year fixed rate at 1.99 per cent to 60 per cent LTV with £1,995 worth of fees, along with a fee free five-year fixed rate at 3.81 per cent to 70 per cent LTV.

For those wishing to remortgage, the two-year fixed range includes a 2.75 per cent to 75 per cent LTV and a five-year fix at 3.71 per cent at 75 per cent LTV, both with £995 fees.

All remortgage products offer free valuation and standard legal fees and all purchase products include a free standard valuation.

Kris Brewster, the society’s head of products, added: “We have a total of 36 products in our buy-to-let range to give landlords and potential landlords plenty of choice and as many different options as possible to help suit their many different needs.”

Michelle Lawson, director at mortgage brokers Lawson Financial, commented: “It’s good to see lenders reducing their residential rates to attract confidence and stimulate the market after the recent budget changes in the buy-to-let market.

“These products are very competitive with lenders that have good criteria and should source well.”

peter.walker@ft.com