Mortgages  

Trio of lenders update residential BTL ranges

Trio of lenders update residential BTL ranges

Three lenders have come to market with reduced rates across their homeowner and buy-to-let (BTL) 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 (LTV), 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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TSB 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.

Finally, Skipton Building Society has refreshed its range of fixed rate BTL 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 BTL 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.

Adviser view:

Michelle Lawson, director at mortgage brokers Lawson Financial, said: “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.”

peter.walker@ft.com