Mortgage Works and Barclays have since reduced mortgage rates across a range of it’s buy to let products. From Wednesday, 15th January 2020, these changes were significant.
A brought down on rates has been on the two and five years ‘buy to let mortgage products’ that rates decrease should continue to bring ‘buy to let’ investors,
According to Mortgage Works’ buy to let range, the two-year fixed rate product at 75 per cent loan-to-value (LTV) is now 1.74 percent, down from 2.19 per cent, while the five-year fixed rate at 75 percent LTV is currently 2.14 percent, from 2.24 per cent. Both products come with free valuation, £250 cashback and include a £995 fee.
The two-year fixed rate ‘let to buy’ product is reduced to 1.89 per cent, down from 2.34 percent at 65 percent LTV and includes free valuation £250 cashback with a £995 fee.
The two-year fixed-rate product is now 2.49% , down from 3.19% This is at 65% LTV and comes with a free valuation. And for those with a large portfolio, the two-year fixed rate is reduced to 2.59 per cent, from 2.79% at 75% LTV with a £995 fee and which includes free valuation and £250 cashback.
An introduction of two and five-year fixed rate products, with a two per cent fee, at 65 percent and 75 per cent loan to value to it’s buy to let range will commence.
This offers landlords a broad scope of alternatives to meet their fluctuating needs, however, these remain attractive when landlords are choosing their mortgage hence further increasing the competitiveness of the two and five-year rates. A continuous support will still be given for landlords looking to manage their finances through fixed rates.
all with no fee and £500 cashback.
According to Craig Calder, director of Barclays Mortgages, an introduction of great opportunities in the mortgage market has been put in place since early 2019, the launch of a new product which comes with £500 cashback.
Following reductions in residential purchase mortgages at 95% loan-to-value now stand at 3.40% for a 5-year fixed mortgage and also, 3.02% for a 2-year fixed mortgage and both with no fee. Meanwhile fee-free buy-to-let products for purchase and remortgage at 75% loan-to-value now stand at 2.66% for a 2-year fix and, 2.99% for a 3-year fix.