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BTL lenders continue to slash rates – Ying Tan’s market round-up

by: Ying Tan, managing director of Buy to Let Club
  • 26/06/2017
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BTL lenders continue to slash rates – Ying Tan’s market round-up
It would be nice to be able to use some of this comment piece to discuss what the new government means for the buy- to-let market.

However, we still don’t really have any idea what the new government’s plans are. So, instead, let’s dive right into the latest buy to let product news.

 

Special deal

Clydesdale Bank brought a little excitement to the market with the launch of its buy to let purchase special.

On offer for a limited time only, it’s available for loans of £80,000 to £500,000, has no arrangement fee and features a free mortgage valuation. Several rates have also been reduced across the Clydesdale range.

New Street marked the start of summer by reducing prices across its five year fixed rates, with cuts of up to 0.65%.

The lender is still offering valuation fees at just £1 so is likely to remain a firm favourite with brokers.

Not to be outdone, Platform announced it too was reducing rates across its fixed rate range. The lender is implementing cuts of up to 0.25%.

 

Limited edition

Elsewhere, Vida Homeloans launched a limited edition range of buy to let mortgages up to a maximum of 70% loan to value (LTV).

The range features the lender’s lowest ever rates – 3.14% for buy to let business products.

Aldermore unveiled its new buy to let five year fixed rates for individual landlords on single residential units.

The product is priced at 3.58%, is available up to 75% LTV and has a reversion rate of 3.23% and product fee of 2%.

Finally, Leeds Building Society announced it is reducing rates on eleven of its buy to let products by 0.10%, up to 60% LTV.

Let’s hope by next month we’ll have a little bit more stability. We can dream, eh?

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