And, when wrapping up the BTL news in the lead up to Christmas, there’s no time like the present.
Early December saw Foundation Home Loans launch a number of remortgage products across both its buy-to-let and residential ranges.
Within its BTL range, advisers will be able to access fee-assisted two and five-year fixed rate remortgage products, available at both 65 per cent and 75 per cent LTV. Two-year fixed rates start at 3.34 per cent and five-year fixed rates start at 3.54 per cent.
Landbay increased its maximum LTV for buy-to-let products from 75 per cent to 80 per cent with the launch of two offerings.
The products, which are available on standard properties, include a two-year fix at 3.79 per cent and a five-year fix at 3.99 per cent available for loans from £100,000 up to £750,000.
Pepper and Paragon
Pepper Money made a number of rate reductions across its buy-to-let range. The specialist lender has cut buy-to-let rates by up to 0.1 per cent on its Pepper 48 Light range.
Two-year fixed rates up to 65 per cent LTV now available from 3.15 per cent and at up to 70 per cent LTV rates are available from 3.25 per cent.
All products in the buy-to-let range are available to both individual investors and limited companies.
Paragon Bank added a large loan product to its buy-to-let range. The offering is a 75 per cent LTV five-year fix at 3.5 per cent and includes free valuations.
The deal requires a fixed product fee of £3,500 and £299 application fee and is available on single self-contained properties with loans between £350,000 and £1m.
Accord and Fleet
Accord Buy To Let has reduced rates and improved its incentive offerings on selected products across its range.
Remortgage highlights include a two-year fixed rate at 1.74 per cent reduced by 10 basis points at 65 per cent LTV with a £1,495 completion fee and free valuation.
In addition, a 3.99 per cent five-year fixed rate is available at 80 per cent LTV with a £1,995 completion fee including free valuation, remortgage legal service and now an added cashback of £1,250.
Fleet Mortgages has made a number of criteria changes designed to provide greater flexibility to landlords.
The changes include the re-introduction of a maximum loan size of £2m – up from £1.5m – at a maximum LTV of 65 per cent on its standard and limited company buy-to-let product ranges.
For houses in multiple occupation (HMO) and multi-unit blocks (MUB), Fleet is also reducing the time the primary applicant for the mortgage must have owned a standard buy-to-let, HMO or MUB property down from two years to one.
Turning to the building society sector, Vernon Building Society has relaunched its mortgage range to brokers, featuring a variety of mainstream and specialist lending solutions.
Vernon’s buy-to-let range is accessible to individual landlords and limited companies, and two of its mortgages are available on holiday lets.
Leeds Building Society added a number of fee-free buy-to-let products. The offerings include a 60 per cent LTV two-year fix at 2.04 per cent, and a 60 per cent LTV five-year fix at 2.14 per cent.
In addition, the products allow for a free standard valuation and, for remortgages, fee assisted legal services are available.
Last but not least, Mansfield Building Society has introduced an online buy-to-let affordability calculator. The calculator is designed to help landlords and intermediaries check affordability against the society’s rental income requirements.
It’s been a busy few weeks and with Q1 set to maintain this hectic pace then let’s make sure we all enjoy our festive break – however long this may last.
Let me take this opportunity to wish everyone a merry Christmas and a happy New Year.