Mortgage News
Lenders kick off August with rate cuts and criteria changes
A raft of product withdrawals, replacements and criteria changes have come into effect this week from Leeds and Skipton Building Societies, TSB, Clydesdale and Tesco Bank.
TSB stopped lending on ex-local authority flats and maisonettes and ex-local Scottish tenements over four stories, from yesterday.
Tesco Bank today reduced the rate on its five-year fixed rate up to 60% loan-to-value (LTV) allowing borrowers to choose from 2.07% with a fee of £995 or 2.19% with no fee.
Residential mortgage choice has been boosted over at the Clydesdale with additions to its two and five-year fixed rate ranges.
Two 60% LTV standard fee mortgages have been launched priced at 1.69% fixed over two years and 2.19% fixed for five years. Rates have been cut across its residential product ranges up to 95% LTV.
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Skipton Building Society rounds off the flurry of August rate cutting with reductions to two and five year residential fixed products by up to 0.25% on average.
From tomorrow, Leeds Building Society will update the end date on over 30 of its two, three and five-year fixed rate buy-to-let mortgages and holiday let deals, pushing it on several months from August to 31 October.