You are here: Home - News -

BTL rates tumble as UK pauses for Brexit vote – Ying Tan’s Market Monitor

by: Ying Tan, managing director, Buy to Let Club
  • 23/06/2016
  • 0
BTL rates tumble as UK pauses for Brexit vote – Ying Tan’s Market Monitor
The day of the EU referendum has arrived and the headlines across almost every media outlet are, understandably, dominated by Brexit campaigners and 'remain' arguments, writes Ying Tan,managing director, Buy to Let Club.

Against this backdrop, buy to let has been given something of a reprieve which has been a welcome break.

Being able to open a newspaper and not be greeted by doom and gloom headlines forecasting the end of property investment has made a nice change. But while the nationals may not have been reporting on the buy-to-let market, that’s not to say there wasn’t much going on. Indeed, it’s been quite a busy month as far as criteria changes are concerned.

Aldermore came out with a new limited edition rate on its standard buy-to-let product range of 3.35% for five-year fixed rates up to 80% loan-to-value (LTV), available for both purchase and remortgage. The new product features a completion fee of 1.50% and a £199 booking fee.

Pepper Home Loans announced some changes to its tracker rates in line with LIBOR changes. Its buy-to-let rates now start at 2.48%.

Precise also altered its tracker range with updates to two lifetime tracker products. Its flat fee lifetime tracker will now have a maximum LTV of 75% while its percentage fee product will have a maximum LTV of 60%.

Santander launched a new remortgage special in its buy-to-let range at 75% LTV, fixed for two years at 2.49%. The product comes with a 1% booking fee. The lender also announced selected fixed rate reductions of up to 0.15% at 60% and 75% LTV. Rates now start at 1.89%.

Rates are also tumbling at the Nottingham which revealed it was reducing the pricing on three of its buy-to-let products. Its two-year fix at 75% LTV saw rates reduced from 2.99% to 2.64% while its three and five-year fixes saw rates reduced from 3.40% to 2.99% and 3.79% to 3.39% respectively – both at 75% LTV.

Finally, Skipton made some changes to selected two and five-year fixed products with rates reduced by up to 0.20%.

Now, back to Brexit. In or out? One thing’s for sure, we’ll be back to buy-to-let horror stories by this time next month, so for now, enjoy the break.

There are 0 Comment(s)

You may also be interested in