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New Street and Secure Trust cut fixed-term rates

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  • 06/06/2017
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New Street and Secure Trust cut fixed-term rates
New Street Mortgages and Secure Trust Bank have cut rates on a range of their respective buy to let and residential mortgages.

New Street has cut rates across its whole range of five-year fixed rate buy-to-let products by as much as 0.65%.

The lender, which is part of the Northview Group, also cut some of its three-year fixed rate deals. All rates go live from tomorrow.

Examples include:

  • Five-year 75% loan to value (LTV) with no fee, reduced from 4.04% to 3.39%;
  • Five-year 75% loan to value (LTV) with 1.5% fee, reduced from 3.64% to 3.09%;
  • Three-year 80% loan to value (LTV), with 1.5% fee, reduced from 3.44% to 3.34%.

The Northview Group sales and distribution director Steve Griffiths (pictured) said: “Following the launch of our new lending criteria, these changes to our five-year fixed rate mortgages in particular make New Street a highly attractive option for borrowers.

“We firmly believe these new rates and New Street’s innovative approach to the buy-to-let market will resonate with borrowers looking to get a foothold or make their next purchase in the buy-to-let market.”

 

Secure Trust

Meanwhile, Secure Trust Bank has cut rates on a range of its residential mortgages by up to 0.45%.

The lender, which only entered the mortgage market two months ago, said the new rates would be available to customers who are often overlooked by high street lenders, including contract workers, self-employed and those with complex incomes or who had experienced a credit blip.

Products affected are available exclusively through selected mortgage intermediaries.

Examples include:

  • Two-year fixed 65% LTV at 2.69% (reduction of 0.3%);
  • Two-year fixed 80% LTV at 3.19% (reduction of 0.45%);
  • Three-year fixed 65% LTV at 3.09% (reduction of 0.15%);
  • Three-year fixed 80% LTV at 3.49% (reduction of 0.26%);
  • Five-year fixed 65% LTV at 3.39% (reduction of 0.05%)

Secure Trust Bank Mortgages head of sales and marketing Tony Hall said: “The ongoing review of our rates demonstrates our continued focus on ensuring our customers are consistently getting the best deal possible.

“With our focus on helping customers that are underserved by high street lenders, this reduction will bring more choice to those who don’t fit the criteria used by traditional lenders.”

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