The new fee-free products (click on table below) have no application or completion fees and remortgages are further supported with free legal fees and a free standard valuation.
They sit within The Cambridge’s new residential range, which has seen rates reduce across the board; and the maximum loan size at 90% loan to value increased to £525,000. The buy-to-let range has also had rate reductions over the range.
Head of lending Tracy Simpson said: “We understand the difficulties and cost borrowers are facing whether they want to move or remortgage and we’re keen to do everything we can to support them.”
Simpson added: “I’m delighted that we’ve been able to launch this new range in the same week that we announced plans to help 1,000 more families buy their own home and my team are ready to support intermediaries and customers alike with their mortgage needs.”
Product manager Dan Barker added: “These changes demonstrate our commitment to supporting borrowers with a range of mortgages that offer choice. Increasing the loan size will help us lend more for the higher loan-to-value cases while still maintaining responsible lending.
“We are also lowering the rates across our entire buy-to-let range to demonstrate our support to landlords at a time where they are experiencing numerous financial changes.”
The Cambridge’s mortgage services and residential and buy-to-let mortgages are available on properties in Bedfordshire, Buckinghamshire, Cambridgeshire, Essex, Hertfordshire, Norfolk, Northamptonshire and Suffolk.