You are here: Home - News -

Secure Trust launches interest-only range, Newcastle cuts all buy-to-let rates – round-up

by:
  • 06/03/2018
  • 0
Secure Trust launches interest-only range, Newcastle cuts all buy-to-let rates – round-up
Secure Trust Bank has launched an interest-only range and cut rates by up to 0.40%, while Newcastle Intermediaries has reduced all its buy-to-let (BTL) loans by up to 0.10%.

 

Secure Trust has introduced a new range of interest-only and part-and-part residential mortgage products, with rates starting from 2.39%.

Interest-only borrowers will be able to take out mortgages up to a maximum loan-to-value (LTV) of 65%.

While the part-and-part mortgage product is available at up to 85% LTV, if the customer borrows up to 65% on interest-only, and tops up 20% on a repayment basis.

Separately, Secure Trust has also cut rates across the board for its residential range.

Two-year fixes have been reduced by as much as 0.4%, three-year fixes by 0.2%, and five-year fixes by up to 0.3%.

Tony Hall (pictured), head of sales and marketing at Secure Trust Bank Mortgages, said: “We have continued to expand our offer with a comprehensive range of products and new partnership to deliver our services since our launch less than a year ago.

“We hope these changes will make our products even more attractive to brokers looking to help those underserved by high street lenders, putting us in a much more competitive position as we further expand our profile across the UK.”

 

Newcastle Building Society

Newcastle Intermediaries has slashed rates throughout its BTL range, with the largest cuts made in its five-year fixed rate products, including:

  • A five-year fixed rate remortgage deal at 3.45% with no reservation or completion fees, with free standard valuation, free legals or a £500 cashback.
  • A five-year fixed rate deal at 3.25% with a £199 reservation fee and a £800 completion fee.

Both products allow 10% overpayments per annum.

Steve Carruthers, head of mortgage distribution at Newcastle Intermediaries, said: “I’m pleased to announce a number of rate reductions across our whole buy-to-let range, but in particular our popular five-year products.

“We know that while the purchase market has shrunk over recent years our re-mortgage exclusive product will be popular for existing investors looking for long term rate security.”

There are 0 Comment(s)

Comments are closed.

You may also be interested in

Read previous post:
The word 'Tax' assembled upon a calculator
Landlords switch properties into limited companies amid tax relief changes – Kent Reliance

One in five landlords has moved their property into a limited company or transferred ownership to a spouse, in response...

Close