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Sainsbury’s, Newbury and Vida change mortgage rates – roundup

  • 26/07/2018
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Sainsbury’s, Newbury and Vida change mortgage rates – roundup
A number of lenders have changed mortgage rates and added new products this week.



Sainsbury’s Bank

The lender has increased rates across a range of purchase and remortgage deals.

In the purchase range, the bank’s 90% loan to value (LTV ) two-year fixed rate has increased to 2.10% with no product fee and £250 cashback.

At 95% LTV the lender increased rates to 3.39% with no product fee and £500 cashback and to 3.95% with no product fee and £1,000 cashback.

The five-year fixed rate at 90% LTV increased to 2.59% with no product fee and £250 cashback.

In the remortgage range, the two-year fixed rate with 75% LTV increased to 1.57%, with a £995 product fee and £250 cashback or fee assisted legals.

The five-year fixed rate at 60% LTV increased to 1.92% with a £995 product fee and £250 cashback or fee assisted legals, while at 75% LTV the rate increased to 1.95% with a £995 product fee and £250 cashback or fee assisted legals.


Newbury Building Society

Newbury Building Society has reduced the rate of one its current mortgage products and has also introduced three products to its shared ownership offering.

The three-year fixed rate with 95% LTV has been reduced from 4.29% to 3.99%.

The company has also added to its shared ownership range three and five-year fixed rates at 90% LTV, with respective rates of 3.49% and 4.29%. It has also introduced three year discount rate at 2.49%, with 90% LTV.

Roger Knight, lending manager at Newbury Building Society, said: “Our understanding in providing funding for Shared Ownership mortgages means we fully recognise what works for our customers and therefore, we introduce products which reflect their needs.”

“We are committed to providing accessible mortgages for those looking to purchase through the Shared Ownership scheme with a minimum deposit.

“We’re delighted to further expand our Shared Ownership offering and we hope to help more people across England and Wales take their first step onto the property ladder.”


The Cambridge unveils exclusive fixed-rate deal with Sesame and PMS

The Cambridge has offered Sesame and PMS, part of Sesame Bankhall Group, a new three-year residential exclusive product.

This is a three-year fixed rate residential mortgage starting at 1.99% for an LTV up to 80%, with an alternative rate of 2.29% for loans with a 90% LTV.

Additionally, a three-year fixed rate buy to let mortgage product at 2.49% with a LTV of up to 75%, will also be available to Sesame and PMS, alongside to Legal and General Mortgage Club as a shared exclusive.

Tracy Simpson, head of lending at The Cambridge, said: “These rates are highly competitive and we’re delighted to be able to work with Sesame and PMS to offer these exclusive products. We’ve worked hard to create products for customers that are looking for a great low rate with the certainty of a fixed product and we look forward to seeing how popular they are.”

Jane Benjamin, director at SBG, commented: “We’re extremely pleased that The Cambridge has chosen us to distribute this exclusive product as it adds further value and diversity to the product range our advisers can provide their clients.”


Vida reduces five-year fixed buy-to-let rates by up to 0.75%

Vida Homeloans has reduced several five-year fixed rate buy-to-let (BTL) products by up to 0.75%, including five-year BTL Expat rates, available for customers located in over 190 countries.

The cuts apply to HMOs, Multi-Unit Blocks, limited companies, loans above £1m and first-time buyers/first-time landlords. The current reduced fee of 1% also applies on these new rates.

These changes follow a series of product launches and updates from Vida, including the recent introduction of its Helping Hand mortgage, the first Joint Borrower Sole Proprietor mortgage from a specialist lender.

Louisa Sedgwick, director of sales and mortgages at Vida Homeloans, said: “Vida Homeloans is always keen to offer the best value to both residential and buy-to-let customers, and that commitment is shown with this change to our five-year fixed rate BTL product.

“Our aim at Vida is to allow mortgage brokers to secure the best deal for their landlord clients. The fact that specialist niches such as limited companies, HMOs and Expats are included makes them even more appealing, and we are confident that we will see a positive response from brokers.”

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