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Sainsbury’s cuts buy-to-let rates as Investec launches 10-year fix for landlords

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  • 21/08/2018
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Sainsbury’s cuts buy-to-let rates as Investec launches 10-year fix for landlords
Sainsbury’s Bank and Investec Private Bank have updated their buy-to-let product ranges, as mortgage competition for landlords remains strong.

 

Sainsbury’s Bank has reduced its buy-to-let two-year fixed rate remortgages.

This means the lender is now offering a two-year fixed rate starting from 1.40% at 60% loan to value (LTV) with a £1,995 product fee.

At 75% LTV, rates have been reduced to 1.67% with a £1,995 product fee, to 1.78% with a £995 product fee and to 2.30% with no product fee.

These offers are only available via the broker network for a limited time.

Catherine More, head of mortgages at Sainsbury’s Bank, said: “The buy to let sector continues to weather a number of headwinds, yet despite this it remains one of the most resilient sectors, providing tenants with much-needed homes.

“We believe brokers have a vital role to play in giving customers access to a wider range of lenders and financing options and that this is helping to ensure the buy to let market continues to thrive and grow.”

 

Investec Private Bank

Investec Private Bank has launched a 10-year fixed rate buy-to-let product at 3.69%.

The deal is aimed at high net worth clients, who have more complex lending needs than typical borrowers.

With this longer-term fixed product, customers can overpay by up to 10% per year.

Peter Izard, business development manager at Investec Private Bank, said that despite uncertainty in the buy-to-let market and the impact of Brexit, it continues to show resilience and the fundamentals remain compelling.

He added: “We have seen high net worth clients reassessing their strategies and adjusting their portfolios, enabling the asset class to continue providing them with long term capital potential, although possibly with slower growth.

“In particular, we have seen high net worth clients looking past the tax changes while focusing on buy-to-let as an excellent underlying investment opportunity to provide positive returns for their portfolios.

“Listening to our clients’ requirements, there was strong demand for a longer-term fixed product, particularly with future interest rate rises anticipated.”

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