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Barclays, Leeds BS and Secure Trust Bank cut fixed rates – roundup

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  • 17/09/2018
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Barclays, Leeds BS and Secure Trust Bank cut fixed rates – roundup
Barclays, Leeds Building Society and Secure Trust Bank have cut interest rates on their mortgage deals.

 

Barclays has reviewed its residential, buy to let and reward ranges with new products which will be available from 18 September.

These changes include reducing rates across its fixed rates, including its two-year fixed at 95% loan to value (LTV) purchase fixed rate as well as reducing the fees on all buy-to-let products from £1,950 to £1,795.

 

Leeds Building Society

Leeds Building Society has cut its five-year fixed rate retirement interest-only mortgage, offering an improved rate for borrowers.

The product is available for borrowers aged between 55 and 80 at a rate of 3.62% available up to 55% LTV with a £999 fee.

Following the Financial Conduct Authority’s (FCA) introduction of specific regulations for the market, the mutual became launched retirement interest-only mortgages in July.

Jaedon Green, Leeds Building Society’s director of product and distribution, said: “The needs of homeowners evolve and change and we expected to see continued interest in this new proposition.

“A positive response to our launch from consumers has confirmed our own research that suggested an unmet demand, which we are able to meet through our partner brokers.

“The increasing number of brokers accredited to advise on retirement interest-only improves accessibility for consumers and so we have reduced our five-year fixed rate  product, making it one of the leading rates in the market currently.”

 

Secure Trust Bank launches ‘cheapest ever’ mortgages

Secure Trust Bank has launched its “cheapest ever” mortgages, with rates starting from 2.04% on its new STB0 product tier.

The new tier is available to clients who have no county court judgments (CCJs) in the last 36 months, but Secure Trust Bank can consider clients with more recent telecoms, utilities or mail order defaults.

Fixed rates are available for two-, three- and five-years, the maximum LTV is 90% and the standard arrangement fee is £1,499.

On a two-year fixed rate, prices start at 2.04% up to 65% LTV. The cheapest available three-year fixed rate is 2.44% up to 65% LTV and the cheapest five-year fixed rate is 3.24% up to 65% LTV.

Products on STB0 are also available for £0 product fee, with rates available from 2.84% up to 65% LTV on a two-year fixed rate, 3.14% on a three-year fixed rate and 3.84% on a five-year fixed rate.

Sales and marketing director at Secure Trust Bank Mortgages, Tony Hall, said the launch of its STB0 product range “marks the introduction of our cheapest ever mortgages.”

He added that its individual underwriting “means that we can help brokers to place cases that might prove too difficult for other lenders, such as the recently self-employed, contract workers, applicants with complex income and older borrowers.”

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