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OSB withdraws 65 per cent BTL deals; Bath BS pulls select five-year fixes – round-up

  • 15/06/2023
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OSB withdraws 65 per cent BTL deals; Bath BS pulls select five-year fixes – round-up
OSB has pulled all of its buy-to-let mortgages at 65 per cent loan to value (LTV) from its Interbay brand.

The products were removed at 5pm on Wednesday. 

The lender has also increased its minimum loan amount to £2m for buy-to-let mortgages at 75 per cent LTV, as well as its commercial and semi-commercial products. 

OSB said if brokers have submitted an agreement in principle, it will honour them as long as fees and supporting documents are uploaded before 5pm on 20 June. 

Adrian Moloney, group intermediary director at OSB Group, said: “OSB Group has continued to offer a range of products across their three lending brands Precise Mortgages, Kent Reliance for Intermediaries and InterBay at a time when other lenders have withdrawn.” 

“The market is obviously changing quickly and we’ve made the decision to withdraw our buy-to-let mortgage range up to 65 per cent LTV from InterBay to protect service levels and ensure our brokers get the support they need.” 


Bath BS withdraws five-year fixes 

Bath Building Society has removed select five-year fixes from its range. 

This includes a product at 80 per cent LTV priced at 5.19 per cent, an 85 per cent LTV product with a rate of 5.69 per cent, and a 95 per cent LTV deal with a rate of 5.69 per cent. 

Ben Hutchings, head of mortgage sales at Bath Building Society, said: “We have had to temporarily withdraw fixed rates due to volatility in swap rates.  

“We appreciate the negative impact this can have and we have attempted to minimise strain on intermediaries and customers by allowing two working days to submit a full mortgage application from decision in principle and a further 10 working days to fully satisfy our packaging requirements.” 

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