The changes to TSB’s mortgage rates come into force from 23 April.
Within its product transfer range, residential two-year fixed rates up to 60% loan to value (LTV) will be cut by around 0.2%. Similar changes will also be made to deals from 75% to 80% LTV and from 85% to 120% LTV.
Residential three-year fixed rates up to 60% LTV and from 75% to 80% LTV will also be reduced by around 0.2%, along with residential five-year fixed rates.
Buy-to-let (BTL) two-year fixed rates will decrease by up to 0.6%, while five-year fixed rates up to 80% LTV will go down by around 0.25%.
On the additional borrowing side, residential two- and three-year fixed rates up to 60% LTV and from 75% to 80% LTV will reduce by up to 0.2%.
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Residential five-year fixed rates will fall by around 0.1%, while two- and five-year BTL fixed rates will decrease by around 0.25%.
Aldermore adds limited-edition deals and lowers new and existing customer rates
Aldermore has introduced limited-edition BTL products and lowered rates in its BTL and residential owner-occupier ranges for new and existing customers.
For new customers, residential owner-occupier deals have been lowered by around 0.3%.
At Level 1 up to 80% LTV, all fixed rates will fall by up to 0.15% and rates start from 5.29%. From 80% to 95% LTV, all fixed rates will decrease by up to 0.2%. Pricing for the latter begins from 5.89%.
Going up to Level 2, all fixed rates from 80% to 90% LTV will decrease by around 0.3%, with pricing starting from 6.39%.
All Level 2 and 3 fixed rates up to 80% LTV will decrease by around 0.1% and rates begin from 5.79%.
In its BTL range for new customers, Aldermore has introduced two- and five-year deals for individual and company landlords with single residential investment properties.
This includes a limited-edition two-year fixed rate with a 5% fee up to 75% LTV at 3.59% and a five-year fixed rate at 4.69%.
Aldermore has also added two- and five-year fixed rates up to 80% LTV with a 1.5% fee, with pricing beginning from 5.69%.
Aldermore has also brought out limited-edition deals for multi-properties for individual and company landlords with residential investment properties.
Examples include two- and five-year fixed rates up to 75% LTV with a 5% fee at 3.54% and 4.64%.
The lender has also introduced a limited-edition two-year fixed rate deal for houses in multiple occupation (HMOs) up to six bedrooms and multi-unit freehold up to four units, including multi-property. The product comes with a 5% fee at 3.99% up to 75% LTV.
There is also a limited-edition two-year fixed rate with a 5% fee at 3.94% up to 75% LTV for multi-property products for individual and company landlords with HMO and multi-unit freehold portfolios.
For existing customers, all fixed rates in its residential owner-occupier range will reduce by up to 0.2% and rates begin from 5.49%.
The firm has also launched two- and five-year fixed rates at 90% LTV with zero fees, with prices beginning from 6.34%.
Jon Cooper, director of mortgages at Aldermore, said: “In the wake of the market volatility we’ve seen over recent weeks, we’re reducing our rates across a wide range of buy-to-let and residential owner-occupier mortgages, whilst introducing our latest wave of limited-edition buy-to-let products. We’re always striving to offer significant choice as well as compelling value to our intermediary partners and their clients.”
Fleet Mortgages reduces BTL rates
Fleet Mortgages has lowered select two- and five-year fixed rates by up to 0.15% across its standard, limited company and HMO and multi-unit freehold block (MUFB) ranges.
For example, its standard or limited company two-year fixed purchase or remortgage rate for properties with an Energy Performance Certificate (EPC) between A and C at 75% LTV has been cut from 4.29% to 4.14%.
The equivalent non-EPC A-C deal has been reduced from 4.39% to 4.24%, with both coming with a 3% fee.
Fleet Mortgages’ standard and limited company two-year fixed rate with a £5,499 fee has decreased from 4.89% to 4.74%.
Its two-year HMO/MUFB fixed rate for EPC A-C properties has gone down from 4.49% to 4.34% and its equivalent non-EPC A-C product has been cut from 4.59% to 4.44%. The £1,999 fixed-fee product rate has been cut from 5.79% to 5.64%.
Fleet Mortgages has also cut rates across its five-year fixes at both 65% and 75% LTV.
The new standard/limited company 65% LTV rates with zero completion fees have been lowered from 5.49% to 5.34%, while its 75% LTV rates with no completion fees have been reduced from 5.59% to 5.44%.
At 75% LTV, five-year fixed rates on its deal for standard or limited company for purchase or remortgage for an EPC rating between A and C have fallen from 4.89% to 4.74%, while the equivalent non-EPC A-C product has been cut from 4.99% to 4.84%. Both come with a 3% fee.
The lender’s five-year HMO/MUFB deal with a 3% fee and EPC A-C product has been cut from 5.29% to 5.14%; the equivalent non-EPC A-C product has been lowered from 5.39% to 5.24%.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “Market rate movements in recent weeks have been trending downwards in anticipation of future cuts by the Bank of England. Last week’s UK inflation figures appear to cement that trend, which may well see action being taken at next month’s MPC meeting.
“Given these movements and the strength of our funding model, Fleet is able to make today’s announcement and we are very pleased to be cutting rates by 15 basis points across a wide variety of both 65% and 75% LTV two- and five-year fixes, with different fee structures – percentage-based, fixed-fee and some with no completion fees at all.”
He continued: “There will always be a strong cohort of landlord borrowers who want monthly mortgage payment certainty, and the only way they can secure this is via a fixed rate mortgage, whether two- or five-year.
“These new rates are highly competitive and should allow advisers to present a positive mortgage picture to their landlord borrower clients, and to help them either fund a new purchase or refinance their current deals to secure their portfolio ambitions over the next two- or five-year period.”
