HTB and Keystone adjust rates; Mercantile Trust adds one and five-year fixes – round-up

Rates have been reduced by up to 0.6 per cent and now start from 6.69 per cent for fee plus products, 7.09 per cent for early repayment charge (ERC) plus deals, and 7.29 per cent across its ERC lite offering. 

Its ERC plus products offer a lower rate for a higher ERC, while the ERC lite range is in line with its standard penalty policy but at a higher rate. 

The fee plus range has a five per cent arrangement fee and no lifetime ERC, ERC plus has a two per cent arrangement fee and a one per cent lifetime ERC, the ERC lite has a two per cent arrangement fee and no lifetime ERC. 

HTB has made changes to its loan bandings meaning the above rates are available for all borrowing amounts between £100,000 and £5m. Previously, this was split between £100,000 to £1m and £1m to £5m. 

Chris Daly, managing director, specialist mortgages at HTB, said: “At HTB, we constantly review our pricing and so today have taken the immediate decision to reduce rates in order to help brokers and their landlord clients further. 

“These significant rate cuts of 60 basis points across our ERC Lite, ERC Plus and Fee Plus five-year fixed-rate products, coupled with our expansive criteria and market-leading service levels, will provide advisers with an enhanced, competitive range of options for their landlord clients.” 

Mercantile Trust adds one and five-year fixes 

Mercantile Trust has launched a one and five-year fixed rate to its buy-to-let range. 

The five-year fix has no ERC and a rate of 12.4 per cent, while the one-year fix has a one per cent ERC and is priced at 11.53 per cent. 

The products are available as a first or second charge buy-to-let mortgage up to 75 per cent loan to value (LTV), with loans ranging from £10,000 to £750,000 in England, Wales and Scotland. In Northern Ireland, the maximum LTV is 70 per cent. 

Maeve Ward, director of commercial operations at Mercantile Trust, said: “During a time when many borrowers are dealing with affordability issues, it is really important that lenders provide alternative solutions for brokers and their clients; these new fixed rates provide optionality but with certainty of payment whilst waiting for the market to settle.” 

Keystone raises rates 

Keystone Property Finance has increased rates across all its five-year fixes by between 0.1 to 0.15 per cent. 

Rates begin from 5.09 per cent and apply across its products for houses in multiple occupation (HMO), multi-unit blocks, expat borrowers and holiday let at 65 and 75 per cent LTV.