You are here: Home - Mortgages - Buy To Let - News -

Lenders move to refresh mortgage ranges

Written by:
Banks and building societies have moved to refresh their mortgage product ranges, amid increased competition in the market.

With remortgage levels at a post-recession high, many lenders have looked to reduce rates to ensnare more business.

Coventry Building Society is leading the way and has launched a two-year fix at 1.99%, this is available to borrowers with a 25% deposit.

Five-year fixes on offer from the mutual now include a 75% LTV at 2.79% and a 90% LTV at 3.79%.

Elsewhere, Barclays has launched a 1.53% two-year fix and a 2.33% five-year fix, both at 60% LTV.

Homemovers looking to fix for ten years can access TSB’s 90% loan-to-value product, which has been cut from 4.94% to 4.44%. The 85% loan-to-value equivalent has also been reduced, from 4.19% to 4.09%.

However, it was not all good news for borrowers, with many lenders moving to increase rates ahead of predicted base rate rises.

At TSB its 60% LTV rates have been upped from 3.19% to 3.34% while 75% LTV rates have been raised from 3.39% to 3.49%. In addition its 80% LTV rates have climbed from 3.74% to 3.79%.

NatWest has also followed suit, increasing rates by as much as 0.14% across both its fixed and tracker range.

NatWest’s Paul Kane said: “Despite these small increases, our deals still represent great value. We are committed to offering a competitive product range so I am pleased to report that all our other rates remain unchanged.”

Darin Landon, distribution director at Coventry Building Society, said: “We’re delighted to reduce rates across our residential range of mortgages, with a variety of LTVs, a range of arrangement fee options and the stability of a fixed rate.”

There are 0 Comment(s)

If you wish to comment without signing in, click your cursor in the top box and tick the 'Sign in as a guest' box at the bottom.

The savings accounts paying the most interest

It’s time to get your finances in shape, and moving your cash savings to a higher paying deal is a good plac...

Everything you need to know about being furloughed

Few people had heard of ‘furlough’ before March 2020, but the coronavirus pandemic thrust the idea of bein...

The experts’ guide to sorting out your personal finances in 2021

From opting to ‘low spend’ months to imposing your own ‘cooling-off period’, industry experts reveal t...

What will happen if rates change

How your finances will be impacted by a rise in interest rates.

Regular Savings Calculator

Small regular contributions can build up nicely over time.

Online Savings Calculator

Work out how your online savings can build over time.

Having a baby and your finances: seven top tips

We’re guessing the Duchess of Cambridge won’t be fretting about maternity pay or whether she’ll still be...

Protecting family wealth: 10 tips for cutting inheritance tax

Inheritance tax - sometimes known as 'death tax' - can cause even more heartache for bereaved families. But th...

Travel insurance: Five tips to ensure a successful claim

Ahead of your summer holiday, it’s important to make sure you have the right level of travel cover or you co...

Money Tips of the Week