Posts with tag: Mortgage deals

Accord moves to offer cheaper LTV deals for BTL

Published On: January 25, 2017 at 3:19 pm

Tags: Accord,buy to let mortgages,landlords,mortgage,Mortgage deals

Today has seen Accord Buy-to-Let move to reduce some of its buy-to-let rates on selected lower LTV mortgages. In addition, the lender has introduced new 65% LTV options.

The Yorkshire Building Society Group’s intermediary-only lender has slashed rates for landlords at 65% and 75% LTV by up to 0.2%.

Fixed Rates

A two-year fix is now available at just 1.99% for buy-to-let borrowers with a 35% deposit. At 75% LTV, buyers can secure a two-year fix at 2.04%. Both mortgages are available to landlords looking to remortgage or extend their portfolio and come with a £1,995 product fee.

Just last year, Accord moved into the consumer buy-to-let market and now also offers 65% LTV products. These include a 2.54% two-year fix with a £450 product fee.

Accord moves to offer cheaper LTV deals for BTL

Those purchasing a new property will receive £500 cash-back on completion. In addition, remortgaging landlords can pick a free standard valuation and £300 cash-back on completion, or free standard valuation and legal costs.

Value for Monday

Chris Maggs, Accord’s Buy-to-Let Commercial Manager, noted: ‘We are always looking at ways to offer landlords value for money and we believe that these mortgages will prove very attractive thanks to the competitive rates and additional features. We hope brokers looking for competitive deals on buy-to-let property purchases and remortgages will welcome these new rates as much as their clients.’[1]

[1] https://www.landlordtoday.co.uk/breaking-news/2017/1/cheaper-ltv-options-available-from-today-for-btl-landlords

Skipton launches new buy-to-let mortgage products

Published On: August 22, 2016 at 11:44 am

Author: Em Morley

Categories: Finance News

Tags: buy to let mortgages,Buy-to-Let,landlords,Mortgage deals,Skipton

Skipton Building Society has today launched a new range of fixed-rate buy-to-let mortgage products. Interest rates on some products have been lowered by up to 0.5%.

New products include two and five-year term purchase and remortgage deals, which come at 60%, 70% and 75% LTV. Borrowing rates begin at less than 2%.

Fixes

The new two-year fixed rate at 1.89% to 60 LTV and five-year fix at 2.99% up to 70% LTV both come with arrangement fees of £1,995.

For people looking to remortgage, two-year fixed range options include a 2.15% to 60% LTV and a 2.49% at 70% LTV, both with £995 fees.

All remortgage options on offer by Skipton include free valuation and legal fees. All purchase products include a free standard valuation.

Skipton launches new buy-to-let mortgage products

Attractive

According to Kris Brewster, Skipton’s head of products, buy-to-let is still an attractive proposition, especially given the fact that interest rates are now at 0.25%.

Mr Brewster said, ‘we are delighted to launch this refreshed fixed-rate buy-to-let mortgage range offering lower interest rates. In the present environment of ultra-low interest rates, buy-to-let would seem to be a more and more attractive proposition for potential landlords.’[1]

‘Skipton’s buy-to-let deals continue to prove popular and we believe this new range offers great value for purchasers of buy-to-let property and for those wishing to remortgage their portfolio. We have a total of 36 products in our buy-to-let range to give landlords and potential landlords plenty of choice and as many different options as possible to help suit their many different needs,’ he added.[1]

[1] https://www.landlordtoday.co.uk/breaking-news/2016/8/buy-to-let-rates-cut-by-skipton

Mortgage deals for new landlords at record low

Published On: July 5, 2016 at 10:53 am

Author: Em Morley

Categories: Landlord News

Tags: Brexit,buy-to-let landlords,Mortgage deals,new landlords

Fresh research from MoneyFacts has revealed that the proportion of mortgage deals for new landlords has dipped to a record low.

Annually however, the number of buy-to-let mortgage deals has increased.

New deal lows

Just five years ago, the percentage of buy-to-let market available to first-time landlords stood at 82%. Now, this figure has dropped to 75%.

Charlotte Nelson, Finance Expert at Moneyfacts.co.uk, noted, ‘despite all the changes to regulation in the buy-to-let market, the number of buy-to-let mortgages has increased: however, first-time landlords have been missing out on this boost in product numbers. Indeed, the percentage of the market that is available to new landlords has now dropped to just 75%, down by around 10% in two years.’[1]

‘As first-time landlords don’t have a proven track record in managing rental properties, offering them a buy-to-let mortgage poses a greater risk to the lender and it’s this risk that is making the number of first-time landlord deals remain relatively static,’ she continued.[1]

Mortgage deals for new landlords at record low

Regulation

Nelson feels, ‘the additional regulation in the buy-to-let market and the added economic uncertainty following the Brexit vote means even more lenders may reconsider whether first-time landlords are a safe bet. As a result, would-be landlords are likely to face more probing questions about their finances than their more experienced counterparts.’[1]

‘Nevertheless, high rents and rock-bottom mortgage rates mean that buy-to-let is still an attractive proposition for aspiring landlords, particularly those who are fed up with the dismal savings options currently available. However, buy-to-let is not without its risks, so anyone considering it as an option should seek the advice of an independent financial advisor to determine whether it is the best choice for them,’ she concluded.[1]

[1] http://www.propertyreporter.co.uk/landlords/number-of-mortgages-for-new-landlords-at-record-low.html

Leeds Building Society launches buy-to-let fixed rate

Published On: June 14, 2016 at 11:10 am

Author: Em Morley

Categories: Finance News

Tags: Buy-to-Let,buy-to-let fixed rate,Leeds Building Society,Mortgage deals

Leeds Building Society has today announced the launch of a new 2 year buy-to-let fixed rate at 70% LTV.

This new product will be exclusively available to the LSL group, which includes the TMA Mortgage Club.

Buy-to-let fixed rate

The product is to be fixed at 2.49% to August 31^st 2018 and comes with no booking fee. In addition, there is a free valuation for properties worth up to a value of £2m. The scheme also provides fees assisted legal services for remortgages as standard.

David Copland, Director of Mortgage Services at LSL Financial Services, observed, ‘once again we see Leeds Building Society being supportive of Directly Authorised firms and in particular TMA. We are delighted to be offering this product as an exclusive with a reasonable fee, a great rate and a practical rental yield calculation.’[1]

Jaedon Green, Director of Product and Distribution at Leeds Building Society, also noted, ‘the buy-to-let market is going through a lot of change at present and landlords are in a period of adjustments as the new regulations and phased tax changes take effect.

‘We’re mindful of this as we work closely with our intermediary partners to develop products which will assist and appeal to landlords,’ Green added.[1]

Leeds Building Society launches buy-to-let fixed rate

Lows

The news comes after recent research revealed that average fixed rates for two, three and five year mortgage deals in the UK are their lowest levels since 2012.

Underlining the value offered by the new deal from Leeds Building Society, the average two-year fixed rate is currently 2.9%.

[1] http://www.propertyreporter.co.uk/finance/leeds-launches-new-btl-2-year-fix.html

Nationwide to cut rates on mortgage deals

Published On: September 16, 2015 at 11:32 am

Author: Em Morley

Categories: Finance News

Tags: first time buyers,fixed-term mortgages,Mortgage deals

Nationwide has today announced that it is to cut rates on certain fixed rate mortgage deals, namely at 85 and 90% LTV. This includes 5 and 10 year fixed-rates, which will be reduced by up to 0.45%.

In fact, reductions are to be made on a range of 2,3,5 and 10 year fixed rate deals, with rates for those with a 10% deposit beginning at 2.99% for a 2 year fixed rate, with a £999 fee.[1]

Cuts

For buyers able to raise a 15% deposit, rates begin at under 4% for 10 year fixed-rate products and 2.04% for the 2 year fixed rate deal. Both come with a £999 fee.[1]

Moreover, there are reductions to selected deals in the Flexclusive range, which are available to consumers with a Nationwide current account. The 4 year fixed rate mortgage deals, with a deposit of 15%, begin at 2.94%.[1]

Just last week, the building society launched a new range of fixed rate 95% LTV mortgage deals, beginning at under 4%. These products are removed from any scheme, such as Help to Buy and are available to both first-time buyers and home movers. This was the first time that Nationwide has offered 5% deposit mortgages that are not conjoined with any scheme to all customers since 2008. In addition, the new mortgage deals will be offered through brokers and directly through Nationwide themselves.[1]

Nationwide to cut rates on mortgage deals

Competitive

Henry Jordan, Nationwide’s Head of Mortgages, commented, ‘following the launch of Nationwide’s new range of mortgage products for those with a 5% deposit, we are now reducing rates for those with slightly larger deposits of 105 and 15% who are looking for competitive rates and payment security over the short, medium and longer term.’[1]

‘First-time buyers will also continue to qualify for a £500 cashback irrespective of which product they choose. This is in addition to the benefits available on the Flexclusive range of mortgages, including £250 cashback or the option of free valuations and legal fees,’ Jordan added.[1]

[1] http://www.propertyreporter.co.uk/finance/nationwide-announces-cuts-to-ftb-fixes.html

Kensington Mortgages changes buy-to-let range

Published On: July 16, 2015 at 10:59 am

Author: Em Morley

Categories: Landlord News

Tags: buy to let mortgages,landlords,Mortgage deals

Kensington Mortgages has moved to alter some of the products in its buy-to-let range with the introduction of better rental calculations and removing minimum income rules for existing landlords.

Reductions

As part of the changes, rental coverage has been lowered to 125% of 5.50% with the lender also offering new options at 65% LTV with rates from 3.39%. In addition, a limited distribution 80% LTV product has been launched, which are available from 4.29% through a host of networks.[1]

Alongside changes to the buy-to-let range, Kensington Mortgages has made alterations to its residential mortgages, introducing new five-year fixed rate deals and different LTV bandings. The firm hopes that this will give more of a selection to their customers, in order to fulfill changing demands.

Common sense

‘At Kensington, our lending decisions are made by experienced underwriters, not a credit score, and this is true for our buy-to-let mortgages too,’ said Steve Griffiths, head of sales and distribution at Kensington. ‘This means we can take a common sense approach to a landlords’ circumstances, including their portfolio size and income, as well as the property in which they are investing,’ he continued.[1]

Kensington Mortgages changes buy-to-let range

Griffiths went on to state that, ‘in particular, we feel that professional landlords who derive their total income from their property portfolio have limited options currently and we are keen to increase to our presence in this channel.’[1]

‘With these latest changes we are stepping up our game in buy-to-let, providing new options for brokers and their landlord clients,’ he concluded.[1]

[1]https://www.landlordtoday.co.uk/breaking-news/2015/7/kensington-refreshes-buy-to-let-range