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New business and product transfer rate increases
On Tuesday 30 April, we’re increasing selected residential fixed rates in the new business and product transfer ranges. We’re also increasing all Buy to Let fixed rates in the new business range and selected Buy to Let fixed rates in the product transfer range.
There will be no change to tracker rates in the new business range or Buy to Let tracker rates in the product transfer range.
New business
- Selected residential fixed rates increasing by between 0.04% and 0.20% for purchases and remortgages.
- All large loan fixed rates increasing by 0.10%.
- All Buy to Let fixed rates increasing by between 0.05% and 0.25%.
Product transfers
- Selected residential fixed and tracker rates increasing by between 0.04% and 0.20%.
- Selected Buy to Let fixed rates increasing by between 0.05% and 0.17%.
- For clients who want to change or cancel their new deal.
- If they haven’t accepted their product transfer offer yet, you can select a new product in the online mortgage transfer service for them and a new offer will be issued. Please make sure your client accepts the correct offer for the deal they wish to book.
- If they’ve already accepted their new deal, you can change to a different deal or cancel the one that’s already booked for them. You must do this at least 14 days before their new deal starts. Please see the ‘Product transfer cancellation process’ section on the Product transfers page.
- Whilst a product transfer is pending, your client cannot make any other changes to their mortgage until that new deal has started. This includes a switch to interest only for 6 months or a term increase under the Mortgage Charter, and other changes such as overpayments.
Further information
- Full details of our new business range can be found in Rate Bulletin (Issue 12). You’ll find this on our Latest mortgage rates page from Tuesday 30 April.
- From Tuesday 30 April you can log on to our online mortgage transfer service in Introducer Internet to view your client’s choice of rates. You won’t find these on sourcing systems.
- You must submit your new business and product transfer applications on our current ranges by 10pm on Monday 29 April.
New business fixed rate increases
On Friday 3 May, we’re increasing selected residential fixed rates and all Buy to Let fixed rates in the new business range.
There will be no change to large loan or tracker rates and the product transfer range.
New business
- Selected residential fixed rates increasing by between 0.02% and 0.26% for purchases and remortgages.
- All Buy to Let fixed rates increasing by between 0.05% and 0.22%.
Further information
- Full details of our new business range can be found in Rate Bulletin (Issue 13). You’ll find this on our Latest mortgage rates page from Friday 3 May.
- You must submit your new business applications on our current ranges by 10pm on Thursday 2 May