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New business and product transfer fixed rate reductions
On Thursday 23 May, we’re reducing selected residential and Buy to Let fixed rates in our new business and product transfer ranges.
There will be no change to large loan products or residential and Buy to Let tracker rates.
New business
- Selected residential fixed rates reducing by between 0.02% and 0.27% for purchases and remortgages.
- Selected Buy to Let fixed rates reducing by between 0.04% and 0.20% for purchases and remortgages.
Product transfers
- Selected residential fixed rates reducing by between 0.03% and 0.14%.
- Selected Buy to Let fixed rates reducing by between 0.05% and 0.12%.
- 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.
- As this relaunch is within 14 days of Monday 3 June 2024, you won’t be able to cancel any pre-booked deals due to start on this date.
Further information
- Full details of our new business range can be found in Rate Bulletin (Issue 15). You’ll find this on our Latest mortgage rates page from Thursday 23 May.
- From Thursday 23 May 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 Wednesday 22 May.