Important improvements for FTBs and also for more specialist landlords in this updates this week. It goes without saying that 90% LTV in resi is still a real sweet (or sore) point in the market but there is still plenty of activity with HTB, shared ownership and an expansion of products too.
|Accord||NEW||90% LTV FTB products returned.|
|Barclays||NEW||60% and 75% 2 yr fix released up to £5m. New HTB Released.|
|Buckingham||CHANGE||Purchase & Remo now accepted on Prime, inc FTBs. Some products withdrawn.|
|Chorley||NEW||2 yr discount 2.70% at 85% LTV.|
|Coventry||WITHDRAWN||90% LTV for non-PTs.|
|Foundation||NEW||80% LTV range released. These include ERC free, FTB and 5 year products.|
|Kent Reliance||NEW||100% of Shared Value (75% LTV) shared ownership returns.|
|Loughborough||NEW||New discount products released (Broker Only)|
|Monmouth||NEW||Purchase & Remo fixed rates released at 75% and 90% LTV|
|Nationwide||WITHDRAWN||85% LTV cap on purchases for non-existing borrowers. Low LTV rates drop.|
|Natwest||CHANGE||Rates Improved by 0.30% for existing customers.|
|Newbury||WITHDRAWN||2 Shared Ownership Products|
|Newcastle||WITHDRAWN||A small number of Resi and HTB products|
|RBS||CHANGE||Existing customer rates dropped (some).|
|Saffron||NEW||95% LTV FTB and new 95% LTV JBSP products as well as 90% LTV products. Some withdrawn since.|
|Skipton||WITHDRAWN||Some resi trackers withdrawn and 2 fixed products with cashback withdrawn. Some increases in residential fixed rates.|
|TSB||CHANGE||Revised furlough income and additional income criteria.|
90% LTVs aside, things are improving for FTBs and whilst there are some rate increases and withdrawals, the general movement is positive with lower rates and more products and a slow increase in the average LTV set available.
Buy to Let Mortgages
|Barclays||NEW||Withdrawn from SPVs, MUBs and LLPs. - NEW - Released Portfolio 75% LTV 2yr fix|
|Buckingham||CHANGE||Increased LTV to 70% max loan £750k|
|Bath||NEW||Now considers Ltd Co SPV up to 70% LTV|
|Interbay||CHANGE||MUFBs and HMOs with 6 or less beds available for purchase (as well as remo)|
|Ipswich||WITHDRAW||5yr Fixed rate standard BTL and Ex-Pat rates|
|Kent Reliance||NEW||Expanded BTL purchase range|
|Leeds||CHANGE||Reduced selected BTL and Portfolio rates|
|Loughborough||CHANGE||80% BTL released|
|Precise||NEW||HMO & Ltd co now available on Purchase as well as remo.|
|Skipton||WITHDRAWN||Four BTL trackers withdrawn|
|TMW||WITHDRAWN+||2 Yr trackers withdrawn. Existing customers switch products released for Large Portfolio Landlord BTL and HMO.|
More products so choice and competition is increased. Specialist ranges are enhanced in HMOs and MUBs too. More lenders are now assessing at 125%. Tracker pricing or risk is clearly under pressure.
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