Barclays, Cambridge BS and The Mortgage Lender cut rates – roundup

Barclays, Cambridge BS and The Mortgage Lender cut rates – roundup

Barclays, Cambridge Building Society and The Mortgage Lender (TML) have cut rates across their product ranges.

 

Barclays has reduced rates across its residential and reward ranges by up to five points.

The lender has cut a 100% loan to value (LTV) three-year residential Springboard product to 2.95% from 3%, with no product fee and a maximum loan of £500,000.

It will also offer a 75% LTV five-year purchase and remortgage product, cut from 1.99% to 1.94%. This offer has a product fee of £999 and a maximum loan of £1m.

Within the reward ranges, the lender has also reduced an 85% LTV two-year EMC reward product to 2.08% from 2.09%, as well as an 80% LTV five-year product from 2.23% to 2.19%. Both offers include no product fee.

The changes will be effective from Tuesday 5 March.

 

Cambridge Building Society

Cambridge Building Society has cut rates on their two and five-year fixed rate 95% LTV mortgages, specifically targeted at first and second-time buyers.

The refreshed low deposit residential mortgage range includes a two-year discounted rate product, without early redemption charges, reduced by 0.25% to 2.99% and a five-year fixed rate product reduced by 0.25% to 3.69%.

The range also includes a two year fixed rate product which has been reduced by 0.5% to 2.99%, compared to the industry average of 3.41%.

In addition to reduced rates, The Cambridge are also offering all of their 95% LTV mortgage products with a low £199 booking fee and a free standard valuation.

Dan Barker, product manager at The Cambridge, said: “As well as competitive rates, our focus is always to provide customers with the products and services they need to have a home.”

“Whether it is their first, second or third property, we understand that it can be particularly challenging to be able to afford to move home in today’s housing market. We hope through these low deposit, competitive fixed rate products home buyers can find a solution with The Cambridge”.

The Mortgage Lender

The Mortgage Lender has cut the initial rates on its Ltd company buy-to-let (BTL) range to bring it in line with individual pricing and introduced a Ltd company no fee £500 cashback option.

The changes end the differential pricing between individuals and Ltd company applicants, increase choice and are available to the whole of the market.

There are a range of fee options with rates as low as 3.09% for a two-year fix at 70% LTV. Completion fees range from 1.5% to 4.02% for a five-year fix and £500 cashback.

Its five-year fix with a three-year early repayment charge, and a 1.5% completion fee, starts at 4.05%.

The Mortgage Lender deputy chief executive Peter Beaumont said: “The BTL market is becoming more sophisticated in its structure with borrowers choosing a variety of governance options to run their portfolios.

“That means every borrower and every portfolio is different, that’s just real life. These changes reflect that growing sophistication and give brokers and borrowers an increased range of fee and interest options to suit all circumstances.”

SOURCE: mortgagesolutions

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