From today, our percentage product fees have been:
- halved to 1% on all our two-year fixed-rate products
- reduced by half a percent to just 1.5% on all five-year F1 and F2 standard property products
As well as the fee reductions, we are making a number of rate reductions by up to 0.25% for several buy to let products including our HMO five-year fix at 75% LTV reduced to 3.44%, the Large HMO/MUB five-year fix at 75% LTV reduced to 3.54% and the Short-term let five-year fix at 65% LTV reduced to 3.74%.
We have also launched a new Short Term Let five-year fix which comes with a flat fee of £1,495 – it has options at both 65% LTV (3.94%) and 75% LTV (4.29%).
George Gee, our Commercial Director, said:
“We have been able to significantly reduce the product fees across our two- and five-year fixed rates whilst maintaining, and in many cases, even reducing, rates. This new buy-to-let product range with lower percentage product fees is designed to reduce the total cost of the loan for buy-to-let borrowers.
“Due to the popularity of flat fees across the rest of our range we’ve also introduced a five-year fix which comes with a £1,495 fee for those purchasing or remortgaging short-term lets, again designed to keep down the overall cost of the loan.”
FOR INTERMEDIARIES ONLY