The new re-mortgage products offer an opportunity to build re-mortgage business, which is unaffected by the stamp duty deadline, and include:
Buy to let
Fee Assisted buy to let re-mortgage range.
- A range of 2 and 5 year fixed rate re-mortgage only products at 65% and 75% LTV
- Flat product fee of £1,995
- One free standard valuation per case
- No application fee
- £250 cashback on completion
- 2-year fixed rates starting at 3.34% and 5-year fixed rates from 3.54%
- Available to individuals and limited companies, for portfolio and non-portfolio landlords.
Due to the reduced upfront costs, these products may appeal to portfolio landlords looking to re-mortgage a number of properties.
HMO Early Re-Mortgage product.
- Early re-mortgage product for standard HMOs of up to 6 occupants
- This product allows landlords to re-mortgage within 6 months of initial purchase
- 5-year fixed rate of 3.99% at 75% LTV with a product fee of 2%
- Product is not available for Large HMOs or MUBs
- Existing early re-mortgage rules will apply, notably we do not allow early re-mortgaging where the original purchase was in cash
This product is designed for landlords who have bought and improved a property and then wish to re-mortgage without waiting the normal 6 months.
Residential
Fee assisted residential re-mortgage range.
- A range of 2 and 5 year fixed rate re-mortgage only products at 65%, 75% and 80% LTV
- 2-year fixed rates from 3.49% and 5-year fixed rates from 3.99%
- A flat product fee of £595
- One free standard valuation per case
- No application fee
- £250 cashback on completion
These products are designed to appeal to owner occupiers looking to re-mortgage their properties without onerous up-front costs.
To find out more, download our latest product guides from our document library or contact your local sales contact to discuss a case.
For intermediaries only