Our residential range is designed to meet the needs of borrowers with complex income or employment such as the recently self-employed and those looking to optimise their affordability by using up to 100% of a wide range of income types including 100% of bonus, overtime and/or commission, retirement and investment incomes.
We are cutting rates, by up to 50 basis points, on both our residential two- and five-year fixed rate mortgages.
- Residential two-year fix at 65% LTV now at 2.89% (from 2.99%) and 75% LTV at 3.19% (from 3.29%); five-year fix at 65% LTV now 3.39% (from 3.49%) and 75% LTV at 3.54% (from 3.69%). Products come with a £995 fee.
- Fee-assisted residential remortgages include a two-year fix at 65% LTV now 3.19% (from 3.49%) and 75% LTV at 3.39% (from 3.89%); five-year fix at 65% LTV now 3.59% (from 3.99%) and at 75% LTV 3.79% (from 4.29%). Products come with a reduced £595 fee, no application fee, a free standard valuation and £250 cashback upon completion.
We accept retained profits and one year’s accounts for the self-employed, and cater for borrowers with multiple, or unusual, income sources including the more recently self-employed, and employed clients with high commissions or bonuses.
Rates have also been cut on our two- and five-year buy to let fixed-rate mortgages; the products are designed to support landlords looking for a more generous loan for their rent, as ICR is calculated using the pay-rate on our five-year fixes, or the notional rate of 5.5% for shorter rates, and stress-tested at 125% for limited companies and basic-rate taxpayers, and 145% for others.
Selected cuts on our buy to let range include:
- Two-year fixed rate which now starts at 2.89% up to 65% LTV (down from 3.09%)
- Five-year fix up to 75% LTV which has been reduced to 3.34% from 3.44%
- 80% LTV two-year fixed product which now has a sub-4% rate of 3.99% (down from 4.09%).
Additionally, the buy to let 5-year fixed rate for Large Loans over £500,000 up to 65% LTV with a 2.25% fee has been reduced by 10bps to 3.09%; and the buy to let 2- and 5-year remortgage specials with a 1% product fee have also been reduced, now starting from 3.29% and come with incentives including no application fee, a free standard valuation and £250 cashback upon completion.
For intermediaries only.