New Street has introduced a reduced reversionary rate option and can now offer a lower assessment rate on its five-year fixed products of 4.50%. It has also increased rates on its five-year fixed rate range by 0.1% to 0.4%
The lender has also increased the maximum age at the end of the loan term from 80 to 85, and introduced a free valuation option for both purchase and remortgage.
New Street also made comprehensive changes to its buy-to-let proposition earlier this year, including new lower rental cover starting from 125%. Rental calculations are now tailored to individual circumstances, taking into account a customer’s tax rate, property location, property price and if ground rent and service charges are payable.
