The reductions apply to all Buy to Let variable rates, with new rates starting from 4.15% on 65% LTV. The second charge lender has also simplified its proposition by integrating both its Professional and Standard Buy to let products into one single range.
Consumer buy to let loans are a growing part of the second charge enquiries received by brokers and Prestige's new offering will follow its existing BTL pricing and terms.
Darrell Walker, Head of Sales Second Charge & Commercial Lending, OneSavings Bank, said:
“Whether simplifying or expanding our range to meet the needs of brokers and their customers, we’re always looking for ways to enhance Prestige’s offering. These rate cuts are a testament to that commitment and the simplification to a single pricing option will also make things more straightforward for brokers.
“Consumer Buy to Let makes up a growing element of the second charge loan market, and we know it’s something brokers have been keen for Prestige to provide. We’re therefore launching this new proposition to not only enhance our suite of Buy to Let mortgages, but directly meet this broker feedback."
