"It also provides a solution to borrowers who buy a new principal residence while renting out their existing property and have attracted a SDLT surcharge."
The revised buy-to-let product now benefits from a lower two-year fixed rate basis, while the new self-build products deliver a revised maximum loan size of £1 million.
Self-build discount for term products start from 4.74% up to 75% at end value and 80% at land value, while a two-year fixed rate buy-to-let product is now available at 3.69% up to 70% LTV.
Commercial director, Sam Ward, commented: “We are delighted to announce the latest enhancements to our buy-to-let and self-build products. Not only does the new fixed rate buy-to-let product benefit from a lower rate, but it also provides a solution to borrowers who buy a new principal residence while renting out their existing property and have attracted a SDLT surcharge. With our new fixed rate product which has an ERC of only two years, customers still have the option of selling before the end of year three to claim back the surcharge.
"On the self-build side, we have increased our maximum loan to £1 million as research has shown that there is increasing demand for self-build products with larger loan sizes.”
