"With up to 60bps off our two-year fixed at 90% LTV and rates now starting from 1.89% for our two-year discount at 80% LTV, we think these rate reductions will be incredibly popular with brokers."
The Society is reducing rates on mortgages up to 80% LTV for purchase or remortgage and up to 95% LTV for house purchase only. Highlights include a two-year fixed rate at 90% LTV which has reduced by 60bps to 2.69%.
The move will make it cheaper for brokers with clients seeking to access some of its key criteria on products up to 80% LTV, such as capital raising, debt consolidation and interest-only with property downsizing (subject to age and LTV restrictions).
The two new 95% LTV products include a two-year discounted rate at 2.99% variable as well as a five-year fixed rate at 3.49%. Both products offer a free valuation together with a £199 application fee and a £300 completion fee.
Head of mortgage sales, Andy Alvarez, said: “There are several lenders appearing to offer good deals at the moment but the rates themselves do not always tell the full story. For many borrowers in today’s housing market, it’s important that behind the headline rate there is a lender that seeks to be flexible and accommodating.
"With up to 60bps off our two-year fixed at 90% LTV and rates now starting from 1.89% for our two-year discount at 80% LTV, we think these rate reductions will be incredibly popular with brokers. We’re looking forward to being able to help more of our intermediary partners realise the benefits that we provide for their clients.”
