Mortgage bulletin for week commencing 10 November 

Posted 10 November 2014

Landlord research from buy-to-let lender Paragon Mortgages says that 41% of landlords say demand during Q3 rose, while 3% suggest there is a decline.  51% said there was no change on the previous quarter, according to the research.

Meanwhile, Skipton has launched a refreshed range of fixed-rate buy-to-let products designed to give landlords even more choice across two-, three- and five-year terms. The lender is also now offering a range of fee bands, including no fee, low fee and high fee options at every loan-to-value (LTV) segment.

The new range for purchasers includes a fee-free two-year fixed rate to 60%LTV at 3.09%, a fee-free two-year fixed rate to 75%LTV at 3.79%. There is also a three-year fixed rate to 70% LTV at 3.59% with a fee of £995, while for those wishing to remortgage, the range includes a five-year fixed rate to 60% LTV at 3.99% with a fee of £995.

Kris Brewster, Skipton’s head of products, says: “We now have a total of 54 products in our buy-to-let range to give landlords and potential landlords much more choice and as many different options as possible to help suit their many different needs.”

Chelsea Building Society and Yorkshire Building Society have each launched new two-year fixed-rate mortgages at 65% LTV. The Chelsea, which is part of Yorkshire Building Society Group, is offering a two-year fixed rate of 1.44%, with a £1,545 product fee, while the Yorkshire’s two-year fixed rate, also at 65% LTV, is 1.47% with a £845 product fee. The products are available online and in-branch and Offset mortgages are also available on all products, priced 0.20% higher than their non-offset equivalent.

Leeds Building Society has cut rates on a range of fixed-rate mortgages at 75% and 80% LTV. The new five-year fixed-rate is now 2.89% at 75% LTV with a £799 fee and free standard valuation up to £335, or 2.99% at 80% LTV with a fee of £999. There is also a fee-assisted five-year fixed-rate mortgage up to 80% LTV at 3.09% with a fee of £599. This comes with a free standard valuation up to £335 and fees assisted legal services for standard remortgages. The two-year fixed-rate fee-assisted product is 2.39% up to 75% LTV or 2.44% to 80% LTV. Both two-year deals have a £199 fee, free standard valuation up to £335 and fees-assisted in-house legal services for standard re-mortgages.                        

TSB is offering a range of two-year fixed-rate repayment mortgages for home movers. Loans up to  up to 60% LTV start at 1.79% with fees of £1,995, on loans between £200,000 and £1 million, and the range includes a rate of 2.24% with a fee of £995 on loans between £5,000 and £1m and 2.64% with no product fee on loans between £5,000 and £199,999.

The Co-operative Bank has launched its lowest-ever two-year fixed rate and made reductions across its fixed-rate mortgage range. Borrowers can now choose a two-year fixed rates from 1.54%, three-year fixes from 2.44% and five-year fixed rates from 2.94% - all at 60% LTV with a £999 fee. For those with smaller deposits a wide range of rates are available up to 90% LTV with no fee options, including a three-year fixed rate up to 75% LTV at 2.64% with no fee and a ten-year fixed rate up to 90% 5.39%. 

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