Sunday, January 28, 2024
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Atom bank increases maximum LTV on large commercial mortgages
Landbay adds to like-for-like buy-to-let range
Playter launches custom invoice finance solution with £8m facility
Landlords with expiring mortgage deals will see a faster reduction in buy-to-let rates compared to owner-occupiers.
The average rate on a two-year buy-to-let loan has dropped from 5.95% to 5.5%, resulting in lower monthly repayments. Coventry Building Society, Lloyds, NatWest, Paragon Bank, and The Mortgage Works have all recently cut rates.
The cheapest two-year fix is now 3.54%, while the cheapest five-year fix is 3.84%, both offered by The Mortgage Works. In addition to rate cuts, NatWest, Paragon, and The Mortgage Works have also reduced their stress test rates, making it easier for landlords to remortgage or borrow more. Santander will follow suit with a rate reduction on Tuesday.
Call Trinity Specialist Finance to secure a mortgage on 020 7016 6151 or book a consultation
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