Halifax Heads Cluster of Lenders Scrambling for Business

A host of lenders have announced cuts to their rates in recent days, with Halifax arguably the most significant.

It’s launched three-year fixed rate deals for residential remortgage, available through brokers: deals start from 5.08 per cent with a £999 fee (60 per cent LTV), rising to 5.64 per cent (90 per cent LTV) again with a £999 fee.        

Newcastle Intermediaries has re-entered the two-year 95 per cent LTV market as a result of broker feedback. It offers a two-year fixed rate at 6.44 per cent up to 95 per cent LTV, available with no fees plus a free standard valuation and £200 cashback. The range also offers a two-year fixed rate at 5.99 per cent up to 95 per cent LTV with a £999 product fee.

TSB is slashing selected two and three-year fixed rates for new borrowers by up to 0.5 per cent. Through brokers it now offers two-year and three-year fixed rates for remortgage starting at 5.19 per cent (60 per cent LTV) with a £995 fee, while two-year fixed rates for purchase will start from 5.09 per cent (60 per cent LTV) with a £995 fee. TSB is also cutting fixed rates on its product transfer deals, for existing customers looking for a new rate, and deals for additional borrowing.

LendInvest has launched a new BTL range, available through its portal. Some are repriced and others reintroduced, including its large HMO products and a new large multi-unit freehold block product.

Meanwhile Leeds Building Society lhas focussed on limited company landlords with the launch of a two-year purchase and remortgage 75 per cent LTV product at 5.19 per cent, with a £5,999 fee; there’s also a five-year purchase and remortgage 80 per cent LTV offer at 6.49 per cent accompanied by a £1,999 fee.  

BM Solutions, the BTL lending division of Lloyds Banking Group, has cut its fixed rate BTL mortgages. It’s offering a fee-free five-year fixed rate for buy to let purchase at 5.41 per cent (65 per cent LTV) or a lower rate of 4.89 per cent but with a hefty £3,999 fee. Its two-year remortgage rate for BTL will start from 6.14 per cent (65 per cent LTV) with no arrangement fee, or at 5.84 per cent with a £1,499 fee. 

App-based Atom Bank has further cut rates across its range by up to 0.25 per cent for two and three-year rates; five year rates are cut by up to 0.15 per cent.

Finally Landbay - the specialist BTL lender - has cut rates on on its standard five-year fixed rate products. The range starts at 4.85 per cent with all products stressed at payrate and available through Landbay’s variable fee structure. With varying LTVs the range handles loans from £30,000 to £1.5m.