On Thursday September 1, we’ll be reducing selected fixed rates across our residential range and making some changes to our discounted rate products.
Discounted rate products
On Thursday September 1, our Standard Variable Rate, Offset Variable Rate and Offset Variable Investment Housing Loan Rate will all reduce by 0.25%.
To coincide with this change the initial rates will be maintained and we will be reducing the discount from the variable rate on all discounted products by 0.25%.
For example, our 2 year 75% LTV residential discounted SVR has a discount of 2.96% from the SVR of 4.95% giving an initial payable rate of 1.99%. On 1 September this product will be removed and replaced with a discount of 2.71% from the new SVR of 4.70% giving an initial payable rate of 1.99%.
Applications must be submitted before 5pm Wednesday 31 August to secure the current discount from the variable rate.
Fixed rate reductions
Residential 2 year fixed rate products
- 60% LTV with a reduced rate of 1.49%
- 75% LTV with a reduced rate of 1.59%
- 80% LTV with a reduced rate of 1.69%
- 85% LTV with a reduced rate of 1.89%
- 60% LTV fee offer with a reduced rate of 1.79%
- 75% LTV interest only with a reduced rate of 1.89%
- 80% LTV interest only with a reduced rate of 1.99%
- 95% LTV first time buyer with a reduced rate of 3.69%
Large loan (£1m+) - 75% LTV with a reduced rate of 1.89%
- 80% LTV with a reduced rate of 1.99%
- 75% LTV interest only with a reduced rate of 2.09%
- 80% LTV interest only with a reduced rate of 2.19%
Residential 3 year fixed rate products
- 90% LTV first time buyer with a reduced rate of 3.09%
- 95% LTV first time buyer with a reduced rate of 4.09%
Residential 5 year fixed rate products
- 60% LTV with a reduced rate of 2.09%
- 75% LTV with a reduced rate of 2.29%
- 80% LTV with a reduced rate of 2.39%
- 85% LTV with a reduced rate of 2.59%
- 90% LTV with a reduced rate of 3.09%
- 90% LTV (over £500k) with a reduced rate of 3.49%
- 60% LTV fee offer with a reduced rate of 2.29%
- 75% LTV fee offer with a reduced rate of 2.49%
- 80% LTV fee offer with a reduced rate of 2.59%
- 85% LTV fee offer (max £500k) with a reduced rate of 2.79%
- 90% LTV fee offer (max £500k) with a reduced rate of 3.29%
- 75% LTV interest only with a reduced rate of 2.49%
- 80% LTV interest only with a reduced rate of 2.59%
Large loan (£1m+) - 75% LTV with a reduced rate of 2.39%
- 80% LTV with a reduced rate of 2.49%
- 75% LTV interest only with a reduced rate of 2.59%
- 80% LTV interest only with a reduced rate of 2.69%
Buy to let rate reduction
- 75% LTV offset variable with a reduced rate of 5.10%
You may use the bank’s online application facility to submit cases.
For more information on our products or how we may be able to assist your clients, please contact your relationship partner.
