With effect from Wednesday 2nd November, we’re making some changes to our residential and BTL products.
We’ve listened to your feedback on our residential interest only products and the following changes will be effective from 2nd November:
We’re pleased to announce that we’re removing pricing differentials between our residential interest only and capital repayment products.
All existing residential interest only products will be removed from sale.
Where 75% or 80% LTV interest only products would have been used, the cheaper capital repayment equivalent product will be available for either capital repayment or interest only.
Our 60% LTV products will only be available for capital repayment and so the following products being removed from sale won’t have a direct equivalent:
- 60% LTV 2 year fixed interest only at 1.59%
- 60% LTV 5 year fixed interest only at 2.19%
- 60% LTV 2 year fixed interest only >£1m at 1.79%
- 60% LTV 5 year fixed interest only >£1m at 2.39%
Buy To Let Products
We are making the following changes to a number of our BTL products which are also effective from this date:
- 60% LTV 2 year fixed with an increased rate of 2.69%
- 75% LTV 2 year fixed with an increased rate of 3.19%
- 60% LTV 2 year fixed fee offer with an increased rate of 3.09%
- 75% LTV 2 year fixed fee offer with an increased rate of 3.59%
There are no changes to fees or to any of our other products.
Applications on products being withdrawn or changed must be submitted no later than 5.00pm on Tuesday 1st November.You may use the bank’s online application facility to submit cases.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 Manager.
