We have refreshed our Buy to let range. All old Buy to Let products (including exclusives) have been withdrawn and replaced with this update.

This is a minor update that is intended to ensure that we maintain affordability on our short term products when assessed against our competitors, in response to next week’s LIBOR reset.

The changes to be made to the range are as follows:

• Minor rate reductions for LIBOR-linked rates – The margin of all LIBOR trackers (and reversion rates) will be decreased by up to 0.10%.  Combined with next week’s LIBOR reset, the effect on the total rate is expected to be broadly neutral overall.
• Buy to Let Minimum Loan Size – The minimum loan size for all Buy to Let products (including Limited Company & HMO) will be increase to £55,000.

Please note that on this occasion, to avoid confusion, we have amended the product guide to feature the margin over LIBOR only for all trackers and reversion rates rather than the total rate.  This is because LIBOR is subject to change at the same time as this range goes live.