Below is a brief overview of the changes that we have made.
Buy to Let – Product Withdrawal and Replacement
This week we withdrew all Limited Company and HMO products, as well as selected personal ownership products from our Buy to Let product range.
In summary, the changes to the BTL range only impact the reversion rate, and only on selected products. Note that incentive rates will not change:
- All 5-yr fixed rates, the full BTL range (i.e. Personal Ownership, Ltd Co, Ltd Co HMO, HMO) – revert rates increased to 5.99% (LIBOR + 5.18%)
- All short-term products for Ltd Co, Ltd Co HMO, HMO – as per 5-yr fixed rates, revert rates increased to 5.99% (LIBOR + 5.18%)
- All short term Personal Ownership (non HMO) products – there are no changes being made to these products
Residential – Launch of Limited Edition Products in Tier 3 and Tier 4
At the same time we launched 6 Limited Edition Residential products in Tiers 3 and 4.
There are 6 new Residential products, available up to 85% LTV, with rates reduced by up to 0.60% compared to our core range. They will be available alongside the current range – i.e. there are no product withdrawals.
