ALL LENDER UPDATES

Accord are increasing rates across our Buy to Let New Business range, existing products will be withdrawn at 8pm on Monday 16th May and new products will be introduced at 9am on Tuesday 17th May.

I am sure you are aware of the current pressures on the economy, and the effect that this is having on both Bank of England Base Rate as well as the cost of funding for lenders in the market more generally. As a result of these ongoing pressures, we are making some changes to the pricing of our fixed rate loans secured by commercial property.

2 Year Discount 2.89% / 3.39% Max LTV Repayment 80% Max LTV Interest-Only/Part & Part 75%

These changes and new products will be live Wednesday 11th May.

With effect from 5.30pm on Tuesday 10 May 2022, we will be increasing our 5 year fixed 75% LTV Buy to Let products.

New Lender with a social conscience

As of Tuesday 10th May 2022, Foundation Home Loans have launched new residential discount products at 75% and 85% LTV, targeted at professionals looking to maximise their income. The new Discount rate products come with one free standard valuation and no ERCs – allowing for greater flexibility.

Accord are withdrawing products across their Accord residential new business range on Tuesday 10th May at 8pm, new products will be available on Wednesday 11th May from 9am.

We’ve decreased our Buy to Let (BTL) stress rate from 5.5% to 4.5%. The changes apply to purchase and re-mortgage with capital raising borrowers, who want to fix their mortgage for 5+ years.

We are delighted to advise that the Bank is reducing interest margins in both Residential and Commercial products (including Mixed-use), with immediate effect, for New to Bank proposals.