Here is a summary of some key changes in the mortgage market for this week.
- Buy-to-let specialist, Fleet Mortgages, has announced new rates to expand their range. The lender can look at more accommodating rental stress tests, and has launched a 2-year fixed rate at 2.79% up to 75% loan to value.
- Newcastle Building Society has recently launched a new 2-year fixed rate 'exclusive' to self-employed clients. This is perceived to be an areas where it is difficult to borrow, so it's great to see a lender targeting the self-employed. With the rate at 2.20% up to 60% LTV, Newcastle says it will assess each client who has less than two years self-employment on a case by case basis. Dependent on the company structure they will request accounts, personal tax returns or an accountant's reference.
- Santander have announced a change in lending policy with the launch of a follow on rate. This means that when a fixed rate ends the rate will not revert to the higher variable rate but onto a new rate of 3.25 + Base Rate.
If you would like a mortgage quote or further information call us on 0333 444 1007 and we will refer you to one of our trusted partners.
Check out our property for sale at I Am The Agent, the UK's first online estate agent.
Back To Blog