The Nottingham has launched a two-year fixed 90 per cent LTV product and made further residential rate reductions.
The new fee-free 90 per cent LTV offering, which is available for purchase or remortgage, has been introduced at a rate of 2.75 per cent.
Just two weeks after lowering rates across its range, the building society has also announced further cuts of up to 65bps.
The biggest reduction comes on another two-year fixed offering – its fee-free 85 per cent LTV product, which is now priced at 2.25 per cent (was 2.90 per cent).
For those looking for a longer fixed option, The Nottingham’s fee-free five-year 85 per cent LTV mortgage has been reduced to 2.55 per cent from 3.10 per cent.
In the 75 per cent LTV space, their two-year fixed fee-free product is now 1.70 per cent (was 1.80 per cent) and two-year fixed with £999 fees (£199 upfront) is down 5bps to 1.60 per cent.
Nikki Warren-Dean, head of intermediary sales at The Nottingham, said: “It’s important that as we continue to reinvent our mortgage offering that we do so with broker views underpinning the positive steps we take.
She added: “Recent feedback around what people are asking brokers for has definitely played a key role in bringing this latest group of products to life and it is a further example of how we pride ourselves on being #BuiltAroundBrokers.”
Due to increased popularity of other mortgage options, appetite for three and ten-year fixed products has reduced, so The Nottingham has removed those products from its range at present
Zephyr Homeloans, the specialist buy-to-let (BTL) lender owned by Computershare, has reduced rates across the majority of its products.
Zephyr’s new rates for its five-year, fixed-rate, standard property BTL mortgage products start at 3.04 per cent, with rates reduced by up to 0.25 per cent. Its two-year, fixed-rate, standard BTL mortgage products start at 2.84 per cent.
The lender’s rates for specialist new builds, flats above commercial property, houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFBs) now start at 3.43 per cent for a five-year, fixed-rate loan.
Paul Fryers, managing director at ZephyrHomeloans, said: “Our broad range of products offer several, flexible options to fit the individual needs for landlords and property investors. Reducing the rates across a majority of Zephyr’s mortgage products reinforces our position as one of the more competitive lenders in the UK buy-to-let market.”
Zephyr will continue to offer its 80 per cent LTV mortgages, which are exclusively available through its packager channel.
Zephyr Homeloans is a trading name of Topaz Finance Limited, a part of the Computershare Loan Services division of the Computershare group.
Source : property wire