Leeds Building Society launched a 98% LTV mortgage product for first-time buyers, available at a five-year fixed rate of 5.65% with a minimum £5,000 deposit and maximum loan of £500,000, enabling borrowing of up to five times household income for applicants earning at least £30,000, with no completion fee and a free standard valuation.
Masthaven Finance overhauled its refurbishment bridging range, introducing enhanced criteria, reduced pricing and increased LTV bands across its non-regulated and regulated products; the lender also cut rates across its residential and specialist finance ranges and introduced a new 60% LTV bracket.
Nationwide increased selected fixed and tracker mortgage rates by up to 35bps, affecting products across its First Time Buyer, Home Mover, Existing Customers Moving Home, and Remortgage ranges. The lender also lowered the eligible income required for joint applicants from £100,000 to £75,000. It has also expanded its LTI lending criteria, allowing eligible applicants to borrow up to six times their income.
NatWest raised mortgage rates by up to 27bps across its residential range, with its lowest standard purchase rate set at 4.30% for a two-year fix at 60% LTV with a £995 fee, first-time buyer rates starting at 4.65% for a two-year fix at 85% LTV, and its highest LTV offering at 95% carrying rates from 5.16% to 5.30% fee-free.
United Trust Bank reduced rates across its regulated and unregulated bridging ranges by up to 8bps, with regulated bridging now starting from 0.57% per month and unregulated bridging from 0.63% per month, covering standard, light refurbishment and second charge products.