Nationwide implemented rate cuts of up to 28bps across its two-, three-, five-, and 10-year fixed mortgage range, bringing its lowest available rate to 4.29%, with reductions covering first-time buyers up to 95% LTV, remortgage customers up to 90% LTV, and home movers, including a no-fee two-year fix at 60% LTV for remortgage at 4.83% and a no-fee five-year fix at 90% LTV for first-time buyers at 4.89%.
Rely launched a limited-edition buy-to-let range for non-portfolio landlords covering HMOs and non-HMOs at 55% and 65% LTV, with two-year fixed rates from 3.51% and five-year fixed rates from 4.58%, available for both purchase and remortgage; the lender also cut its minimum buy-to-let loan size to £25,001 across its ranges.
The Mortgage Lender launched a range of limited-edition buy-to-let products and cut rates by up to 15bps across its fixed-rate range, with two-year fixed rates starting from 3.79% and available with either a 5% completion fee or fixed completion fee options, also reducing rates on two-year and five-year fixed products including HMO and multi-loan offerings.
The Mortgage Works dropped rates by up to 26bps on selected two-, three-, and five-year fixed-rate buy-to-let and limited company buy-to-let products for new and existing customers, with reductions including a two-year fixed remortgage rate lowered to 3.49% and a limited company two-year fixed rate dropped to 4.98% with a £3,995 fee at up to 75% LTV.
Vida Homeloans expanded its buy-to-let criteria to accept Special Purpose Vehicle applications where the applicant company is a subsidiary of a parent company, permitting a maximum of two company layers, requiring matching directors across both entities who collectively hold at least 75% of parent company shares, and mandating that all directors and shareholders be named on the mortgage application.