Here’s your weekly round-up of UK mortgage rate and product changes from the past seven days:
Coventry for intermediaries cut selected residential and buy-to-let mortgage rates by up to 12 basis points (bps), introducing deals including a 5.52% five-year fix at 95% LTV with no fee and £500 cashback for first-time buyers, and a 5.23% five-year fix at 75% LTV with a £1,999 fee for limited company buy-to-let.
Fleet Mortgages reintroduced zero-fee and fixed-fee five-year fixed-rate buy-to-let mortgages at 75% LTV, priced at 5.89% and 5.59% respectively, with a £3,999 fee on the lower-rate option, available across Standard and Limited Company ranges for purchase and remortgage.
Foundation relaunched several previously withdrawn products and cut rates on existing multi-unit freehold block and holiday let mortgages, including a 15-basis-point reduction on its MUFB five-year fix to 6.09% and a 10-basis-point cut on its holiday let five-year fix to 6.24%, while introducing five new products spanning F1 and F2 remortgage, ERC3, EPC Saver, and short term let options, all at 75% LTV.
Glenhawk expanded its automated valuation model (AVM) criteria, enabling free AVMs on single residential properties up to 75% LTV in England, Scotland and Wales, with loans up to £1.25 million in London and £750,000 elsewhere.