Coventry for intermediaries – the broker facing arm of Coventry Building Society – has cut all of its limited company BTL rates by up to 0.19 percentage points. The cuts are on both remortgage and purchases applications and include two- and five-year fixed rates.
Jonathan Stinton, head of intermediary relationships, at Coventry Building Society, says: “We’re seeing more and more landlords turning to limited companies to manage their portfolios. Our latest rate reductions are designed to give them more choice and value in a market that’s still evolving.”
West Brom Building Society has revealed rate reductions across its two- and three-year fixed mortgage ranges, with cuts of up to 0.33%.
In the two-year range, the £999 fee-paying 80% LTV remortgage product is now available at 4.25%, while the equivalent purchase option has been reduced to 4.10%. The no-fee purchase alternative has also been cut, now at 4.30%.
Two interest only products have also been added to the two-year range at 60% LTV with a £999 fee, for purchase at 4.10% and remortgage at 4.25% respectively. Changes have also been made to the three-year range. New 80% LTV options for both purchase and remortgage are being introduced, with pricing from 4.30% and 4.36% respectively.
West Brom BS product manager Aran Mann comments: “We know customers are still navigating uncertainty, so we’re focused on delivering strong options across the board, whether it’s a first-time buyer looking for stability or a homeowner seeking a better deal. Our goal is to support them with rates that meet their needs in the moments that matter.”
MeanwhileNewcastle for Intermediaries has announced rate reductions of up to 0.30% across its Large Loans mortgage proposition.
Available now, the revised Large Loans range offers enhanced flexibility for clients requiring mortgages of up to £3m, with loan-to-value (LTV) ratios available up to 85%. With rates starting from 4.45% the range allows for consideration of up to 100% bonus / commission – subject to underwriter discretion – supports up to 10% overpayments and allows enhanced income multiples of up to 5.5x.
Michelle Ash, national account manager at Newcastle Building Society, says: “As the Large Loans market grows, we want to ensure that we support our broker partners not only with competitive rates, but with an expert-led approach and service they can trust. We understand the very specific needs of clients with higher or complex incomes and high-value borrowing requirements, and are proud to be able to reduce rates across our Large Loans proposition in order to offer brokers and their clients more choice, flexibility and value.”
Contact one of our highly experienced mortgage advisors today on 0121 500 6316 to discuss your mortgage needs.
