For existing customers, mortgage projects have been reduced by 0.35%.
The lender’s switcher BTL is fixed for two years, with no need to obtain a 65% loan value (LTV) reduced by 0.25% to 4.89%, while the two-year repair fee is 3%, up to 65% LTV% reduced 0.15% to 3.59%.
The Switter BTL Limited Company is a five-year fixed fee of £1,495, with up to 75% lowering LTV by 0.15% to 5.29%.
Meanwhile, multiple occupancy switches BTL houses have no product fees and can get up to 75% of LTV, a reduction of 0.35% to 6.44%.
“These latest reductions demonstrate that we have been committed to supporting our existing landlords in the hope of managing their cash flows with fixed interest rates,” said Joe Avarne, senior manager of mortgage staff.
Elsewhere, Gatehouse Bank has lowered the rent of selected home purchase plans and BTL products for new and existing customers in the UK.
The reduction will cover the selected and green fixed periods of selected standards and green fixed periods for individual applicants and UK registered Special Purpose Limited.
For UK residents seeking home purchase program products, rents for two-year and five-year products will be reduced by 0.25% with a maximum financing (FTV) of 80%.
For UK residents seeking BTL products and UK-registered SPVs Limited, rents for two-year fixed-term products will be reduced by 0.10%, rents for five-year fixed-term products will be 0.20%, with a maximum of 80% FTV.
In addition, Gatehouse Bank has updated its two-year fixed-term purchase plan and pressure rates for BTL products.
“We constantly review our home financial products to ensure they are best suited to customers’ needs and are competitive in the market,” commented Gemma Donnelly, head of account proposition at Gatehouse Bank.
“Today’s changes will benefit new and existing UK clients, ultimately helping more people achieve their home ownership goals.”
