TSB cut residential fixed-rate loans by 30 basis points, Keystone Property Finance lowered the selected foreign tax rate by 40bps, and Gatehouse Bank announced a 25bps reduction in its purchase-to-LET purchase plan.
The High Street bank said its two-year shared ownership and shared equity cashing solution will reach up to 30bps from today.
Its five-year shared ownership and shared equity purchase rates have a maximum loan ratio of 15bps between 75% and 95% LTV.
Additionally, among other adjustments, the two-year home purchase price is trimmed between 85% LTV and 90% LTV.
Meanwhile, Keystone Property Finance has selected foreign nationality rates up to 40bps from today.
This reduction applies to standard two-year fixed, currently at 4.14% and up to 65% LTV.
The professional lender has also launched a new 75% LTV product offering 4.29% of expats with a 5.5% arrangement fee.
The range has many other different arrangement rates, with fees ranging from 2.5% to 5.5%, designed for employed and self-employed persons as well as retired applicants.
The company’s foreign products are suitable for individuals and limited liabilities.
“There is an increasing demand for former PAT products and tailor-made collateral,” said Elise Coole, managing director of Keystone Property Finance, adding, “For us, the importance, flexibility and competitiveness are the importance we can achieve when we provide brokers with professional BTL products that meet their needs and clients’ needs.”
Finally, Gatehouse Bank lowered rents and simplified document requirements for the entire landlord’s purchase plan for UK residents.
The lenders said the changes apply to standard and green two- and five-year restoration, as well as clients seeking multiple careers and multi-unit freehold housing financing.
The rents for two-year and five-year BTL products for UK residents are 5.39% and 5.65% respectively.
The bank accepts applications from individuals and SPV limited companies registered in the UK.
It added that there is no minimum income requirement now, for those who provide themselves, and where the applicant is already occupied by the owner, fewer documents are required.
Document requirements can also be mitigated by gifted deposits, with inter-company loans now as an effective source of deposits.
“Today’s change makes the process easier and more effective, while ensuring our products remain competitive and supporting those who want to buy investment properties with us,” said Gemma Donnelly.
