Platform increases rates up to 44 bps in re-pricing


The platform hikes rates up to 44 basis points on some products on Wednesday as part of a major price review.

The lender also reduces the rates on a number of transactions.

In the new line of business of the lender, it makes the following changes:

To integrate

  • Two, three and five year fixed rate products with an LTV of 60% to 75% increased by up to 42 basis points
  • Two year fixed rate products at 80% and 85% LTV with £ 1,499 fee raised up to 3 bps
  • Two, three and five year fixed rate products with 95% LTV reduced by up to 26bp
  • Five year fixed rate product at 60% to 80% LTV with £ 1,999 fee increased up to 32 bps

Purchase assistance

  • Two year fixed rate products at 60% to 75% LTV with £ 999 fee increased up to 34 bps
  • Two year fixed rate product at 60% LTV with £ 0 charge increased by 26 bps
  • Five fixed rate products at 60% to 75% LTV increased up to 44 bps

Professional

  • 2- and 5-year fixed rate products reduced by 10 basis points

The platform is also making the following changes to its product transfer agreements:

  • Two, three and five year fixed rate products with an LTV of 60% to 75% increased up to 42 basis points
  • Two-year fixed rate products at 80% and 85% LTV with a charge of £ 1,249 increased by up to 3 basis points

Buy to Rent

  • Two-year fixed rate products at 60% and 65% LTV with charges of £ 1,499 increased up to 22 bps
  • Two year fixed rate product at 60% LTV with £ 0 fee reduced by 2 bps
  • Five year fixed rate products at 70% and 75% LTV with charge of £ 1,499 reduced by 5 bps
  • Five-year fixed rate product at 60% LTV with a charge of £ 1,499 increased by 5 basis points

Purchase assistance

  • Two, three and five year fixed rate products at 60% LTV increased by up to 44 basis points
  • Three and five year fixed rate products at 75% LTV with charges of £ 499 and £ 0 increased up to 43 bps

Buy to Rent

  • Two year fixed rate product at 60% LTV with £ 0 fee reduced by 2 bps
  • Two-year fixed rate products at 60% and 65% LTV with £ 1,999 fee increased up to 22bp
  • Five year fixed rate products at 70% and 75% LTV with £ 1,999 fee reduced by 5bp
  • Five-year fixed rate product at 60% LTV with a fee of £ 1,999 increased by 5 basis points
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