The Bank of England Monetary Policy Committee (MPC) meets this week and will announce their latest decision on Thursday. Many commentators expect a further easing of the base rate to a record low of 0.5%.
This potential imminent base rate reduction has prompted many buy-to-let lenders into a flurry of activity shuffling their product ranges in anticipation of the the lower rate.
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One such lender is the Loughborough who have replaced their 4.99% variable rate with a 3 year 4.99% fixed rate and term mortgage. The mortgage still has a fee of £999 and EMONEYFACTS gives a 4 star rating.
Other buy-to-let mortgage product changes last week:
- Platform
- END-DATES on all buy-to-let FIXED RATE MORTGAGES extended to 1.6.12, w.e.f. 2.3.09....more
- 27 Feb 2009
- Post Office®
- ALL buy-to-let FIXED RATES withdrawn & replaced with products of 6.31% & 6.51% to 31.5.12 and 6.30% 6.50% to 31.5.14, w.e.f. 28.2.09....more
- 27 Feb 2009
- Yorkshire Bank
- Buy-to-let STANDARD VARIABLE RATE reduced by 0.15% to 4.59%, w.e.f. 27.2.09....more
- 27 Feb 2009
- Clydesdale Bank
- Buy-to-let STANDARD VARIABLE RATE reduced by 0.15% to 4.59%, w.e.f. 27.2.09....more
- 26 Feb 2009
- Royal Bk of Scot Mtges Direct
- All FIXED RATE MORTGAGES withdrawn & replaced with products of 5.69%, 5.59% & 5.64% to 31.3.11, w.e.f. 24.2.09....more
- 26 Feb 2009
- Shepshed BS
- All buy-to-let MORTGAGE PRODUCTS withdrawn, w.e.f. 25.2.09....more
- 26 Feb 2009
- The Mortgage Works
- NEW buy-to-let VARIABLE BASE RATE TRACKER of 3.89% to 30.4.10 and FIXED RATES of 3.99% to 30.4.10, 4.74%, 5.24%, 5.49%, 5.74% and 5.99% to 30.4.11 and 5.49% & 5.74% to 30.4.12 and for remortgage only: 4.69% to 30.4.10, 5.09%, 5.59% & 5.84% to 30.4.11 and 5.74% & 5.99% to 30.4.12, w.e.f. 26.2.09. ...more
- 26 Feb 2009
- NatWest Mortgage Services
- All FIXED RATE MORTGAGES withdrawn & replaced with NEW FIXED RATE MORTGAGE of 5.69% to 31.3.11, NEW FIXED RATE MORTGAGE requiring the opening of an "Advantage Private" or "Advantage Business" account of 5.59% to 31.3.11 and NEW FIXED RATE MORTGAGE requiring the opening of an "Advantage Gold", Private or Business account of 5.64% to 31.3.11, w.e.f. 24.2.09....more
- 25 Feb 2009
- The Mortgage Times
- All buy-to-let FIXED RATE MORTGAGES funded by BM Solutions, available in Scotland only withdrawn and replaced with NEW FIXED RATE MORTGAGES funded by BM Solutions, available in Scotland only of 4.99% to 1.4.12, 5.29% to 1.4.12 & 5.69% to 1.4.14. All products now have additional £275 completion fee. Redemption deeds fee of £50 will no longer be charged. All w.e.f. 23.2.09....more
- 25 Feb 2009
- Birmingham Midshires Solutions
- ALL buy-to-let MORTGAGE PRODUCTS except 'House 2 House' 5.49% FIXED RATE withdrawn & replaced with new FIXED RATES of 4.99% & 5.29% to 1.4.12 & 5.69% to 1.4.14. NEW VARIABLE TRACKER RATE launched of 4.99% for 3 years, w.e.f. 23.2.09....more
- 25 Feb 2009
- Loughborough BS
- Buy-to-let STANDARD VARIABLE RATE MORTGAGE of 4.99% for 3 years withdrawn, NEW STANDARD VARIABLE RATE MORTGAGE of 4.99% for term and NEW FIXED RATE MORTGAGE of 4.99% for 3 years launched, w.e.f. 23.2.09. ...more
- 24 Feb 2009
- Bank of Scotland Mortgages
- All MORTGAGE PRODUCTS withdrawn and replaced with NEW FIXED RATE MORTGAGES of 5.24% to 31.3.12 & 5.79% to 31.3.14, w.e.f. 21.2.09. All buy-to-let MORTGAGE PRODUCTS now have additional £245 completion fee. Redemption deeds fee of £50 will no longer be charged, w.e.f. 22.2.09....more
- 24 Feb 2009
- Coventry BS
- NEW FIXED RATE MORTGAGE of 5.40% to 30.6.14, max 65%, fee £1,250, w.e.f. 24.2.09....more
- 24 Feb 2009
- The Mortgage Works
- All buy-to-let Limited Company only MORTGAGE PRODUCTS withdrawn. All other buy-to-let MORTGAGE PRODUCTS withdrawn w.e.f. c.o.b. 23.2.09. pending re-launch....more
- 24 Feb 2009
- Newbury Mortgage Services
- Buy-to-let COMMISSION payable to intermediaries reduced to 0.25% of advance (min £125), w.e.f. 23.2.09....more
- 24 Feb 2009
- Lloyds TSB Scotland
- ALL BUY-TO-LET PRODUCTS withdrawn & replaced with VARIABLE BASE RATE TRACKERS of 4.99%, 5.29% & 5.59% to 30.6.12 and FIXED RATES of 4.99%, 5.29% & 5.59% to 30.6.12, w.e.f. 23.2.09. ...more
- 24 Feb 2009
- Godiva Mortgages
- NEW FIXED RATE MORTGAGE of 5.40% to 30.6.14, max 65%, fee £1,250, w.e.f. 24.2.09....more
- 24 Feb 2009
- Birmingham Midshires Solutions
- All buy-to-let MORTGAGE PRODUCTS now have additional £275 completion fee. Redemption deeds fee of £50 will no longer be charged, w.e.f. 22.2.09....more
- 23 Feb 2009
- Pink Home Loans
- All buy-to-let MORTGAGE PRODUCTS funded by BM Solutions now have additional £275 completion fee. Redemption deeds fee of £50 will no longer be charged, w.e.f. 22.2.09....more
- 23 Feb 2009
- Principality BS
- Buy-to-let STANDARD VARIABLE MORTGAGE RATE reduced by 0.20% to 4.99%, w.e.f. 20.2.09....more
- 23 Feb 2009
- Cheltenham & Gloucester
- NEW buy-to-let VARIABLE BASE RATE TRACKERS of 4.99%, 5.29% & 5.59% to 30.6.12 and FIXED RATES of 4.99%, 5.29% & 5.59% to 30.6.12 launched, w.e.f. 23.2.09. ...more
- 23 Feb 2009
Well the rate has gone down 0.5% so it will be interesting to see how the lenders will position themselves as it is likely for the rate to stay low like this for the forseeable future.
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