Wave revamps products and reduces max LTV

Wave has revamped its product range, withdrawing all two-year fixes and its Almost Prime buy-to-let deals.

It has also reduced its maximum LTV from 80% to 75%.

Wave is withdrawing its Prime 6.48% and 6.68% two-year fixes and increasing the rate of its three-year fix from 6.28% to 6.78%.

It is also increasing its two-year tracker rate to 6.88% (Base plus 1.63%) and its three-year tracker rate to 6.68% (Base plus 1.43%).

Its Almost Prime three-year fixed rate has increased to 7.18%. The two-year tracker rate in this range has increased to 7.38% (Base plus 2.13%) while the three-year tracker rate has increased to 7.18% (Base plus 1.93%).

Finally, Wave’s buy-to-let rental income range now comprises a 6.78% three-year fixed deal, a 6.93% two-year tracker and a 6.73% tracker.

The completion fees on all deals have increased to 2%.

Decisions in Principle will be accepted on withdrawn rates until close of business today.