Lenders update mortgage products in droves

There has been a veritable outbreak of mortgage product updates over the last couple of days, including both rate increases and decreases. Here we round up the latest:

Sainsbury’s Bank

The residential mortgage product rage has received various increases:

Under two-year fixed rates:

  • The 90 per cent LTV mortgage increased to 2.10 per cent with no product fee and £250 cashback
  • The 95 per cent LTV mortgage increased to 3.39 per cent with no product fee and £500 cashback
  • The 95 per cent LTV mortgage increased to 3.59 per cent with no product fee and £1,000 cashback

In the five-year product range:

  • The 90 per cent LTV mortgage increased to 2.59% with no product fee and £250 cashback

Within the two-year fixed rate remortgage products:

  • The 75 per cent LTV product increased to 1.57 per cent with a £995 product fee and £250 cashback or Fee Assisted Legals

Under five-year fixed rate remortgages:

  • The bank’s 60 per cent LTV product increased to 1.92 per cent with a £995 product fee and £250 cashback or Fee Assisted Legals
  • Its 75 per cent LTV increased to 1.95 per cent with a £995 product fee and £250 cashback or Fee Assisted Legals

Vida Homeloans

The specialist lender for intermediaries has cut rates across its buy-to-let ‘Vida 1’ range:

  • The 70 per cent LTV five-year fix has been cut by 0.40 per cent to 3.54 per cent
  • The 75 per cent LTV five-year fix has been reduced by 0.45 per cent to 3.64 per cent
  • The 80 per cent LTV five-year fix has been reduced by 0.75 per cent to 3.99 per cent

The Cambridge Building Society

The Cambridge is offering a new residential mortgage through Sesame and PMS, which has a LTV of up to 80 per cent at 1.99 per cent fixed over three years, and for 90 per cent LTV, 2.29 per cent.

Alongside Sesame and PMS, Cambridge is also offering an 75 per cent LTV three-year fix at 2.49 per cent through Legal & General Mortgage Club.

Newbury Building Society

In the shared ownership space, Newbury has reduced its 95 per cent LTV three-year fix from 4.29 per cent to 3.9 per cent as well as introducing a series of new products:

  • A 90 per cent LTV three-year fix at 3.49 per cent
  • A 90 per cent LTV five-year fix at 4.29 per cent
  • A 90 per cent LTV three-year discount rate at 2.49 per cent.

Post Office Money

High street stalwart Post Office Money has cut the rate of its 95 per cent LTV two-year fix to 3.39 per cent. The product is aimed at first- and second-time buyers and has no fee and offers £400 cashback.

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