Sainsbury’s Bank amends resi and BTL ranges

Sainsbury’s Bank has announced a series of rate reductions and increases within its residential and buy-to-let ranges.

Notable changes within the lender’s residential range include the 80 per cent LTV five-year fix reduced from 2.29 per cent to 2.24 per cent. In contrast, the 85 per cent LTV two-year fixed rate product has been increased from 2.17 per cent to 2.22 per cent.

Both offerings are for remortgage only, have no product fees, and a fee assisted legals or £500 cashback option.

In addition, within the lender’s residential range, the 95 per cent LTV five-year fix has been reduced from 3.27 per cent to 3.24 per cent. Meanwhile, the 90 per cent LTV two-year fixed rate offering has been increased from 2.24 per cent to 2.29 per cent.

The above two products are both for purchase only, have no fee and £500 cashback.

Furthermore, the 60 per cent LTV five-year fixed rate buy-to-let product has been cut from 2.16 per cent to 1.99 per cent, and the 75 per cent LTV five-year fix BTL offer has been reduced from 2.71 per cent to 2.47 per cent.

The latter product is for remortgage only and has a £1,995 product fee, while the former offering is for purchase only and includes a £995 fee. Both products also have £250 cashback.

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