It’s December and you could be forgiven for thinking that the minds of rental lenders may be drifting more towards pies and mulled wine than increasing maximum loan amounts and removing minimum income thresholds – but you would be wrong and there are no hecklers in sight.
Foundation Home Loans certainly got into the Christmas spirit with a catchy titled âfestiveâ five-year fix.
The five year fixed rate has an overall rate of 3.04%, a flat rate product charge of Â£ 1,995 and is available for purchase mortgages and remortgage between Â£ 250,000 and Â£ 1million for the ‘buy-lease, buy-lease limited liability company clients and portfolio owners. The specialist lender also separately launched for the first time a range of 85 percent loan-to-value (LTV) rental products.
Vida has also launched a range of limited edition winter products, including a no-charge buy-lease product up to 75% LTV. The rate for the free limited edition product is 2.94 percent and is fixed for five years.
The Mortgage Works has reduced purchase rates for some limited liability companies as much as 0.20% and added no-cost options to the lineup. In addition, the lender introduced a new 10-year fixed purchase-lease mortgage in a row.
Landbay revised the price of its limited edition range of five-year fixed rate mortgage products and introduced a repayment option of Â£ 500, payable on completion. The rates on four of the five products have been reduced by five basis points and the minimum loan value has been reduced from Â£ 250,000 to Â£ 200,000.
Zephyr Homeloans has launched a line of rental products that offer reduced rates on properties with higher EPC ratings. Properties with a rating of at least a C receive a 10 basis point discount on the new range, with the lowest rates applying to multi-use and freehold condominiums, as well as to standard properties.
As a result, rates for standard two-year real estate products start at 2.54% for 65% LTV loans. The lender has also cut rates on some products in its line, aimed at new properties and apartments above commercial properties, by an average of 45 basis points. These discounts apply to properties with at least an E rating on their EPC.
In focusing our attention on the criteria, Dudley Building Society has increased its maximum loan amount for expatriate mortgages from Â£ 1million to Â£ 1.5million and from Â£ 500,000 to Â£ 1million for expatriates. vacation mortgages.
Natwest announced that small portfolio owners or those applying for an identical mortgage will be able to apply for an additional buy-lease loan with no proof of income required upon submission and a reduced subscription. New and existing owners will be able to request an additional loan from the lender for legal purposes other than gambling; business objective (ie starting a new business); or consolidation of unsecured debt.
All of these additions and improvements are likely to produce a festive mood among a range of owners, investors and developers who will continue to be active until the start of the holiday season.
Having said that, I’m sure we all need a little break after such a hectic year and let me take this opportunity to wish you all a very Merry Christmas and a Happy New Year. (Thanks and back to you Cat. Ed)