Louis Mason and Jade Pinkerton from Oportfolio discuss mortgage product watch with Skipton building society.
We are only three days into April 2023 and we are already seeing lots of lenders changing and improving their mortgage product offering. We are however also seeing a few lenders who have increased some of their rates. Why are they doing this? As we have already reported, despite the base rate going up, many lenders are still reducing their rates. This is mainly, in our opinion, because lenders massively overreacted several months ago and how now had time to adjust their rates and products to more sensible levels. But why are some increasing rates? Perhaps to reduce the number of applications for a period of time, or perhaps they are losing confidence in the market again. Find out what some of these new product releases are in our April week 1 mortgage product watch.
Skipton For Intermediaries Mortgage Product Watch
Skipton have emailed mortgage brokers this morning to announce the following changes to their product range:
- Rate increases on selected 2 and 5 year fixed rate Residential products.
- End dates extended for our Residential and Buy to Let fixed rate product ranges to July 2025/2028.
Some highlights are as follows
- 2Y Fixed 5.02% – 60% LTV for Purchase / Remortgage
- 2Y Fixed 4.81% – 60% LTV for Purchase / Remortgage
- 2Y Fixed 5.02% – 60% LTV for Purchase / Remortgage
- 2Y Fixed 5.13% – 75% LTV for Purchase / Remortgage
- 2Y Fixed 5.13% – 75% LTV for Purchase / Remortgage
- 2Y Fixed 5.21% – 85% LTV for Purchase / Remortgage
- 2Y Fixed 5.21% – 85% LTV for Purchase / Remortgage
- 2Y Fixed 5.36% – 90% LTV for Purchase / Remortgage
- 2Y Fixed 5.37% – 90% LTV for Purchase / Remortgage
- 2Y Fixed 5.72% – 95% LTV for Purchase
- 2Y Fixed 5.52% – 95% LTV for Purchase
- 2Y Fixed 5.72% – 95% LTV for Purchase
- 2Y Fixed 5.73% – 95% LTV for Purchase New Build House Only
Hinkley & Rugby Building Society
BTL
- Buy to Let 4.99% fixed to 30/04/28 – 75% LTV
Residential
- 5.25% fixed to 30/04/28 – 90% LTV
- 5.39% fixed to 30/04/28 – 95% LTV
JBSP
- Joint Borrower Sole Proprietor – 5.25% fixed to 30/04/28 – 90% LTV
- Joint Borrower Sole Proprietor – 5.39% fixed to 30/04/28 – 95% LTV
TSB
Residential
- 2 & 5 Year Fixed Remortgage, 0-75% LTV, £995 fee, by 0.10%
- 0-60% LTV 2-year remortgage rates changing from 4.39% to 4.29%
- 60-75% LTV 2-year remortgage rates changing from 4.44% to 4.34%
- 0-60% LTV 5-year remortgage rates changing from 4.09% to 3.99%
- 60-70 LTV 5-year remortgage rates changing from 4.19% to 4.09%
Product Transfer
- 2 & 5 Year Fixed Residential, 0-75% LTV, £995 fee, by 0.10%
- 0-60% LTV 2-year product transfer rates changing from 4.39% to 4.29%
- 60-75% LTV 2-year product transfer rates changing from 4.44% to 4.34%
- 0-60% LTV 5-year product transfer rates changing from 4.09% to 3.99%
- 60-75% LTV 5-year product transfer rates changing from 4.19% to 4.09%
Speak To A Mortgage Advisor About Mortgage Rates
If you or anyone you know is looking to get a new mortgage, please give our team a call today to discuss the most competitive rates that we can help you to secure.
