Newbury Building Society has reduced mortgage rates and enhanced products across its residential, shared ownership and buy-to-let ranges, introducing new options for existing borrowers and fee-free remortgage products.
Newbury Building Society has announced a series of mortgage product changes, including rate reductions and product enhancements across its residential, shared ownership and buy-to-let ranges.
The changes, which took effect on 30th June, include lower fixed rates, enhanced discounted products and new mortgage options for existing borrowers. The lender has also introduced fee-free remortgage solutions across a number of products.
Within its residential range, Newbury has updated discounted and fixed-rate mortgages up to 75% loan-to-value (LTV), including new discount options for purchase and remortgage customers. Existing borrowers will also have access to lower fixed rates and a new 2-year fixed-rate product. Shared ownership rates have been reduced across both the 90% and 95% loan-to-share ranges, while buy-to-let improvements focus on discounted variable rate products for individual landlords.
The building society said the changes are intended to give brokers more flexibility when supporting clients purchasing a property, remortgaging, completing a product transfer or expanding a buy-to-let portfolio.
Karen Smith, head of intermediary sales, said: “These latest product changes show our commitment to supporting brokers and their clients with flexible products and a lending approach that takes the whole story into account. We’re pleased to be reducing rates across a number of our key products while also introducing additional options that provide greater choice and value.
“At the heart of everything we do is a common-sense, flexible approach to lending. We know clients don’t always fit neatly into a box, and our experienced team works closely with brokers to understand individual circumstances and find solutions that work. As market conditions continue to evolve, we’re focused on helping brokers make the most of every opportunity with products and service they can rely on.”