Principality Intermediaries launched a new product transfer range, replacing its existing range withdrawn last week, featuring rate reductions of up to 40bps on selected residential, shared ownership and buy-to-let products — including cuts of up to 40bps on two- and five-year residential fixes at 90% LTV and up to 20bps on buy-to-let transfers at 60% and 75% LTV — while simultaneously raising rates by up to 15bps on selected tracker, holiday let and 95% LTV residential fixed products.
Quantum Mortgages launched a cashback remortgage product and cut rates across its range by 20bps, with the cashback offering paying 1% of the net loan — minimum £1,000, maximum £20,000, or up to £50,000 for a £5 million portfolio — available up to 75% LTV across its single-unit, multi-unit and specialist ranges.
Santander slashed selected fixed rates across its residential and buy-to-let new business and product transfer ranges, with reductions of up to 0.17% on residential new business products and up to 0.09% on BTL rates.
The Mortgage Works reduced rates by up to 22bps on selected one-, two-, and five-year fixed-rate buy-to-let, let-to-buy, HMO and limited company buy-to-let products for new and existing customers, with headline five-year fixed remortgage rates falling to 4.22% at 65% LTV with a 3% fee and limited company buy-to-let rates dropping to 5.49% at 75% LTV with no fee.
Tipton & Coseley Building Society cut rates on selected mortgage products by up to 0.22 percentage points and reduced arrangement fees across its expat and limited company buy-to-let ranges, including a five-year fixed limited company buy-to-let rate repriced from 5.89% to 5.67% at 80% LTV with a £900 fee, while also reintroducing high income multiple mortgages allowing borrowing of up to six-and-a-half times income, available from 5.65% on a two-year discount at up to 80% LTV with no arrangement fee.