As expected the Bank of England Monetary Policy Committee voted to retain the BOE base rate the same at 0.75%pa.
It has been the case for some time, but even more so now with the growing Brexit uncertainty to lock in to a fixed rate mortgage. As reported previously we were expecting some upward pressure over the coming weeks and months and this has resulted in a slight increase in longer term fixed rates and those in the higher loan to value bracket.
A few schemes worth noting:
- 2yr fixed at 60% LTV – 1.44% pa, lenders arrangement fee £999 which has remained the same since the summer.
- 5yr fixed offset at 60% LTV – 2.04% pa, lenders arrangement fee £1,749 (up from 1.94%).
- 5yr fixed at 60% LTV – 1.89% pa, lenders arrangement fee £1,995 (up from 1.83%).
A 5 year fixed offset is still proving popular – many are simply looking to create a ‘facility’ – and this may be for a number of reasons, extensions, investments, school fees – and naturally wish to have it in place now before rates rise further and before they actually need the funds.
We are starting to see a few down valuations within the London property market, however, market activity continues to increase following the summer lull.
The above content does not represent a personal recommendation. If you have any questions on the BTL sector reforms, rates or the mortgage market in general, our mortgage team is here to help. Please contact the team on 020 7444 4030 or by email.
Your home is at risk of repossession if you do not maintain mortgage payments.
| Residential Repayment – number of these deals can be done on Interest Only basis up to 50% | |||
|---|---|---|---|
| LTVs | Rate | Arrangement Fee | ERC |
| 60% | 2Yr Fixed – 1.44% to 31/12/2020 | £1,999 | YES |
| 3Yr Fixed 1.66% to 31/01/2022 | £1,499 | YES | |
| 5Yr Fixed – 1.89% to 31/12/23 | £995 | YES | |
| Offset 2Yr Tracker – 1.79% (Base + 1.04%) | £1,749 | YES | |
| 2Yr Tracker – 1.41% (Base + 0.66%) | £995 | NONE | |
| 2Yr Offset Fixed – 1.64% to 28/02/2021 | £1,499 | YES | |
| 5Yr Offset Fixed – 2.04% to 29/02/2024 | £1,749 | YES | |
| 65% | 2Yr Tracker – 1.59% (Base + 0.84%) | £995 | YES |
| Lifetime Tracker/Variable – 2.64% | £999 | NONE | |
| 75% | 2Yr Fixed – 1.48% to 31/03/2021 | £1,499 | YES |
| 3Yr Fixed – 1.75% to 31/01/2022 | £999 | YES | |
| 5Yr Fixed – 1.94% to 31/12/2023 | £995 | YES | |
| Residential – Interest Only – sale of property as a repayment vehicle | |||
|---|---|---|---|
| LTVs | Rate | Arrangement Fee | ERC |
| 75% all interest only | 2Yr Fixed – 1.48% to 31/03/2021 | £1,499 | YES |
| 5Yr Fixed – 1.99% to 31/01/2024 | £999 | YES | |
| Offset Discount 2Yr Tracker – 2.49% | £1,999 | YES | |
| High LTV 1st Time Buyers – Repayment | |||
|---|---|---|---|
| LTVs | Rate | Arrangement Fee | ERC |
| 85% | 2 year tracker – 1.75% (Base + 1.00%) | £995 | NONE |
| 2Yr Fixed – 1.69% to 30/12/2020 | £999 | YES | |
| 5Yr Fixed – 2.14% to 30/12/23 | £499 | YES | |
| 95% | 3Yr fixed – 2.99% to 28/02/2022 | £599 | YES |
| Buy to Let Rates *Average rental cover 145% at 5.5%. | |||
|---|---|---|---|
| LTVs | Rate | Arrangement Fee | ERC |
| 60% | 2Yr Fixed – 1.59% to 31/12/2020 | £1,795 | YES |
| 3Yr Fixed – 1.85% to 01/03/2022 | £1,995 | YES | |
| 5Yr Fixed – 2.13% to 01/03/2024 | £1,995 | YES | |
| 2Yr Tracker – 1.74% (Base + 0.99%) | £1,999 | YES | |
| 75% | 2Yr fixed – 1.79% to 02/02/2021 | £1,499 | YES |
| 3Yr Fixed – 2.19% to 31/01/2022 | £1,999 | YES | |
| 5Yr Fixed – 2.44% to 31/01/2024 | £1,995 | YES | |
| 2Yr Tracker – 1.94% (Base + 1.19%) | £1,995 | YES | |
| Second Charge, Bridging Finance, Equity Release Loans available – rates upon request |
|---|
**ERC – Early Repayment Charges – if applies subject to individual lenders criteria.
