The Co-operative Bank for Intermediaries has revamped selected new business residential products, while Castle Trust Bank launches a range of special edition bridging deals.
Highlights of the Co-op’s changes include:
New business
Residential
- Two-year fixes, with a £1999 fee, at 80% loan to value, rise by 10 basis points
- Two-, three- and five-year fixes, with no fee, and a £999 fee, fall by up to 8bps
Professional Mortgage
- Two- and five-year fixes fall by up to 5bps
Meanwhile, Castle Trust Bank launches special edition rates on light and heavy refurbishment bridging loans that complete before the end of July.
The lender says its light refurbishment bridging loans have been reduced to 80bps from 85bps on LTVs between 70% and 80%. There are no time limitations to qualify for the new rate for LTVs up to 65%, which has been reduced to 75bps from 85bps a month.
Special edition rates on heavy refurbishment bridging loans have been reduced to 90bps from 95bps on LTVs between 70% and 80%. There are no time limitations to qualify for the new rate for LTVs up to 65%, which have been cut to 80bps from 95bps a month.
The business adds that its standard bridging products up to 70% LTV gross are now 75bps a month, from 85bps — with no time limitations to qualify for these rates.
