Platform increases new business rates; removes BTL products | Mortgage Strategy

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Platform has pushed up a selection of rates by up to 0.33 per cent and withdrawn its buy-to-let and Help to Buy products for new business on a temporary basis.

As well as this, it has both increased and cut product switch rates and issued new product codes for its BTL and HTB offerings.

The new business rate changes occur at 70 per cent LTV and 80 per cent LTV five-year fixed with £999 product fee.

Specifically, the 70 per cent LTV product is now set at 1.75 per cent and the 80 per cent LTV at 2.18 per cent.

Regarding the product switch increases, the 60 per cent LTV and 75 per cent LTV two-, three-, and five-year fixes have been reduced by up to 0.28 per cent and the 85 per cent LTV three- and five-year fixes cut by up to 0.29 per cent.

Additionally, the 80 per cent LTV three- and five-year fixed with £1,249 fee have seen 0.03 per cent cut from their rates.

The 80 per cent LTV and 90 per cent LTV two-year fix, meanwhile, has had 0.16 per cent added to its rate and the 80 per cent LTV three- and five-year fixes with zero fee have increased by 0.04 per cent.


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