Lendinvest Mortgages will pull its buy-to-let range following rises in swap rates and will reprice these loans on Monday (15 January).
The specialist lender tells brokers in a note they have until 5pm today (12 January), to submit a decision in principle on its current catalogue.
Full mortgage applications on the current range must be submitted by 23:59pm on Sunday (14 January).
Brokers with an application in the pipeline have until 5.30pm on 12 February to proceed to offer.
The lender says that from Monday, its new landlord range will “still be priced substantially lower than where we were at the start of the year”.
Two-year Sonia swap rates are up to 4.158% from 4.099% yesterday, according to Chatham Financial.
Five-year Sonia swap rates are up to 3.585% from 3.652% over the same period.
John Charcol head of marketing Nicholas Mendes says: “Expect to see a few lenders over the next few days reevaluate their fixed-rate pricing due to recent market movement.
“I wouldn’t expect to see a sharp uplift in fixed-rate pricing, but a few percentage points higher to give lenders comfort in the event of future market movement.
“It will be interesting to see how long the high street lenders that priced headline best buys hold out for.”
