Zephyr Homeloans is reducing rates on its two-year mortgage products by 15 basis points (bps) and by 10 bps on its five-year mortgage products.
The changes from the specialist buy-to-let (BTL) lender has resulted in the following for two-year, fixed mortgage products: 2.54% on a two-year, fixed rate, standard mortgage up to 65% LTV, with a 7% fee; 2.54% on a two-year, fixed rate mortgage for new builds and flats above commercial properties up to 65% LTV, with a 7% fee; and 2.69% on a two-year, fixed rate mortgage for HMOs (houses of multiple occupancy) and MUFBs (multi-unit freehold blocks) up to 65% LTV, with a 7% fee
New rates on five-year fixed mortgage products include: 4.39% on a five-year, fixed rate, standard mortgage up to 65% LTV, with a 7% fee; 4.39% % on a five-year, fixed rate mortgage for new builds and flats above commercial properties up to 65% LTV, with a 7% fee; and 4.49% on a five -year, fixed rate mortgage for HMOs and MUFBs up to 65% LTV, with a 7% fee
Zephyr said that its fixed rate mortgage products are also available with a 0% or 3% fee option.
Monmouthshire Building Society has also announced interest rate cuts across its remortgage range.
The society is reducing rates across six remortgage products in its remortgage range, with the lowest new lending rate now standing at 3.99%
The products include a two-year fixed rate residential remortgage 75% LTV – 3.99%; a two-year fixed rate residential remortgage 90% LTV at 4.35% (reduced by 0.10%); and a five-year fixed rate residential remortgage 90% (reduced by 0.10%), both of which currently provide competitive rates for customers looking to remortgage.
