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Keystone Property Finance, the specialist buy-to-let lender, has cut selected two-year fixed rates by 0.1 percentage points. The chunkiest cuts will be on two and five-year fixed rates for residential remortgage. Its five-year fix for remortgage starts from 4.89percent with a 1,495 fee (60percent LTV). HSBC is cutting selected residential and buy-to-let fixed rates from tomorrow , which are likely to take some deals into the best-buy spots.
They fielded questions from the Committee about high mortgage rates and potential arrears, falling property prices, problems for first-time buyers and issues in the buy-to-let market, among other concerns. The average five-year fix in the market is at 6.30percent today, compared to 6.27percent yesterday, says Moneyfacts. TSB is increasing the cost of its five-year fixed rates for new customers by up to 0.5 percentage points, from today, writes Jo Thornhill.
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- HSBC is increasing fixed rates on a range of residential and buy-to-let mortgage deals, and on its product switcher deals for existing customers looking for a new rate.
- Smaller lenders are also retreating from the market, with Nottingham for Intermediaries withdrawing 14 deals from its shelves and repricing a range of residential and buy-to-let mortgages.
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Rates on exclusive five-year deals are also down by up to 0.15 percentage points. Rates have fallen by as much as 0.40 percentage points, with some deals dipping below 6percent. The Bank uses interest rate rises as a tool to control Inflation, which fell sharply to 7.9percent in June from 8.7percent in May.
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It is offering a five-year fixed rate at 5.05percent (85percent LTV) with the same fee. Santander has cut selected fixed rates for residential purchase and remortgage, in welcome news for borrowers looking for a new home loan. From there, it’s important that we experience exactly what the customer experiences. We look for sites with a good game selection, and play a variety of slots and table games on desktop and mobile, making use of the available bonus offers. Welcome bonuses are a big draw for online casinos, and we look for the most generous ones with the best wagering requirements. TSB has said it is increasing the cost of its two and five-year fixed rates for purchase and remortgage by up to 0.35 percentage points from tomorrow .
It is offering a five-year fee-free remortgage deal at 5.89percent (65percent LTV) and a five-year fixed rate at 4.89percent with a 5percent fee (also 65percent LTV). It sits just above the current market best-buy (on deals at 60percent loan to value) from NatWest at 4.24percent with a 1,495 fee (or at 4.19percent for an online mortgage, which you must apply for and manage online only). HSBC’s equivalent deal is at 4.33percent while mutual lender Nationwide building society also has a five-year fixed rate for remortgage at 4.34percent. NatWest’s new two-year residential purchase fixed rates start from 4.77percent with a 1,495 fee (60percent loan to value), up from 4.64percent. The bank’s residential fixed-rate deals have risen by up to 0.26 percentage points and buy-to-let deals by up to 0.22 percentage points. The lender is now offering a two-year fixed rate for residential purchase or remortgage at 4.88percent with a 999 fee (60percent LTV) and a five-year equivalent deal at 4.47percent (also 60percent LTV).
Purchase fixed rates are at 6.44percent for two years or 6.14percent for five years, and remortgage fixed rates are at 6.76percent for two years or 6.5percent over five years. A five-year fixed rate for remortgage will now start at 5.79percent (60percent LTV) or at 6.34percent (95percent LTV), also each with a 995 fee. Fee-free options are available with TSB but it usually means borrowers pay a higher fixed rate. But despite Coventry’s move and a small number of other lenders tweaking selected rates upwards (see round-up below), brokers are not expecting further increases across the board to fixed borrowing rates. Higher-priced fixed rates for new residential borrowers and buy-to-let customers will launch at 8am on 19 July.