Newbury Building Society cuts buy-to-let rates
Newbury Building Society has reduced its buy-to-let mortgage rates, including limited company and expat mortgages.
The rates for both the buy-to-let 3-year discount at 75% loan-to-value and buy-to-let 5-year discount at 75% were reduced from 3% to 2.75%.
The limited company buy-to-let discount at 75% saw it’s rate cut from 3.24% to 2.99%, while the rate was reduced from 3.95% to 3.45% for the expat buy-to-let discount at 60% LTV.
Roger Knight, lending manager at Newbury Building Society, said: “We have reduced the rates of our buy-to-let products to reassure landlords that there are still lots of property investment opportunities out there in a challenging buy-to-let market.
“We will continue to provide great products and ensure our staff are fully trained to understand the ever-changing buy-to-let landscape.”
For its limited company and expat buy-to-let mortgage products, the society has also introduced a flat fee of £1,500 for all applications instead of the previous 1.00% (min £1,500) fee, regardless of loan size. The application fee for the 3 and 5-year buy-to-let discount remains at £950.