New 3.99% fixed rates plus other competitive rate reductions

11/02/2025

On Thursday 13 February, we’re excited to launch new competitive 3.99% 2 and 5 year fixed rates at 60% LTV in our new business residential purchase and remortgage ranges. The majority of new business residential and Buy to Let fixed rates will be reducing by up to 0.40% making our range more appealing to your clients.

Plus, we’re introducing new 65% LTV Buy to Let fixed rates in the new business range to offer better products to your clients in the over 60% to 65% LTV segment.

The pay rates on all our new business and product transfer tracker rates are going down by 0.25% to reflect the recent Bank of England base rate decrease from 4.75% to 4.50%. The Standard Variable Rate will also reduce by 0.25% to 6.75%. Plus, most new business 2 year tracker and selected product transfer 2 year and lifetime tracker differentials are reducing by up to 0.25%. 

New business

New products

  • Residential purchase – 60% LTV 2 and 5 year fixed rates at 3.99% with a £1,999 fee
  • Residential remortgage - 60% LTV 2 and 5 year fixed rates at 3.99% with a £1,749 fee.
  • BTL purchase - 65% LTV 2 year fixed rate at 4.35% with a £1,749 fee or a 4.89% £0 fee option. 65% LTV 5 year fixed rate at 4.32% with a £1,749 fee or a 4.59% £0 fee option.
  • BTL remortgage - 65% LTV 2 year fixed rate at 4.35% with a £1,749 fee or a 4.89% £0 fee option. 65% LTV 5 year fixed rate at 4.25% with a £1,749 fee or a 4.52% £0 fee option.

Fixed rate reductions

  • Residential purchase - all 2 year fixed rates reducing by up to 0.14%, 3 year fixed rates reducing by up to 0.24% and 5 year fixed rates reducing by up to 0.37%.
  • Residential remortgage – all 2 year fixed rates reducing by up to 0.17%, 3 year fixed rates reducing by up to 0.19% and 5 year fixed rates reducing by up to 0.40%.
  • Residential new build - all 3 year fixed rates reducing - at 60% LTV by up to 0.18%, at 75% LTV by 0.22%, at 85% LTV by up to 0.24%, at 90% LTV by up to 0.20% and at 95% LTV by 0.35%. 
  • Residential large loan purchase and remortgage – all 60% LTV 2 year fixed rates reducing by 0.05% and 5 year fixed rates reducing by 0.10%.
  • BTL purchase – all 60% LTV 2 and 5 year fixed rates reducing by 0.05% and 75% LTV 5 year fixed rates reducing by 0.20%.
  • BTL remortgage – all 60% LTV 2 and 5 year fixed rates reducing by up to 0.11%, 75% LTV 2 year fixed rates reducing by 0.17% and 75% LTV 5 year fixed rates reducing by 0.31%.

Tracker rate reductions
On top of the 0.25% reduction to pay rates due to the base rate decrease recently:

  • Residential purchase – majority of 2 year tracker differentials reducing by up to 0.19%.
  • Residential remortgage – majority of 2 year tracker differentials reducing by up to 0.25%. 
  • Residential large loan purchase and remortgage – 75% LTV 2 year tracker differentials reducing by 0.15%.

Product transfers

  • Residential fixed rates - rate reductions of up to 0.40% on the majority of 1, 2, 3, 5 and 7 year fixed rates.
  • Residential tracker rates – on top of the 0.25% reduction to pay rates due to the base rate decrease recently, tracker differential reductions of up to 0.20% on selected 2 year trackers.
  • BTL fixed rates - rate reductions of up to 0.40% on all 2 and 5 year fixed rates. 
  • BTL lifetime tracker – on top of the 0.25% reduction to the pay rate due to the base rate decrease recently, tracker differential reduction of 0.20%.

For clients who want to change or cancel their new deal:

  • If they haven’t accepted their product transfer offer yet, you can select a new product in the online mortgage transfer service for them and a new offer will be issued. Please make sure your client accepts the correct offer for the deal they wish to book.
  • If they’ve already accepted their new deal, you can change to a different deal or cancel the one that’s already booked for them. You must do this at least 14 days before their new deal starts. Please see the ‘Product transfer cancellation process’ section on the Product transfers page.

Whilst a product transfer is pending, your client cannot make any other changes to their mortgage until that new deal has started. This includes a switch to interest only for 6 months or a term increase under the Mortgage Charter, and other changes such as overpayments. 

Monthly Housekeeping

  • Roll on of our new business benefit end date, charge end dates and completion deadlines by 1 month.
  • Completion deadlines will roll on to:
    • 29 August 2025 for purchases
    • 3 September 2025 for remortgages
    • 5 July 2025 for product transfers
  • Product codes will be replaced across the new business and product transfer ranges.

Further information

  • Full details of our new business range can be found in the rate bulletin (issue 3) and new build rate bulletin (issue 3). Our latest mortgage rates page will be updated on Thursday 13 February.
  • From Thursday 13 February you can log on to our online mortgage transfer service in Introducer Internet to view your client’s choice of product transfer rates. You won’t find these on sourcing systems.
  • You must submit your new business and product transfer applications on our current ranges by 10pm on Wednesday 12 February.

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