Launch of competitive max £250k products, new FTB range, withdrawal of 3.99% fixed rates and other increases and reductions

28/02/2025

On Tuesday 4 March, we’re introducing competitive 85%, 90% and 95% LTV home mover only fixed rates with a £250,000 maximum loan size to help your clients.

We're also introducing two separate ranges to individually support your first time buyer and home mover clients. The FTB range will include standard, large loan and new build products. All applicants must never have owned a property, whether in the UK or abroad. 

We’re withdrawing our 3.99% residential purchase, remortgage and product transfer 2 year fixed rates.

We're making reductions of up to 0.16% to most of our home mover fixed rates. Plus we're increasing most of our remortgage fixed rates by up to 0.10%.

In our product transfer range, we’re making reductions of up to 0.06% as well as increases of up to 0.09%.

New business

New products

  • Residential home mover – 85% to 95% LTV 2 year fixed rates available with a £749 fee or no fee, up to a maximum loan size of £250,000.
  • FTB standard
    • 60% LTV 2 year fixed rate at 4.23% with a £999 fee.
    • 60% LTV 2 year fixed rate at 4.49% with a £0 fee.
    • 75% LTV 2 year fixed rate at 4.39% with a £999 fee.
    • 75% LTV 2 year fixed rate at 4.65% with a £0 fee.
    • 85% LTV 2 year fixed rate at 4.67% with a £999 fee.
    • 85% LTV 2 year fixed rate at 4.93% with a £0 fee.
    • 90% LTV 2 year fixed rate at 5.01% with £999 fee.
    • 90% LTV 2 year fixed rate at 5.27% with a £0 fee.
    • 95% LTV 2 year fixed rate at 5.56% with a £0 fee.
    • 60% LTV 3 year fixed rate at 4.21% with a £999 fee.
    • 60% LTV 3 year fixed rate at 4.40% with a £0 fee.
    • 75% LTV 3 year fixed rate at 4.41% with a £999 fee.
    • 75% LTV 3 year fixed rate at 4.60% with a £0 fee.
    • 60% LTV 5 year fixed rate at 4.13% with a £999 fee.
    • 60% LTV 5 year fixed rate at 4.26% with a £0 fee.
    • 75% LTV 5 year fixed rate at 4.39% with a £999 fee.
    • 75% LTV 5 year fixed rate at 4.52% with a £0 fee.
    • 85% LTV 5 year fixed rate at 4.60% with a £999 fee.
    • 85% LTV 5 year fixed rate at 4.74% with a £0 fee.
    • 90% LTV 5 year fixed rate at 4.84% with a £999 fee.
    • 90% LTV 5 year fixed rate at 5.01% with a £0 fee.
    • 95% LTV 5 year fixed rate at 5.25% with a £0 fee.
    • 60% LTV 10 year fixed rate at 4.49% with a £999 fee.
    • 60% LTV 10 year fixed rate at 4.58% with a £0 fee.
    • 75% LTV 10 year fixed rate at 4.57% with a £999 fee.
    • 75% LTV 10 year fixed rate at 4.66% with a £0 fee.
    • 60% LTV 2 year tracker rate at 4.69% with a £999 fee.
    • 75% LTV 2 year tracker rate at 4.95% with a £999 fee.
    • 90% LTV 2 year tracker rate at 5.59% with a £0 fee.  
  • FTB large loans
    • 60% LTV 2 year fixed rate large loan at 4.40% with a £1,999 fee.
    • 60% LTV 5 year fixed rate large loan at 4.28% with a £1,999 fee.
    • 60% LTV 2 year tracker rate large loan at 5.04% with a £1,999 fee.
    • 75% LTV 2 year tracker rate large loan at 5.24% with a £1,999 fee.
  • FTB new build
    • 60% LTV 3 year fixed rate new build exclusive at 4.16% with a £999 fee.
    • 60% LTV 3 year fixed rate new build exclusive at 4.36% with a £0 fee.
    • 75% LTV 3 year fixed rate new build exclusive at 4.35% with a £999 fee.
    • 75% LTV 3 year fixed rate new build exclusive at 4.54% with a £0 fee.
    • 85% LTV 3 year fixed rate new build exclusive at 4.70% with a £999 fee.
    • 85% LTV 3 year fixed rate new build exclusive at 4.89% with a £0 fee.
    • 90% LTV 3 year fixed rate new build exclusive at 4.95% with a £999 fee. 

Withdrawals

  • Residential purchase – 60% LTV 2 year fixed rate at 3.99% with a £1,999 fee - MV24V.
  • Residential remortgage – 60% LTV 2 year fixed rate at 3.99% with a £1,749 fee - MV15R.

Fixed rate reductions

  • Residential home mover (formerly all purchase) – majority of 60% to 95% LTV 2 and 5 year fixed rates reducing by up to 0.16%. 
  • Residential home mover large loans (formerly all purchase) – all 60% LTV 2 and 5 year fixed rates reducing by 0.05%.
  • Residential remortgage – 60% LTV 2 year fixed rate with no fee and selected 60% and 75% LTV 5 year fixed rates reducing by up to 0.06%. 
  • Residential remortgage large loans – all 60% LTV 2 and 5 year fixed rates reducing by 0.05%.
  • BTL purchase – all 75% LTV 5 year fixed rates reducing by 0.08%.

Tracker rate reductions

  • Residential home mover (formerly all purchase) – 90% LTV 2 year tracker reducing by 0.19%.

Fixed rate increases

  • Residential remortgage – 60% LTV 2 year fixed rate with £999 fee, 75% LTV 2 year fixed rate with no fee, all 85% and 90% LTV 2 year fixed rates, all 3 year fixed rates and 60% LTV 5 year fixed rate with £999 fee increasing by up to 0.08%.
  • BTL remortgage - selected 65% to 75% LTV 2 and 5 year fixed rates increasing by up to 0.10%.

Product transfers

Withdrawal

  • Residential – 60% LTV 2 year fixed rate at 3.99% with a £1,749 fee - F908J.

Fixed rate reductions

  • Residential 60% LTV 2 and 5 year fixed rates with no fee and all 75% LTV 5 and 7 year fixed rates reducing by up to 0.06%. 

Fixed rate increases

  • Residential - most other 60% to 90% LTV 2 and 5 year fixed rates, all 60% to 90% LTV 3 year fixed rates and 60% LTV 7 year fixed rate increasing by up to 0.08%.
  • BTL - 75% LTV 5 year fixed rates increasing by 0.09%

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. 

Further information

  • Full details of our new business range can be found in the rate bulletin (issue 5) and new build rate bulletin (issue 4). Our latest mortgage rates page will be updated on Tuesday 4 March.
  • From Tuesday 4 March 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 Monday 3 March.

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