Competitive new business and product transfer fixed rate reductions

On Friday 4 April, we’re reducing some new business FTB 2 year fixed rates and some residential home mover 2 year fixed rates by up to 0.09%. We’re also reducing some 2 year and all 5 year residential remortgage fixed rates by up to 0.10%.

There are no changes to our new business large loan, new build, buy to let or tracker rates.
 
We’re reducing some residential 2 year and all 5 year fixed rates in our product transfer range by up to 0.10%. There are no changes to buy to let or tracker rates.    

Please note: we offer separate new business FTB and home mover product ranges since 4 March, so you must make sure you’re using the correct product range. Where one applicant is a FTB and the other applicant is a home mover, please enter the home mover as applicant 1 in Introducer Internet. That way the home mover range will correctly display for the product selection in the FMA. One way to find the products available to your client is by using the ‘Client type’ drop down on the Latest mortgage rates page.

New business

Fixed rate reductions

• FTB - all 60% LTV 2 year fixed rates reducing by up to 0.07%.
• FTB - all 85 - 95% LTV 2 year fixed rates reducing by up to 0.08%.
• Residential home mover - some 60 - 75% LTV 2 year fixed rates reducing by up to 0.09%.
• Residential remortgage - some 60 - 75% LTV 2 year fixed rates reducing by up to 0.07%.
• Residential remortgage - all 75% LTV 5 year fixed rates reducing by up to 0.10%.

Product transfers

Fixed rate reductions

• Residential - some 60 - 75% LTV 2 year fixed rates reducing by up to 0.07%.
• Residential - all 75% LTV 5 year fixed rates reducing by up to 0.10%.

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 8) and new build rate bulletin (issue 6). Our latest mortgage rates page will be updated on Friday 4 April.
• From Friday 4 April 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 Thursday 3 April.