Launch of more new build products, BTL withdrawals plus new fixed rates and reductions

01/05/2025

On Tuesday 6 May we’re launching new products to support your FTB and home mover clients. We’re expanding our new build exclusive range by adding 2 and 5 year fixed rates plus 2 year trackers across all LTVs. All new build only products come with a 9 month completion deadline. We’re introducing new residential 85–95% LTV 3 year fixed rates for FTBs and home movers. These come with a free standard valuation and £250 cashback.

We’re reducing most standard residential FTB fixed rates by up to 0.12% and home mover fixed rates by up to 0.20%. Most 2, 3 and 5 year remortgage fixed rates are reducing by up to 0.14%. Plus, all 60% LTV 2 and 5 year large loan fixed rates are reducing by 0.10%.

In our new business BTL remortgage range we’re introducing new 70% LTV 2 and 5 year fixed rates. We’re withdrawing our BTL purchase 65% LTV 2 and 5 year fixed rates. Some BTL purchase fixed rates are reducing by up to 0.05% and most BTL remortgage fixed rates are reducing by up to 0.12%.

In our product transfer range, residential fixed rates are reducing by up to 0.13% and BTL fixed rates are reducing by up to 0.12%.

There are no changes to our tracker rates.

New business

New products

  • Residential home mover new build – 60-95% LTV 2 and 5 year fixed rates, plus 60-90% LTV 2 year trackers with £0 and £999 fee options. Free standard valuation and £250 cashback on 85-95% LTV rates.
  • FTB new build – 60-95% LTV 2 and 5 year fixed rates, plus 60-90% LTV 2 year trackers with £0 and £999 fee options. Free standard valuation and £250 cashback on 85-95% LTV rates.
  • Residential home mover – 85-95% LTV 3 year fixed rates with a free standard valuation and £250 cashback.
  • FTB – 85-95% LTV 3 year fixed rates with a free standard valuation and £250 cashback.
  • BTL remortgage – 70% LTV 2 and 5 year fixed rates.

Fixed rate reductions 

  • Residential home mover – 60% LTV 5 year fixed rate with a £999 fee reducing by 0.20%.
  • Residential home mover – all other 60-95% LTV 2 and 5 year fixed rates reducing by up to 0.12%.
  • Residential home mover large loan - all 60% LTV 2 and 5 year fixed rates reducing by 0.10%.
  • FTB - selected 60-90% LTV 2 and 5 year fixed rates reducing by up to 0.12%.
  • FTB large loan – all 60% LTV 2 and 5 year fixed rates reducing by 0.10%.
  • Residential remortgage – most 60-90% LTV 2, 3 and 5 year fixed rates reducing by up to 0.14%.
  • BTL purchase - 75% LTV 2 year fixed rates and 60% LTV 5 year fixed rates reducing by up to 0.05%.
  • BTL remortgage - most 60-75% LTV 2 and 5 year fixed rates reducing by up to 0.12%.

Withdrawals

  • BTL purchase – 65% LTV 2 year fixed rate with a £0 fee at 4.68% - BTZ3V.
  • BTL purchase – 65% LTV 2 year fixed rate with a £1,749 fee at 4.14% - BTZ2V.
  • BTL purchase – 65% LTV 5 year fixed rate with a £0 fee at 4.52% - BTZ9V.
  • BTL purchase – 65% LTV 5 year fixed rate with a £1,749 fee at 4.25% - BTZ8V.

Product transfers

Fixed rate reductions

  • Residential – most 60-95% LTV 1, 2, 3, 5 and 7 year fixed rates reducing by up to 0.13%.
  • BTL – most 60-75% LTV 2 and 5 year fixed rates reducing by up to 0.12%.

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 10) and new build rate bulletin (issue 8). Our latest mortgage rates page will be updated on Tuesday 6 May.
  • From Tuesday 6 May 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 5 May.

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