Competitive remortgage fixed rates and product transfer reductions

On Monday 7 July we’re launching some fantastic residential remortgage 2 and 5 year fixed rates. Our lowest remortgage rate will be a 60% LTV 2 year fixed rate at 3.84% with a £999 fee.

Plus we’re also reducing residential product transfer fixed rates.

There are no changes to home mover, FTB, new build, large loans, tracker rates or BTL fixed rates.

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New business

Fixed rate reductions

• Residential remortgage – all 60-75% LTV 2 year fixed rates reducing by up to 0.16%. All 60-75% LTV 5 year fixed rates reducing by up to 0.10%.

Product transfers

• Residential – all 60-75% LTV 2 year fixed rates reducing by up to 0.13%. All 60-75% 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 17). Our latest mortgage rates page will be updated on Monday 7 July.
• From Monday 7 July 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 Sunday 6 July.