New BTL & HPP product range
Further to our email on Tuesday, 7 June, we have today launched our new rental rates across our entire Buy-to-Let (BTL), including Limited-Edition BTL, and Home Purchase Plan (HPP) product range. As a result of four increases in the Bank Base Rate (BBR) since December 2021 totalling 0.9%, we have reviewed our position.
Buy-to-Let product changes:
- UK BTL products will now start from 3.79%, with UK BTL HMO and MUFB starting from 4.05%
- All ‘Green’ UK BTL (including HMO and MUFB) rental rates retain the 0.10% reduction from their new standard rental rate equivalents and will start at 3.69%
- Limited-Edition £500k+ BTL products will now start from 3.49%
- The Limited-Edition BTL portfolio will now consist of 80% FTV products (75% FTV for HMOs and MUFBs) with all 65% FTV options withdrawn
- The Limited-Edition BTL product Application Fee will remain unchanged at £5,000
- The Intermediary Fees on Limited-Edition applications only is now capped at £5,000
Home Purchase Plan product changes:
- For all Higher FTV HPP products up to 90% FTV, rental rates will be increasing by 0.10% and now start from 4.35%
- For all standard UK resident and UK Expat HPP products up to 80% FTV, rental rates will be increasing by 0.20% with rental rates starting from 3.59%
- All ‘Green’ UK HPP (up to 90% FTV) rental rates retain the 0.10% reduction from their new standard rental rate equivalents and will start at 3.49%
- International HPP product rental rates have increased by between 0.20% and 0.40% with rental rates starting from 4.19%
- For HPP products over £500k, the 0.20% reduction remains with rental rates starting at 3.39%
Full details of our new rental rates can be found here and details of our Intermediary Fees for our HPP & BTL products’ can be found here.
Please note, to provide advice on HPP products you are required to hold specific HPP permissions with the FCA.
If you have any queries or require further information our team remains available via phone and email, details of which can be found here.
Thank you for your continued support.