Reprice of our BTL & HPP product ranges, SVR increase and Limited Edition Buy-to-Let £500k+ products reintroduced
Further to our email on Tuesday, 9 August, and as a result of the increase in Bank Base rate (BBR), we have today repriced our entire range of BTL and HPP products and increased our Standard Variable Rate. In addition, we have introduced a new range of Limited Edition Buy-to-Let £500k+ products for UK residents, UK Expats and International residents, including HMOs and MUFBs.
Buy-to-Let product changes:
- All standard BTL products up to £500k for UK resident, UK Expat and International customers, including Green, HMO and MUFB, will be increasing by 0.50%
- For all UK resident, UK Expat and International resident BTL products, including HMO and MUFB, a new range of Limited Edition BTL £500k+ products are being introduced. These new products have a 0.25% discount off the equivalent standard BTL product range and have a £5,000 fixed application fee. The Limited Edition products will continue to attract a maximum procuration fee of £5,000
Home Purchase Plan product changes:
- All standard HPP products up to £500k for UK resident, UK Expat and International customers, including Green and the Higher FTV products (maximum 90%), will be increasing by 0.50%
- All HPP £500k+ products will now also receive a 0.25% discount off the equivalent standard product (previously 0.20%)
Full details of all our new rates can be found here.
Standard Variable Rate
Following two recent changes to the Bank of England base rate totalling 0.75%, we are today increasing our Standard Variable Rate (SVR) for new business to 5.50% (from 4.75%). For existing customers, the new SVR takes effect from the next Rent Review date of 1 October 2022.
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.