Mortgage Rate Watch: Lenders Adjusting Their Offers
Hello everyone, it’s a dynamic time in the mortgage market, and we’re seeing some interesting shifts from major lenders. Keeping an eye on these changes helps us understand the broader trends affecting borrowers and homeowners. Let’s dive into some recent adjustments.
- Virgin Money’s Broad Reductions: We’ve seen Virgin Money announce significant rate cuts across many of its offerings. This includes remortgage and purchase products for both two and five-year fixed terms, shared ownership, and various Buy-to-Let (BTL) options. While the overall trend is down, it’s worth noting some specific BTL product transfer rates and exclusive BTL five-year fixed rates saw slight increases, showing a targeted approach to pricing within certain niches.
- NatWest Targets High LTVs and BTL: NatWest is also making notable reductions, particularly focusing on high Loan-to-Value (LTV) residential products. This means more accessible rates for those with smaller deposits, such as 95% LTV for purchases and 90% LTV for remortgages. They’ve also sharpened their Buy-to-Let rates, including attractive options for Green BTL properties.
These movements suggest a competitive lending environment, with lenders keen to attract both new borrowers and those looking to remortgage. For many, this signals a generally positive trend, especially with the focus on high LTVs potentially opening doors for first-time buyers, and continued support for landlords. It’s always a good time to review your options.
