Editor's note: This brief was summarised by The Property AI Newsroom from a report by Mortgage Strategy. Read the original article for full details.
BM Solutions and Halifax Announce Rate Reductions on Selected Products
BM Solutions and Halifax Intermediaries have both confirmed changes to selected mortgage product rates, with reductions set to take effect from 24 August.
BM Solutions will introduce rate reductions of up to 0.11% on selected two, three, and five-year fixed rates for Personal Ownership Buy to Let and Let to Buy Purchase products. For remortgage products, reductions of up to 0.14% will apply on selected two, three, and five-year fixed rates. Limited Company Buy to Let products will see rate reductions of up to 0.04% on selected two and five-year fixed rates.
Brokers are advised that applications for existing BM Solutions products must be fully submitted before 5pm on 22 August to secure current rates.
Halifax Intermediaries is also making changes to its mortgage product range from 24 August. Homemover and first-time-buyer customers will see rate reductions of up to 0.11% on selected fixed rate products. For remortgage customers, there will be a rate reduction of 0.13% on the 60% loan to value, two-year fixed rate product with a £1,999 product fee.
According to Moneyfacts, the past week has seen a steady flow of rate reductions across the market.
These changes may be relevant for letting agents and inventory clerks monitoring mortgage trends that could impact landlord and investor activity in the UK property sector.
Source: Mortgage Strategy