Editor's note: This brief was summarised by The Property AI Team from a report by Mortgage Strategy. Read the original article for full details. Many UK teams now handle this with dedicated property inventory software.
Halifax and BM Solutions Cut Rates, NatWest Increases
Halifax is reducing rates today across its homemover, first time buyer, remortgage, product transfer, and further advance mortgage ranges. BM Solutions is also cutting rates today on personal ownership buy-to-let and let to buy, limited company buy-to-let, product transfers, and further advances.
In contrast, NatWest is increasing rates for its new business, existing customer, and additional borrowing mortgage ranges from 21 May. Following these changes, a two-year purchase fix to 65% loan-to-value (LTV) will start from 4.88% with a £995 fee, and the five-year equivalent will start from 4.97%.
Additionally, two-year end dates are moving from 31 July 2028 to 31 August 2028, and five-year end dates from 31 July to 31 August.
Accord Mortgages is also making changes, raising its minimum residential loan-to-income (LTI) income threshold for LTIs above 4.49x from £50,000 to £65,000. This adjustment applies to residential new business and additional loans, but not to first-time buyer applications, which have no minimum income requirement.
These changes may impact letting agents and inventory clerks monitoring mortgage product shifts for landlords and property investors.
Source: Mortgage Strategy