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.
Rely Launches Limited Edition Range for Portfolio Landlords
Rely, a part of OSB Group, has introduced a new limited edition product range aimed at landlords with 11 or more properties. These products offer rates up to 40 basis points lower than comparable products in Rely’s standard range and are available on two- and five-year fixed rate options. The limited edition products come with a 5% fee at 75% loan-to-value (LTV) and can be withdrawn at any time.
In addition to the limited edition range, Rely has also launched new low LTV products for portfolio landlords with four or more mortgaged properties. These products are available at 60% and 65% LTV, with discounts of up to 15 basis points compared to current equivalent standard products. Both two- and five-year fixed rate options are available for these new offerings.
West One Reduces Commercial Mortgage Rates
West One has announced a reduction in rates across its entire range of fixed-rate commercial mortgage products by 75 basis points. Following these changes, semi-commercial fixed rates now start from 7.34%, while commercial fixed rates start from 7.94%.
These developments may be of interest to UK letting agents and inventory clerks working with portfolio landlords or commercial property clients, as they reflect ongoing changes in mortgage product offerings and pricing.
Source: Mortgage Strategy