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TODAY'S OTHER NEWS

Buy-to-let rates cut by TSB

TSB has launched a range of new fixed rate buy-to-let mortgage products with interest rates lowered on certain products by up to 0.4%.

The latest two, three and five-year term purchase and remortgage products come at 60%, 70% and 75% loan-to-value (LTV) bands, with borrowing rates starting from just over 2%.

The lowest buy-to-let two-year fixed rate starts at 2.09% to 60% loan-to-value (LTV) borrowers and a five-year fix at 2.99% up to 70% LTV, both available with £1,995 arrangement fees.

Last week, specialist lender OneSavings Bank suggested that buy-to-let investors are ‘better positioned to withstand market volatility’ caused in part the UK’s decision to leave the European Union.

The Kent-based challenger bank, like many mortgage lenders, including TSB, are hoping to win greater business from private landlords looking to add to their property portfolios in the coming months after announcing that it will lower its standard variable rate by 0.25% from this week to match the Bank of England’s cut to its base rate.

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