Penrith Building Society has launched three new 2-year fixed rate products, all at 5.19%.
These include the Heartland Purchase fixed rate, which has no application or product fees and allows borrowing up to 90% loan-to-value (LTV) with a maximum loan of £500,000, as well as the National Purchase fixed rate, with no application fee and a product fee of £499.
It also allows borrowing up to 90% LTV, with a maximum loan of £500,000.
The final new product is the Heartland Remortgage, which has no application or product fees and allows borrowing of up to 80% LTV, with a maximum loan of £750,000.
All of the above products are fixed for 2-years from completion.
In addition, the society made a number of changes, with its expat buy-to-let mortgage now at a pay rate of 5.59%, previously 7.23%, while its Heartland Remortgage 2-year discounted product has increased to a maximum LTV of 90%.
Tim Vigeon (pictured), head of products, said: “We are delighted and excited to introduce our fixed rate products to the market.
“The rates, combined with our common-sense underwriting will make the dreams of those wishing to buy a home or remortgage their existing home a reality.
“Our other changes reflect feedback that we have received and enhance our overall proposition within the market.
“We continually review our products and criteria with customers and brokers at the heart of our thinking and further changes will be announced over the coming weeks.”
