Hinckley & Rugby Building Society has cut the rates on many of its buy-to-let products from its core and niche product ranges.
It is expected the repricing will be welcomed by landlords, particularly those coming to the end of fixed rate deals, as Hinckley & Rugby Building Society product & proposition manager, Chris Holmes explained: “The buy-to-let market is not showing any sign of slowing down, with the expectation that the market will see a large increase in remortgage demand in the coming months as landlords come to the end of 5-year fixed rate deals taken out in 2017.
“The significant cuts to our buy-to-let rates have been designed to offer good value for landlords coming to the end of current deals.”
The new rates are as follows:
Buy-to-let Core
2-year discount 1.55% up to 60% LTV
2-year discount 1.70% up to 75% LTV
2-year fixed 2.10% up to 75% LTV
5-year fixed 2.59% up to 75% LTV
5-year fixed 2.50% up to 60% LTV
Buy-to-let niche including joint borrower sole proprietor, later life, non-owner & top slicing
2-year discount 2.10% up to 75% LTV
2-year fixed 2.60% up to 75% LTV
5-year fixed 3.05% up to 75% LTV (not including top-slicing)
