CHANGES TO PRODUCTS AND VARIABLE RATES

We wanted to let you know that we made changes to our products and variable rates

Changes to products

On 6 September, we increased the following rates:

• Core 75%, 85% and 90% LTV Full C&I 5 Year fixed rates with a £999 fee have been increased by up to 0.22%, available to new and existing customers.
• Core 65% - 95% LTV 2 and 5 year fixed rates have been increased by up to 0.33%.
• £1m+ 65% - 85% LTV 2 and 5 year fixed rates have been increased by up to 0.25%.
• Core BTL 60% - 80% LTV 2 and 5 year fixed rates have been increased by up to 0.15%.
• £1m+ BTL 60% - 75% LTV 2 and 5 year fixed rates have been increased by up to 0.25%.

Just so you know - our new rates are now showing on all sourcing systems and our online application system. Our mortgage illustrator will be updated this afternoon.

You can find our current rates here.

Changes to variable rates

Following the decision by the Monetary Policy Committee on 4 August 2022 to increase the Bank of England Base Rate to 1.75%, we’ve made some changes. On 6 September 2022, we increased our Standard Variable Rate to 5.99%, our Offset Variable Rate to 6.20% and our Offset Variable Investment Housing Loan Rate to 6.60%.

What happens with cases at application or offer stage

All Variable Rate Discounted Offset products have seen an increase to the interest rates from 6 September 2022 in line with the updated variable rate. All new revert-to-rates are live from 6 September 2022.

What happens with existing customers

Customers who are impacted by this rate change will be contacted to let them know of any changes to their mortgage.

If you’ve got any questions, you can get in touch with your Business Development Manager.