Lloyds Banking Group has today cut rates by up to 20 basis points across the Halifax Intermediaries, Scottish Widows Bank and BM Solutions brands.
A two-year fix to 60 per cent LTV with Halifax Intermediaries is reduced from 2.69 per cent to 2.49 with no fee, while the tracker option is reduced 10 basis points to 2.49 per cent.
A new-build two-year fixed rate is also reduced 0.2 per cent, from 2.99 to 2.79 per cent with no fee.
Halifax Intermediaries head of sales Ian Wilson says: “Two year mortgage terms remain the most popular and we are pleased to be able to announce a succession of rate reductions across this area of the product range. With these reductions across all LTV ranges, we are providing brokers with an even more competitive suite of products to offer their clients.”
Scottish Widows Bank has cut its 60 per cent LTV, two-year fixed rate professional product from 3.19 per cent to 2.99.
The lender has also reduced rates for 75, 80 and 85 per cent LTV products by up to 0.2 per cent, across its professional, tracker professional and flexible mortgage ranges.
Among the lowest rates now offered by SWB is a 75 per cent LTV, two-year tracker professional product, reduced 0.1 per cent to 2.59 with a £999 fee. The same rate is offered on a fixed-rate basis also.
Scottish Widows Bank managing director Mike Jones says: “There is a clear requirement for niche products, such as professional and flexible mortgages, from a segment of the home buying public.
“We are making a number of changes at the start of the year to our product range and that will provide brokers with more products for their clients.”
BM Solutions has cut a two-year fixed-rate to 60 per cent LTV by 10 basis points to 3.39 per cent. A 0.5 per cent fee is applied. The same product is also offered at 3.09 per cent with a £995 fee option.
BM Solutions head of sales Phil Rickards says: “We have refreshed our product range to reflect the strong nature of the buy to let market. These further rate reductions, alongside our award winning service should help brokers to place more business for their Landlord clients, further reinforcing our commitment to the buy-to-let market”
