Lenders announce new products, rate cuts, and policy changes
InterBay, part of specialist lender OSB Group, has introduced a series of changes to its commercial lending portfolio, including reduced rates, a lower minimum loan threshold, and a new owner-occupier product line.
The lender’s refreshed offering sees selected commercial mortgages now starting from 6.54%, while semi-commercial rates begin at 5.49%, both with a 5% fee. The minimum loan size for standard products has also been cut from £150,000 to £125,000.
InterBay’s latest range includes new commercial owner-occupier options and revised products for commercial investment, with rate reductions of 0.20% on select offerings, particularly for properties with at least 55% residential value.
Meanwhile, buy-to-let lender Landbay has launched its Summer Special range, featuring rate reductions of up to 0.44% compared to its existing products. The new line-up introduces five products, including three five-year fixed rate mortgages and a couple of two-year fixed-rate options, all available up to 75% loan-to-value (LTV).
Rates for the five-year fixes start at 4.35%, while two-year fixes begin at 4.39%. The products cater to standard properties and loans from £30,000 to £2 million. Landbay’s variable fee structure remains in place, and brokers can compare the full range using the lender’s buy-to-let affordability calculator.
Guernsey-based investment management firm RAW Capital Partners has also updated its product suite by raising its maximum LTV from 55% to 70% for the first time in a decade. The lender has also reduced rates on its 65% and 70% LTV mortgages by 0.25% and 0.50% respectively, with rates for foreign nationals now starting at 6.24%.
In a move to simplify its process, RAW has eliminated additional risk premiums for applicants from high-risk countries, instead incorporating jurisdictional risk into standard pricing. The lender has also reinstated a flat £950 repayment fee and continues to offer decisions in principle within one business day, with no stress testing.
Other lenders have also announced mortgage rate reductions earlier this week.
The Co-operative Bank for Intermediaries has reduced selected residential mortgage rates by up to 19 basis points. New and existing customers can now access a two-year fixed rate at 4.10% and a three-year fixed rate at 4.06%, both at 60% LTV with a £999 fee and an option for £250 cashback.
Principality Intermediaries has also implemented a mix of rate increases and decreases across its mortgage range. Notable reductions include a 0.15% cut on the Help to Buy (Wales) five-year fixed at 75% LTV and the holiday let two-year fixed at 60% LTV with no product fee. However, several residential, buy-to-let, and shared ownership products will see rate increases, with the largest rise of 0.22% on five-year fixed 95% LTV offerings.
Digital lender Atom bank, meanwhile, has lowered its standard commercial mortgage fixed rates by 0.25%. New applications for commercial investment now start at 5.88%, while owner-occupied cases begin at 5.68% for loans at 45% LTV or below. An additional 0.25% reduction applies to loans between £1 million and £4 million.
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