Here we are already at the end of August and it certainly feels to me as if the summer has flown by. What a month it’s been! Not only did August bring us some hoped-for sun (well, a little more than July at any rate), it also brought a raft of new products to the market. Despite the base rate rise at the start of the month, many lenders have been refreshing their propositions with rate reductions and making additions to their ranges to better support a range of consumer needs.

At the start of the month, Vida Homeloans announced rate cuts of up to 40bps across its standard, HMO/MUB, expat and fee saver 2- and 5-year fixed ranges and its 2-year variable range. Rates now start from 6.29% for a standard 5 year fixed up to 75% LTV in the ‘Vida 36’ tier. This comes with a 4% fee and a maximum loan size of £1m.

Aldermore has repriced its mortgage range, introducing new buy to let, residential owner occupied and product switch rates. As part of this repricing, its 5-year fixed limited edition buy to let product for individual and company landlords with single residential investment products, previously priced at 5.89%, is now available at 5.69% up to 75% LTV with a 5.00% fee. The lender has also introduced an open panel approach this month for specialist buy to let conveyancing processes, giving brokers the flexibility to use conveyancers of their choice.

Hampshire Trust Bank has made enhancements to its specialist buy-to-let and semi-commercial products. Reductions of up to 70 basis points have been made to 5-year fixed rates across its ERC Lite and ERC Plus ranges with rates now starting from 7.29%. The lender also launched a ‘fee plus’ buy to let product to replace its special edition that is available as a 5-year fixed rate at 6.89% for loans over £1m and 7.29% for loans between £100,000 and £1m. The product was also introduced for semi-commercial properties and has a 5% arrangement fee.

Santander has introduced a new buy to let fixed rate range with a £749 product fee for new business and product transfer clients to sit alongside the £0 and £1,749 fee options. The products include a 2-year fixed up to 75% LTV priced at 6.39% and a 5-year fixed at 5.83%, also up to 75% LTV. Selected buy to let fixed rates have also been reduced by between 0.04% and 0.20%.

Paragon Bank has added two 2-year fixed products to its buy to let range for non-portfolio landlords. These limited edition rates start at 4.85% (for properties with an EPC rating of A–C) and are available at up to 70% LTV with a 5% fee. A limited edition 5-year fixed product is also available up to 75% LTV for non-portfolio landlords and is priced at 6.05% when the EPC rating is A–C, increasing by 5bps for ratings of D or E.

Saffron for Intermediaries has launched both 2- and 5-year limited company buy to let products. With a maximum LTV of 75%, the 2-year discount product is priced at 6.39% with a £1,999 arrangement fee and the 5-year fixed rate is priced at 6.77% with a 1.5% arrangement fee. Both are available for purchase or remortgage.

Kensington has launched a new buy to let special product which is also available for limited company applications. This is priced at 5.59% for a 5-year fixed up to a maximum 75% LTV. Available for purchase or remortgage, the completion fee is 5% with a maximum loan amount of £750,000. The lender has also launched a 3-year fixed rate option across the majority of its buy to let and residential products with options for free valuation, no completion fee, assisted legals and a sliding ERC payment scale of 3%/2%/1% over the fixed period.

Fleet Mortgages has introduced new 2-year fixed rate products available across their three core ranges: standard, limited company and HMO/MUB. These are ideal for landlords looking for shorter-term certainty and are available up to 75% LTV with a 3% fee. These new products start at 5.79% for standard and limited company, whilst the HMO/MUFB rate is priced at 5.99%.

Newcastle Intermediaries announced that it was re-launching two 5-year buy to let products, including a fee-assisted option to support clients looking for assistance with costs. The two options are available up to 75% LTV. The fee assisted option is available at 6.74% with a £0 completion fee. It includes a free standard valuation up to £500,000 and increased overpayments are permitted of 10% per annum plus additional monthly overpayments of £499.99.

And last, but by no means least, Foundation Home Loans has announced new buy to let remortgage-only products in its F1 and F2 tiers. These 5-year fixed rates are available up to 80% LTV from 7.29% in F1 and up to 75% from 7.44% in F2. They come with a £1,295 fixed fee, free standard valuation, no application fee and £500 cashback.

So, lots of positive changes to give us all a boost as we return from our summer breaks and more reasons than ever to reach out to clients.