All BTL & HPP products withdrawn and new ranges launched
Further to our email on Tuesday, 5 July, we have today launched our new rental rates across our entire Buy-to-Let (BTL), including Limited-Edition BTL, and Home Purchase Plan (HPP) product range. As a result of a further increase in the Bank Base Rate (BBR) we have reviewed our position.
Buy-to-Let product changes:
- For all UK resident, UK Expat and International resident BTL products, including HMO, MUFB, Green and £500k+ Limited Edition products, the rental rates will be increasing by 0.20%
- UK BTL Limited Edition (£500k+) rental rates will now start from 3.69%, with UK BTL HMO and MUFB starting from 3.89% and the application fee remains at a set £5,000
- All ‘Green’ UK BTL (including HMO and MUFB) rental rates retain the 0.10% reduction from the standard rental rate equivalents and will start at 3.89%
Home Purchase Plan product changes:
- All UK resident, UK Expat and International resident HPP products, including Green and £500k+ products, rental rates will be increasing by 0.25%
- All 2 year 65% FTV new business HPP products are temporarily withdrawn
- Rental rates for Higher FTV HPP products up to 90% FTV, will now start from 4.60% (4.50% for Green products)
- All ‘Green’ UK HPP rental rates retain the 0.10% reduction from their standard rental rate equivalents with the 2 year 80% FTV product starting at 3.94%. For HPP products over £500k, the 0.20% reduction remains with rental rates for 2 year 80% FTV starting at 3.84%
Full details of our new rental rates can be found here. Please note, to provide advice on HPP products you are required to hold specific HPP permissions with the FCA.
If you have any queries or require further information our team remains available via phone and email, details of which can be found here.
Thank you for your continued support.