We have signed up to the CML’s Statement of Practice for Buy to Let Lending, which requires intermediaries to provide landlords with information about the risks associated with buy to let investments and their responsibilities towards their tenants.
The rules and regulations around buy to let investments are updated regularly and we recommend that you direct landlords to a specialist organisation such as the National Landlords Association that can help them understand the implications of this type of investment.
National Landlords Association
020 7840 8900
New Street Mortgage – Lender Base Rate Setting Policy
Your mortgage interest rate affects the amount you have to pay each month. If you have a fixed rate mortgage, your interest rate will not change for the duration of the fixed term. If you have a variable interest rate mortgage, or your fixed term has come to an end, your interest rate may change from time to time. You can find out what type of interest rate applies to your mortgage, and how long any fixed term will last, in your mortgage offer letter.
Our Lender Base Rate is set using the 90 Day London Interbank Offered Rate known as 90 Day LIBOR (this is the rate at which banks will lend money to each other) with reference to our operating and funding costs. You can check 90 Day LIBOR here:
90 Day Libor
Our current Lender Base Rate is 0.47% with effect from 11th May 2017.
Historic Lender Base Rates
13th February 2017 to 10th May 2017 - 0.52%
11th November 2016 to 12th February 2017 - 0.56%
11th August 2016 to 10th November 2016 - 0.54%
4th February 2016 to 10th August 2016 - 0.75%
You can find more information about how we calculate interest and when we can change our Lender Base Rate in your Mortgage Conditions.