New Street Mortgages cuts Buy to Let prices by up to 60 basis points

by User Not Found | Nov 02, 2016
New Street Mortgages, the intermediary only Buy to Let lender catering for customers whose needs don't quite fit the high street, has cut prices by up to 60 basis points.
New Street Mortgages, the intermediary only Buy to Let lender catering for customers whose needs don't quite fit the high street, has cut prices by up to 60 basis points.

The reprice, which applies to the majority of the product range, offers better value for professional and accidental landlords looking for either a fixed or discounted rate mortgage.

Rates start from 2.44% for a 2 year fixed rate buy to let mortgage up to 75% LTV, with a 1.50% completion fee. Fixed rates are also available at 80% LTV from 2.79% (1.50% fee) or 3.34% with no completion fee. Reductions also apply to 3 and 5 year fixed rates as well as 5 year discounted rate products.

New Street Mortgages is a new lending brand with an innovative, analytics-driven proposition that provides quick and robust online decisions. They offer a geographically tailored approach to rental cover, with rental cover ranging from 115% - 125% at 5.50% to 80% LTV, subject to minimum property valuation and postcode. 

Steve Griffiths, Head of Sales and Distribution at New Street Mortgages said:

Following on from our recent whole of market launch, these price reductions mean that New Street now offers even better value for Buy to Let customers, especially those requiring higher Loan to Values or facing challenges with rental yield affordability.

Whether a first time investor entering into a Let to Buy transaction, or an experienced professional landlord, these changes, when combined with our innovative affordability and capability to deliver instant decisions, provide an even more compelling proposition for customers whose needs are not met by mainstream lenders.