It reduces rates, increases discounts, and removes booking fees
Newbury Building Society has introduced an enhanced range of buy-to-let products, alongside the removal of booking fees.
The updated offerings cater to various segments, including limited company, holiday lets, and expats.
The new range has a five-year fixed rate that was reduced from 5.79% to 5.49%, a limited company five-year fix repriced from 6.29% to 5.89%, an expat five-year fix with rates dropped from 6.69% to 6.29%, and holiday let five-year fixed rates reduced from 6.69% and 6.89% to 6.29% and 6.49%.
Discounts for three-year limited company, expat, and holiday let deals were also increased by between 0.25% and 1.75%.
The products are available across England and Wales. However, the expat products are not accessible to individuals residing in an EEA country.
“It makes for a very positive start to the new year when we’re able to make such a large swathe of reductions and improvements to our buy-to-let products,” Roger Knight (pictured), lending manager at Newbury Building Society, commented.
“The Newbury has always been known for its flexible approach to specialist mortgage lending, and we know many brokers turn to us for more complicated or unusual buy-to-let cases. We’re very pleased to have been able to respond to the increased stability within the mortgage market in this way.”
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