Rates start at 2.29% at 80% LTV and both products offer free basic legal and valuation fees as well as a £99 application fee.
The interest rate has also been reduced by 0.20% on its 5-year fixed rate buy-to-let product, taking it to just 4.49% at 75% LTV. The society’s 2-year fixed rate buy-to-let product (3.64% at 75% LTV) which was initially launched for Cambridge select and direct customers only is now available to all Intermediaries. The maximum loan size for this product has increased from £250k to £500k.
Andy Lucas, commercial director at The Cambridge, said: “These two new products have been added to our current range to ensure that we have equally competitive options for those looking to re-mortgage. We have also made improvements to our buy-to-let range to offer our customers even better value.”
Intermediaries can register, submit and complete AIP’s and full applications, generate KFI’s, and obtain current product and mortgage rate information via Cambridge Mortgage Master. The society also has a dedicated website for Intermediaries. All of the latest information on products, lending criteria and general information about the society can be found at www.cambridgebs.co.uk/intermediaries.
The society also uses the MATS system which is designed to make the processing of mortgage applications smoother and enables Intermediaries to receive updates on their cases via text message, email and personalised web pages.