Latest Buy to Let rate trends

Since the dramatic budget last week we have seen mixed activity in the Buy to Let rates market.  Some lenders have raised some or all of their rates, some have scaled down the number of deals and few have fully withdrawn their rates temporarily (Keystone, Lendco).  

How property investors react to the budget will have a significant impact on the Buy to Let sector going forward.  

• – The sharp increase in stamp for second home purchases from 3% to 5%.
• – The stamp duty threshold reverting to pre 2022 levels in 2025.
• – The increase in CGT for second homes

Will all impact the landlord investors. 

Some lenders have moved rates both ways, raising some rates in one hand and reducing some deals on the other.  The trend among the lenders seems to be upwards.  However, some are bucking the trend and have lowered the rates.  Stand out is Santander.  While larger lenders of the Buy to Let market like BM Sols  and TMW are holding the line, Santander has cut rate across the Standard and Green ranges on both 2 y and 5 Y deals.  

The affect of these changes on the maximum loan amounts are seen on our calculator: www.axessmax.com

Aldermore Mortgages

Has raised rates for 2 Y deals.

Bank Of Ireland

Has raised rates for all product ranges.

CHL Mortgages

Has raised rates for all product ranges.

Chorley BS

Has lowered rates for  all product ranges.

The Co-operative Bank (Including Platform)

No change for  all product ranges.

Fleet Mortgages

Has raised rates for all product ranges.

Withdrawn  5 Y deals.

Foundation Home Loans

Standard deals – rates raised. 

No change for both Expat & Holiday Lets. 

Landbay

Standard deals – rates raised. 

No change for both Expat & Holiday Lets. 

Leeds BS

Has raised rates for 2 Y deals.

Mansfield BS

Has lowered rates for  2 Y deals.

Melton Building Society

Has lowered rates for  all product ranges.

Paragon Banking Group PLC

No change for  75%.

Precise Mortgages

Raised rates across all LTV for both 2 & 5 Yr deals 2 Y deals.

Only a single LTV currently available.   

Withdrawn several LTVs.   

Lower tiers with lower rates have disappeared. 

Principality BS

Raised rates across all LTV for both 2 & 5 Yr deals 

Santander UK Plc

Lowered rates across all LTVs for both 2 & 5 Yr deals 

Suffolk Building Society

Lowered rates across all LTV for both 2 & 5 Yr deals 

This is for Standard deals only. 

All deals up to 80% now have lower rates. 

No change for both Expat & Holiday Lets. 

TSB

Has raised rates for  remortgage products.

Vida Homeloans

Mixed bag. Changes to  5 Y deals.

Raised rates some  over 75% products. 

Lowered rates for some  75% and under. 

No change for  2 Y deals. 

Virgin Money

No change for  2 Y deals. 

Has raised rates for 5 Y deals. 

This is for Standared & Portfolio landlords. 

Zephyr Homeloans

Lowered rates across all LTV for 2 yr deals  

Raised rates across all LTV for 5 yr deals  

All other Lenders

No change.