The latest rates from Mortgage Trust’s new product range come in at 2.99% for a 2 year fix at 75% loan to value (LTV) with a £1,995 fee, or 3.55% for a 2 year fix at the same LTV with no fee. As far as 5 year fixed rates are concerned, offers now start with rates from 3.9% at 75% LTV with a £995 fee, whereas a 2 year fix at 80% LTV now stands at 4.49% with no fee.
When it comes to high loan to value mortgage deals, however, Mansfield Building Society has launched new products aimed at existing borrowers moving home. Designed for house purchases on a 3 year initial term, these now include a choice of fixed or discounted rates. Equally, all of these deals are exclusive to mortgage intermediaries, who will earn a 0.35% procuration fee with completed applications.
Along with this, the lender’s higher LTV home mover deals now include a 3 year fixed rate up to 80% LTV at 2.59%, a 3 year fixed rate up to 90% LTV at 2.99%, as well as a 3 year discounted rate up to 80% LTV at 2.59% and a 3 year discounted rate up to 90% LTV, also at 2.59%. Each of these products come with free basic valuation and no application fee, although a completion fee of £499 and an early repayment charge of 3% is required during the first 3 years.
Mansfield’s latest rates are designed to encourage existing borrowers return and not avoid seeking assistance from their mortgage broker, while looking to compete with other competitive deals on the market. Examples of these include a 3 year fixed rate at 3.19% up to 80% LTV from Metro Bank or Virgin Money, and a 2.69% 3 year fixed rate at 90% LTV from Coventry Building Society.