Manchester BS enhances mortgage range
A new 3 year fixed rate for purchases only has been launched at 4.39%, up to 85% LTV with an arrangement fee of £995. There is also a 4.64% 3 year fixed remortgage version, again up to 85% and with a £995 fee. The remortgage version provides a refund of the valuation fee and a free standard legal service. Capital raising is permitted for the purpose of home improvements for clients who wish to ‘improve, not move’.
The attractive buy-to-let (BTL) one year discount range has had its arrangement fee slashed to just £495, with a maximum 70% LTV available and rates starting at 3.74% variable.
For landlords seeking the security of a fixed rate mortgage, 4 all-new BTL products have been added. A 3 year and a 5 year fixed rate for purchase only, both fixed at 4.99%. The 3 year fix has a £995 arrangement fee and the 5 year fix has a 2.5% fee. The remortgage options for 3 and 5 years are both fixed at 5.24%, with the same arrangement fee structure. The maximum LTV is 75% on the 3 year fixed and 70% on the 5 year fixed. The 5 year fixed rate remortgage product also includes an incentive package.