Sainsbury Bank has changed its 2-year and 5-year fixed rate residential and remortgage products, cutting a number of rates while increasing its standard variable rates for buy-to-let and residential ranges by 0.25%.
In its 2-year fixed rate purchase range, the lender reduced its 75% LTV mortgage to 1.85% with no product fee and its 80% LTV product to 1.64% with a £995 product fee.
For its 5-year fixed rate purchase range at 80% LTV the rate was reduced to 2.08% with a £995 product fee and at 95% LTV it was increased to 3.49% with no product fee and £500 cashback.
And for the 2-year fixed rate remortgage at 75% LTV it was reduced to 1.53% with a £995 product fee and £250 cashback or fee assisted legals
For Sainsburys’ 5-year fixed rate remortgage range, at 75% LTV the mortgage was reduced to 1.94% with a £995 product fee and £250 cashback or fee assisted legals.
Furthermore Sainsbury’s Bank standard variable rate (SVR) has increased by 0.25% to 4.49% and its buy-to-let standard variable rate has risen by 0.25% to 5.24%.