News in brief - 22 November 2023

Suffolk Building Society has re-entered the shared ownership market, with a new two-year fixed rate product, available at 6.09% until 31 January 2026. The product is available for purchase and remortgage, and has no completion fee. There is a minimum loan size of £75,000 and a maximum loan size of £500,000, with a £149 application fee. After an initial period, the two-year fix has a revert-to rate of the society’ SVR (currently at 8.69%) minus 1.74% (with a 3% floor) until 30 April 2029.

Aldermore has launched new buy-to-let (BTL) and residential owner-occupied products. The new BTL products are fixed at 5.09% for five years at 75% LTV for both individual and company landlords and come with a 5% product fee. The residential owner-occupied products are available as three- or five-year fixes at between 65-90% LTV. The three-year fix comes with £999 or zero options, with the five-year product coming with a £1,999 fee option. The lender has also changed its maximum lending age limit to 75, in a bid to support people during the cost-of-living crisis.

Foundation Homes Loans has cut rates on a number of its BTL limited edition products and has launched a new five-year limited-edition fix. The products are within Foundation’s F1 range, which is for landlord borrowers with an almost clean credit history and cover a range of fixed-rate terms. These include a two-year fixed rate now at 6.59% and comes with a £1,495 product fee, a five-year, a five-year fix at 6.24% and a 1% fee, and a seven-year fix at 6.69%, also with a 1% fee. These products are all available at 75% LTV. The lender has also launched a brand new limited edition five-year fixed rate, available at 6.14% and a £2,995 fixed fee.



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