Offa has reduced rates across its range of Sharia-compliant buy-to-let (BTL) products. As a result, the lender’s two and five-year fixed BTL rates have been cut by 0.32% and 0.34%, with additional rate drops on its discounted variable rate products of up to 0.24%. Offa is the only Islamic property finance provider offering a discounted variable rate product in the UK. The products also allow for unlimited additional payments without penalties and there is no early buyout charge.

Hargreaves Lansdown (HL) has introduced its own branded savings product in order to give clients greater choice and diversification benefits. The firm said that the product will differ from traditional savings products on its platform, and HL will be able to control the interest rate. The launch comes at the start of UK Savings Week, which encourages people to save and build financial resilience through better saving habits. Alongside the launch of the new savings products, HL will now enable its savers to manage their active savings account on the firm’s app.

Cambridge Building Society has updated its criteria and removed the maximum height limit on new-build blocks of flats. The society said that the updates look to provide new lending opportunities for brokers and members. As part of the changes, The Cambridge is now offering 80% LTV for residential and BTL lending on high-rise residences over eight storeys high, providing they were built after January 2020. The society said that it recognises the increasing construction of high-rise dwelling and modern building method to improve safety standards. The Cambridge’s mortgages are available on properties across England and Wales.

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