New Street Mortgages has made a number of rate cuts on its buy-to-let mortgages, with reductions to five-year and three-year fixed rate mortgages.
The Northview Group subsidiary’s five-year fixed range has been cut by up to 0.65 percentage points, with the 75% LTV five-year fixed rate no-fee mortgage reduced from 4.04% to 3.39%.
The lender has also reduced its five-year fixed rate mortgages (1.50% fee) by up to 0.55 percentage points, with the 75% LTV product falling from 3.64% to 3.09% and the 65% LTV mortgage from 3.29% to 2.74%.
New Street has also cut its three-year fixed rate 80% LTV mortgage to 3.34%.
Steve Griffiths (pictured), sales and distribution director at The Northview Group, said: “Today’s rate reductions from New Street are another step in our mission to beat the high street and offer great value for money for customers looking to secure a buy-to-let mortgage.
“Following the launch of our new lending criteria, these changes to our five-year fixed rate mortgages in particular make New Street a highly attractive option for borrowers. We firmly believe these new rates and New Street’s innovative approach to the buy-to-let market will resonate with borrowers looking to get a foothold or make their next purchase in the buy-to-let market.”