Platform increases rates by up to 44 bps in reprice

Essex Home Finance
Within the lender’s new business range it is making several changes.
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Platform is increasing rates by up to 44 basis points on some products on Wednesday as part of a major reprice.

The lender is also cutting rates on a number of deals.

Within the lender’s new business range it is making the following changes:

Mainstream 

  • Two, three and five-year fixed rate products at 60% to 75% LTV increased by up to 42 bps
  • Two-year fixed rate products at 80% and 85% LTV with £1499 fee increased by up to 3 bps
  • Two, three and five year fixed rate products at 95% LTV reduced by up to 26 bps
  • Five-year fixed rate product at 60% to 80% LTV with £1999 fee increased by up to 32 bps

Help to Buy 

  • Two-year fixed rate products at 60% to 75% LTV with £999 fee increased by up to 34 bps
  • Two-year fixed rate product at 60% LTV with £0 fee increased by 26 bps
  • Five-fixed rate products at 60% to 75% LTV increased by up to 44 bps

Professional

  • Two and five-year fixed rate products reduced by 10 bps

Platform is also making the following changes to its product transfer deals:

  • Two, three and five- year fixed rate products at 60% to 75% LTV increased by up to 42 bps
  • Two-year fixed rate products at 80% and 85% LTV with £1,249 fee increased by up to 3 bps

Buy-to-let

  • Two-year fixed rate products at 60% and 65% LTV with £1,499 fee increased by up to 22 bps
  • Two-year fixed rate product at 60% LTV with £0 fee reduced by 2 bps
  • Five-year fixed rate products at 70% and 75% LTV with £1,499 fee reduced by 5 bps
  • Five-year fixed rate product at 60% LTV with £1,499 fee increased by 5 bps

Help to Buy

  • Two, three and five-year fixed rate products at 60% LTV increased by up to 44 bps
  • Three and five-year fixed rate products at 75% LTV with £499 and £0 fee increased by up to 43 bps

Buy-to-let

  • Two-year fixed rate product at 60% LTV with £0 fee reduced by 2 bps
  • Two-year fixed rate products at 60% and 65% LTV with £1,999 fee increased by up to 22 bps
  • Five-year fixed rate products at 70% and 75% LTV with £1,999 fee reduced by 5 bps
  • Five-year fixed rate product at 60% LTV with £1,999 fee increased by 5 bps

Original Article from Mortgage Strategy 01/11/21

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Address : 8 Kingsdale Business Centre, Regina Road, Chelsmford, Essex, CM1 1PE

Essex Home Finance Ltd is an Appointed Representative of Mortgage Intelligence Ltd which is authorised and regulated by the Financial Conduct Authority under number 305330 in respect of mortgage, insurance and consumer credit mediation activities only.

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