The reductions apply to all Buy to Let variable rates and complement the new competitive 2 year and 5 year fixed rates. The second charge lender has also simplified its proposition by integrating both its Professional and Standard Buy to let products into one single range.
The new offering will follow the existing Buy to Let pricing and terms and will include reduced rates available from 4.15% on 65% LTV, 4.90% on 2 year fixed rates and 5.30% on 5 year fixed rates.
Changes to its buy-to-let range will include reduced rates available from 5.49% on 60% LTV, 6.19% on 2 year fixed rates, 6.59% on 5 year fixed rates.
As well as 2 year and 5 year fixed rates introduced to Buy-to-Let range, there will be an alignment of professional and ‘standard’ buy to let ranges under one competitive proposition.
Consumer Buy-to-Let loans will now also be available.
Darrell Walker, Head of Sales Second Charge & Commercial Lending, OneSavings Bank, said: “Whether simplifying or expanding our range to meet the needs of brokers and their customers, we’re always looking for ways to enhance Prestige’s offering. These rate cuts are a testament to that commitment and the simplification to a single pricing option will also make things more straightforward for brokers.
Consumer Buy to Let makes up a growing element of the second charge loan market, and we know it’s something brokers have been keen for Prestige to provide. We’re therefore launching this new proposition to not only enhance our suite of Buy to Let mortgages, but directly meet this broker feedback.”
