Berkshire-based mutual, Newbury Building Society, has announced that it has strengthened its buy-to-let proposition for individual borrowers as part of a summer sale spanning its mortgage range, enhancing discounted variable rates across its three and five-year discount products.
The changes give brokers greater choice for landlord clients looking to purchase, remortgage, secure a product transfer or expand their portfolio, alongside a wider set of rate reductions and product enhancements across residential and shared ownership lending.
On the residential side, Newbury has refreshed its discounted and fixed-rate products up to 75% LTV, including new tailored discount options for purchase and remortgage customers. Existing borrowers will also benefit from reduced fixed rates and the introduction of a new two-year fixed-rate product.
In shared ownership, rates have been reduced across both the 90% and 95% loan-to-share ranges, while existing borrowers now have access to an improved selection of fixed and discounted products. Several of the changes include fee-free remortgage solutions on many applications.
Karen Smith, head of intermediary sales at Newbury (pictured), said the update reflected the society's efforts to give brokers more flexibility. "These latest product changes show our commitment to supporting brokers and their clients with flexible products and a lending approach that takes the whole story into account," she said.
"We're pleased to be reducing rates across a number of our key products while also introducing additional options that provide greater choice and value.
"At the heart of everything we do is a common-sense, flexible approach to lending. We know clients don't always fit neatly into a box, and our experienced team works closely with brokers to understand individual circumstances and find solutions that work. As market conditions continue to evolve, we're focused on helping brokers make the most of every opportunity with products and services they can rely on."
