Newbury cuts residential, shared ownership and buy-to-let rates

Newbury Building Society has reduced rates by up to 0.65% across a number of mortgage products including standard residential, shared ownership, existing borrower, and buy-to-let.

Standard residential fixed rates at 75% LTV have reduced by up to 0.30%, with three-year fixed rates now starting from 4.64% and five-year fixes from 4.39%.

All shared ownership two and three-year fixed rates at 85% and 95% LTV are down by 0.20%, now available from 5.09% at 85% LTV and 5.39% at 95% LTV.

Existing borrower residential and shared ownership products have also decreased by 0.20%. A standard residential three-year fixed rate at 75% LTV is now available at 4.54%. Shared ownership three-year fixed rates have reduced to 4.99% at 85% LTV and 5.29% at 95% LTV.

Buy-to-let and expat fixed rates have reduced by up to 0.65%, with the largest reduction to a five-year expat product, down from 6.29% to 5.64%. A three-year fix is down by 30bps to 4.99%, while five-year fixed rates are now available from 5.24% for individuals and 5.64% for limited companies.

Products are available throughout England and Wales and cases are assessed on an individual basis with no credit scoring. 

Roger Knight, mortgage product manager at the Society, commented: "We're pleased to announce several rate reductions across our standard residential, shared ownership, and existing borrower mortgages as we continue our work to support borrowers looking for their first or next home.

"At the Society, we take pride in our reputation as a flexible lender and hope that the reductions we've made on some of our limited company buy-to-let, expat, and made to measure products will support borrowers with more complex or unusual mortgage needs."