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New Street announces rate cuts to fixed mortgages

BTL property

New Street Mortgages has announced rate cuts of up to 0.65% across its range of three- and five-year fixed rate mortgages.

The lender’s five-year fixed rate no-fee mortgage has been reduced from 4.04% to 3.39% at 75% LTV.

New Street has also reduced its five-year fixed rate mortgages with 1.5% fees from 3.64% to 3.09% at 75% LTV and from 3.29% to 2.74% at 65% LTV.

Meanwhile, the three-year fixed rate is now available at 3.34% with 80% LTV.

“[The] 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,” said Steve Griffiths, sales and distribution director at the Northview Group, of which New Street is a subsidiary.

“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.”

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