News in brief - 9 February 2024

Market Financial Solutions (MFS) has reintroduced fixed rate buy-to-let (BTL) mortgages and reduced all of its tracker rates. The lender is offering two and three-year fixes with no rate stressing. MFS’ fixed-rate products start from 4.59% and has also reduced its tracker rates by between 0.20% and 0.25%. MFS specialises in handling large and complex loans, offering leverage and loan size, using methods such as deferred interest, rolled-up interest and top slicing.

Fleet Mortgages has launched new limited edition, five-year fixed products with zero completion fees across its three core ranges, standard, limited company and HMO/MUB. The new fixes are available up to 75% LTV with standard/limited company borrowers being able to access a rate of 5.59%, while the rate is 5.93% for HMO/MUB borrowers. There is a £199 booking fee for each product and come with free valuation for both standard and limited company borrowers for properties up to a value of £500,000.

Skipton Building Society has launched a new tracker bond product, tracking at the level of the Bank of England (BoE) base rate for two years. As a result, the tracker bond will have an interest rate of 5.25% until at least the BoE’s next base rate announcement. Savers can open their accounts with deposits of between £500 and £1m and won’t be able to withdraw or close the account until maturity at the end of the term. As a tracker product, the society’s new account will rise or fall as the BoE adjusts its own base rate.

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