Bank of Scontland to Review Buy to Let and Self Cert Mortgages
Bank of Scotland plans to reprice mortgages from its buy-to-let and self cert ranges in an effort to keep pace with other lenders.
Mortgages from the two ranges will be withdraw today at 5pm, and relaunched with new rates from tomorrow.
The HBOS owned bank refused to comment on what the new rates would be.
Brokers were told in an email 16 mortgages from the bank’s buy-to-let and self cert ranges would be withdrawn.
Bank of Scotland will also cut the maximum loan-to-value on mortgages for new build flats by 5 per cent to 75 per cent.
A Halifax spokeswoman said:
We price in line with the market. Over the past few weeks, most major lenders have increased their pricing on a number of occasions.
It is not appropriate for us to pick up the significant capacity deficit left by lenders who have departed from this market.
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it’s getting harder to find cheap finance for buy to let sector investors