The Cambridge Building Society has recently announced significant rate reductions across its suite of residential and buy-to-let mortgage products, a move that can significantly impact both homeowners and prospective landlords.

Residential Mortgage Rates

• Interest-Only Mortgages: The interest-only two-year fixed-rate mortgage at 70% loan-to-value (LTV) has seen a notable decrease from 6.39% to 5.64%.
• High LTV Mortgages: For those looking at higher LTV mortgages, a two-year fixed rate at 80% LTV has been reduced by 35 basis points to 5.64%. Additionally, within the 95% LTV bracket, a five-year fixed rate has dropped from 6.19% to 5.69%, and a two-year fixed rate has been reduced from 6.39% to 6.19%.

Shared Ownership Rates

• Shared Ownership: In the shared ownership category, rates at 95% LTV have also been cut. The two-year fixed rate is now 6.04%, down by 45 basis points, and the five-year fixed rate is reduced by 20 basis points to 5.99%.

Buy-to-Let Mortgage Rates

• Buy-to-Let Mortgages: For buy-to-let properties, two and five-year fixed rates at 80% LTV are now 6.09% and 5.64%, respectively.
• Expat Buy-to-Let: The expat buy-to-let five-year fixed rate at 75% LTV has seen a reduction of 40 basis points, now at 6.09%.
• Holiday Let Products: A five-year holiday let product has decreased from 6.29% to 5.94%.

New Product Options and Support for Landlords

In addition to these rate cuts, The Cambridge has expanded its product offerings. This includes:

• New Fixed-Rate Options: The introduction of two-year fixed-rate options in both expat buy-to-let and holiday let ranges.
• Credit Assist Buy-to-Let Product: A novel buy-to-let product tailored for landlords with minor credit issues, enhancing the scope of financial support available.