Mortgage Trust has launched six buy-to-let fixed rate mortgages two weeks after pulling its entire range due to a spike in swap rates.
The fixed rates include three two-year fixed rates at 3.15 per cent, 3.65 per cent and 3.99 per cent with product fees of 3 per cent, 2 per cent and 1.25 per cent respectively. These deals are for purchase and remortgage customers and include a free valuation.
The remaining fixed rates are for remortgage customers only. They are two-year deals at 3.3 per cent, 3.8 per cent and 4.15 per cent with product fees of 3 per cent, 2 per cent and 1.25 per cent respectively. A free valuation and legals are available.
Mortgage Trust, part of the Paragon Group, has also launched four new trackers. These include two 65 per cent LTV products with no product fee and rates of 3.85 per cent and 3.95 per cent, the latter for remortgage customers only, with a free valuation.
Its sister lender, Paragon Mortgages, which also pulled its fixed rate range last month, it yet to relaunch.
Paragon director of mortgages John Heron says: “We are pleased to launch these new, very competitive buy-to-let products that are suited to landlord customers who are looking to grow their property portfolios.
“Due to volatility in the swap markets at the end of June we temporarily removed our fixed rate products. We are now back with a great mix of products, with a range of rates and free valuations available.”
Swap rates, which lenders use to hedge potential interest rate rises and are linked to mortgage pricing, spiked after the US Federal Reserve hinted on 19 June it could wind up its programme of quantitative easing.
Two and five-year swaps jumped 26 basis points and 51 points to 1.01 per cent and 1.85 per cent between 17 and 24 June before falling back to 0.8 per cent and 1.6 per cent on 5 July.