"It was clear that ICRs were under considerable strain with the stress test of fixed rates and cases weren’t fitting."
Quantum Mortgages has launched a new 'Switch to Fix' offering, allowing brokers to switch their landlord client's product to a fixed rate up to two years after completion.
In addition, the specialist buy-to-let lender has reduced its lifetime tracker to allow for yesterday's base rate rise.
Quantum has also reduced its two-year discounted rates and reduced ERCs across the range. Its two-year discounted product has also been expanded to include specialist, expat and foreign national applicants.
Alongside the changes, Quantum has introduced a new one-year discounted tracker across the entire range.
Spencer Gale, sales director at Quantum Mortgages, commented: “As the financial markets continue to recover from the fallout of the mini budget presented by the government on the 23rd September, we all know that the whole supply chain within the mortgage market has come under considerable strain these last 4 weeks.
"After speaking to hundreds of brokers across 16 events in October, it was clear that ICRs were under considerable strain with the stress test of fixed rates and cases weren’t fitting, so we looked at our product range for potential alternatives that may help those struggling ICRs."
