Specialist lender ModaMortgages has announced that it has cut rates by up to 20bps across its buy-to-let range. Following the reduction, 2-year fixed rates now start from 3.39%, with 5-year options starting from 4.89%.
Mortgages are available to a variety of landlords, including individuals, limited companies, those with small or large portfolios, first-time buyers and first-time landlords. Borrowers can choose from a number of fee options, with LTVs up to 75%.
Just over a week ago, the lender introduced new £0 and 3% product fee options to its limited edition buy-to-let range. The £0 fee means landlords now have the option for no upfront costs, with the lender also offering free valuations on all property types and no application fees, while the 3% fee gives them more choice, alongside 2.5% and 5.5% options.
Darrell Walker (pictured), ModaMortgages’ Group Sales Director, said: “We’re delighted to announce we’re reducing rates by up to 20bps across our buy-to-let range.
“These reduced rates give brokers even more choice and, when combined with our new product fee options on our limited edition products, will help widen market access for those looking to invest in a rental property.”
