Buy-to-let rates snipped by The Mortgage Lender
The Mortgage Lender has cut interest rates on landlord mortgages across its product range.
The specialist lender has reduced the cost of its five-year buy-to-let fixed rate up to 75% of the property’s value.
Rates now start at 3.44% for standard properties with no completion fee and 3.55% with a 0.75% fee for Houses in Multiple Occupation. Both products come with a free valuation and customers who are remortgaging can choose from cashback or free standard legal services.
The lender has also cut the cost of its five-year fixed fee product, with the 75% loan-to-value mortgage reduced to 3.24% with a completion fee of £2,495, on loans from £25,001 to £3m.
Steve Griffiths, sales director at The Mortgage Lender, said: “Our borrowers, whether buying or remortgaging, have access to a competitive rate for five years alongside attractive incentives, allowing them to make decisions quickly, access capital for future investments and lock in rates now ahead of any potential movements on the Bank of England’s base rate.
“It is a competitive market, and the reprice reflects our continued desire to offer innovative solutions.”