Kensington has unveiled its new buy-to-let range, which includes deals from 5.24%.
The range, which caters for all types of landlords, featuring lending up to 85% LTV, required rental cover of 120% and fixed rates from 5.24%.
Borrowers can choose between a two-year fixed rate deal for 5.24% up to 75% LTV, with a 2.50% fee, or opt for the flat fee of £1,499 and pay a rate of 5.74%.
At 85% LTV there is a two-year fixed rate mortgage at 5.99% with a 2.50% fee and at 80% LTV, customers can choose between a two-year fixed rate at 5.69% with a 2.50% fee or go for a 5.99% rate with a flat fee of £1,499.
Kensington has reduced the rental cover it requires from 125% to 120%, following analysis of the buy-to-let market, in terms of both future demand and rental yields, it says.
Charles Morley, head of sales and product development at Kensington, said: “Increasing demand for private rental property is one of the few areas that commentators agree on at the moment and consensus is that there remains significant opportunity for investors in buy-to-let. The problem for landlords is that