ModaMortgages has expanded its 80% loan-to-value (LTV) range with the launch of limited edition products featuring a 5% fee option.
The specialist lender has introduced two new single dwelling products – a two-year fixed rate at 3.59% and a five-year fixed rate at 4.99%. Both carry the new 5% fee structure.
In addition, Moda has unveiled two new products for small HMOs and multi-unit freehold blocks, covering properties with up to six bedrooms or units. These include a two-year fixed rate at 3.69% and a five-year fixed rate at 5.09%, also with a 5% fee option.
The new range sits alongside the lender’s recently added 3% and £1,999 fee options, while borrowers may also select a 0% fee alternative. The maximum loan size is £750,000, with products available to both individuals and limited companies.
Free valuations apply across the full product range, including the latest limited edition options.
Darrell Walker, group sales director at ModaMortgages, said: “This latest limited edition launch is a further demonstration of our commitment to ensuring brokers and their clients have as much choice as possible.
“This new 5% option, along with the recent introduction of 3% and £1,999 options, gives landlords the chance to explore new opportunities in a market limited with options above 75% LTV, particularly when you factor in allowing the borrower to add the fee to the loan, even at 80% LTV.”
