ModaMortgages has removed application fees from its limited-edition buy-to-let mortgage products, weeks after reducing rates across the range.
The lender said application fees have been scrapped on its limited-edition two-year and five-year fixed-rate products, meaning borrowers using those deals will no longer face any upfront application costs.
The move follows recent pricing reductions, with two-year fixed-rate products now starting from 3.34% and five-year fixed rates from 4.94%.
ModaMortgages also continues to offer free valuations across its buy-to-let range, including products for houses in multiple occupation (HMOs) and multi-unit freehold blocks (MUFBs).
The products are available to both individual and limited company landlords, with lending available up to 80% loan-to-value (LTV).
Becki Fraser-Tucker (pictured), head of sales at Chetwood Bank for ModaMortgages, said: “We’re always pushing to make our buy-to-let range work harder for brokers, and scrapping the application fee is a big move. We already knew the range stacked up, but this takes it to another level.
“With no application fee and free valuations, it means there’s nothing to pay upfront on our limited-edition products. Add in those recent rate reductions, and you’ve got a proposition that’s seriously hard to ignore.
“There’s never been a better time to place a case with us. So if you haven’t tried ModaMortgages yet, now’s the perfect moment to see what smarter, faster, simpler buy-to-let really looks like.”
ModaMortgages said the latest changes are designed to strengthen its proposition for brokers and landlords by reducing upfront costs while maintaining competitive pricing across its buy-to-let range.
