ModaMortgages has reduced rates by 5 basis points on selected limited edition five-year fixed buy-to-let products, targeting both individual landlords and limited companies.
The specialist lender’s revised pricing applies to loans up to 75% loan-to-value and spans a variety of property types, including single dwelling properties, houses in multiple occupation (HMOs), and multi-unit freehold blocks (MUFBs).
Following the reduction, five-year fixed rates now begin at 4.64% for single dwellings and 4.74% for HMOs and MUFBs.
The updated rates accompany ModaMortgages’ existing two-year limited edition products, which start at 3.24% for single dwellings and 3.34% for HMOs and MUFBs.
Darrell Walker, group sales director at ModaMortgages, said: “We’re pleased to announce a 5bps reduction on our limited edition 5 year fixed rate products.
“This move reinforces our commitment to offering competitive solutions for landlords in a challenging market.”
ModaMortgages’ buy-to-let range is available to a broad spectrum of landlords, with both individual and company borrowers eligible.
The lender also provides a selection of fee structures and offers free property valuations across the range.
