Three more BTL mortgage lenders lower rates

Three more BTL mortgage lenders lower rates

9:04 AM, 13th February 2025, About 4 hours ago

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Three more buy to let lenders have joined the race this week to lower BTL mortgage rates after the Bank of England lowered its Base Rate.

Paragon and Fleet have already cut their BTL mortgage rates and now Accord Mortgages has unveiled its second cut within a week.

It is lowering rates on its BTL offerings by 0.10% across the board, encompassing products up to 80% LTV.

Notable changes include:

  • A two-year fixed rate at 4.29% (previously 4.39%) at 60% LTV, including a £3,495 fee, free valuation and legal services.
  • A two-year fix at 4.64% (down from 4.74%) at 75% LTV, with a £1,995 fee, free valuation and legal services
  • A five-year fix at 5.19% (previously 5.29%) up to 80% LTV, with a £995 fee, free valuation and legal services.

Accord’s mortgage product manager Gemma Hyland said: “We’re pleased to be passing on the benefit of market fluctuations to our brokers and their clients, ensuring we deliver the best possible value we can, and providing options for borrowers, whether they are looking to buy or remortgage their own home, or for a rental property.”

Landbay announces reductions

Landbay has also announced reductions reaching 0.30%, focusing on its small HMO/MUFB range, now starting at 5.04% for a five-year fixed rate (75% LTV).

Its limited-edition products, including AVM-supported options, have seen a 0.20% decrease, with five-year fixed rates from 4.69% (75% LTV).

Trading company products have experienced similar cuts.

The lender’s sales and distribution director, Rob Stanton, said: “With the great news of a cut to interest rates, we’re pleased to follow suit by announcing further rate reductions across our range including our most popular products.

“With landlords still active in the market and exploring investment opportunities, we want to be supporting our broker partners to help make those purchases happen and ensure they are well positioned to answer any and every demand.”

Foundation introduces Property Plus and HMO Plus

Adding to the wave of changes, Foundation Home Loans has introduced Property Plus and HMO Plus, catering to landlords with non-standard properties.

These new products offer two- and five-year fixed rates from 6.99% and 7.09% respectively (both up to 75% LTV).

Foundation has lowered rates by up to 0.25% across its buy to let range.

Tom Jacob, the lender’s director of product and proposition, said: “Expanding financing options for landlords with complex property types remains a key priority for Foundation Home Loans.

“The launch of Property Plus and HMO Plus is designed to support those who may have faced restrictions under traditional valuation and underwriting criteria in the past.”

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