ModaMortgages has cut rates by 20 basis points across its recently launched limited-edition two-year and five-year fixed-rate buy-to-let (BTL) products.
The reduction means that two-year fixed-rate products now start from 3.34% for single dwelling properties and from 3.44% for houses in multiple occupation (HMO) and multi-unit freehold blocks (MUFB) with up to six bedrooms or units.
Meanwhile, rates for its limited edition five-year fixed-rate products now start from 4.94% for single dwelling properties and from 5.04% for HMO and MUFB properties with up to six bedrooms or units.
Products are available to individual and limited company landlords up to 80% loan to value, with a choice of fee options and free valuations offered across the entire BTL range.
Molo offers biggest cuts to specialist range
Molo has cut rates by up to 10 basis points for landlords borrowing against HMOs and MUFBs, while rates on the specialist lender’s standard range have been trimmed by up to five basis points.
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Following the reductions, standard buy-to-let rates start from 3.05% on two-year fixed rates, while five-year fixed rates start from 4.75%.
Specialist product rates for HMO and MUFB now start from 3.16%, fixed for two years. Those preferring a longer term can fix for five years at 4.84%.
Rates for non-UK residents and expat borrowers remain unchanged with rates starting from 4.78% and 4.58% retrospectively.
Molo’s distribution director, Martin Sims, said: “As market conditions continue to shift, maintaining competitive pricing is key. These latest reductions ensure we remain well-positioned to support brokers and their landlord clients across a broad spectrum of BTL needs, from straightforward cases to more complex property types.”