“Since the start of the year, we’ve seen a steady increase in the proportion of landlords looking for two-year fixed rate products,” said Louisa Sedgwick (pictured left), mortgages commercial director at Paragon Bank. “We have responded by launching these competitive rates, with a range of LTVs and fees, providing landlords with plenty of choice.”
Digital lender Molo Finance has also reduced its buy-to-let mortgage rates by up to 25 basis points (bps), with new rates for UK residents starting at 4.35% for two-year fixed buy-to-let products at 75% LTV and five-year fixed rates at 4.96%.
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Specialist property products, including multi-unit freehold blocks (MUFB), HMOs, holiday lets, and investor-led properties, now start from 4.45% for a two-year fixed rate and 5.06% for a five-year fixed rate.
Expats benefit from reduced rates of 4.99% for capital and interest mortgages and 5.74% for interest-only mortgages at 70% LTV. However, non-UK residents see unchanged fixed rates starting from 5.99% for a one-year fixed and 7.74% for a two-year fixed rate, with increased tracker rates starting from 8.65%.
