LendInvest Mortgages has reduced rates by as much as 25 basis points across its buy-to-let (BTL) products.
Key reductions include 25bps on five-year holiday let products and a 20bps reduction on all of the lender’s two-year fixed term products.
In addition, LendInvest has reduced selected five- and seven-year BTL products by 5bps.
The new rates are aimed at new business and product transfers and support a variety of BTL mortgage needs, including individuals, limited companies, portfolio landlords, and expats.
LendInvest commercial director Sophie Kettle says: “We’ve seen the steady market demand for holiday lets and we can recognise the investment potential, so that’s why we’re thrilled to offer 25bps off our five-year holiday let products as another one of our attractive finance propositions for existing holiday let owners or those looking to diversify their investment portfolio.”
Elsewhere, Kent Reliance for Intermediaries (KRFI), part of OSB Group, has lowered rates on two- and five-year fixed, variable fee limited edition products.
Rates have also been cut on KRFI’s standard range which includes multi unit freehold blocks with 11 to 20 units.
Limited edition rates on two-year fixes start from 3.69% while five-year fixes start from 4.39%.
Other highlights include rate reductions across all standard fixed products up to 75% loan-to-values (LTVs) and provide choice between fixed or variable fee options.
The entire BTL product transfer range has also been updated with selected rates being reduced by up to 40bps and a variety of fee options including no fee, 1% fee and 3% fee.
OSB Group intermediary director Adrian Moloney comments: “As the leading buy to let specialist, we’ve boosted our support for brokers with landlord customers who are looking to minimise their costs and secure affordable fixed rates for their investments.”
In addition, CHL Mortgages for Intermediaries has cut rates across its short term lets range by a further 30bps.
The range now features two-year fixed rate products from 4.09% and five-year fixed rate products from 4.94%, all at 75% LTV.
Borrowers can choose between 3.5% or 5% fee options on the two-year fixed rate products and between 3.5%, 5% or 7% fee options on the five-year fixed rate products.
CHL Mortgages for Intermediaries group sales director Darrell Walker states: “We’re delighted to announce we’re cutting rates across our short term lets range by a further 30bps.”
