ModaMortgages expands 80% LTV buy-to-let offering

Specialist lender ModaMortgages is expanding its 80% LTV offering by launching eight new limited edition products with fee options.

The launch sees the introduction of four new 80% LTV products to its single dwelling range, including two-year fixed rates with a choice of a 3% or £1,999 fee from 4.54%, and five-year fixed rates with choice of a 3% or £1,999 fee from 5.34%.

The range also features four new 80% LTV small HMO and MUFB products, suitable for properties with up to six bedrooms or units, including two-year fixed rates with a choice of a 3% or £1,999 fee from 4.64%, and five-year fixed rates from 5.44%.

Landlords can borrow up to £750,000 (subject to affordability criteria and assessments) and mortgages are available to a variety of customers, including individuals and limited companies. The lender also offers free valuations across its entire range, supplied by Gateway Surveyors.

Darrell Walker (pictured), group sales director at ModaMortgages, said: “In a market limited on options above 75% LTV, we’re delighted to be able to raise the roof with products up to 80% LTV with fee options.

“With a choice of either a 3% or £1,999 fee, these products are designed for landlords looking to pay more upfront to benefit from lower fees further down the line and could be ideal for those wanting to raise capital for property improvements or remortgaging after changes.”