ModaMortgages expands 80% LTV offering with 5% fee option

Specialist lender, ModaMortgages, has expanded its 80% LTV offering by launching a range of limited edition products with a 5% fee option.

The launch sees the addition of two new 80% LTV products to its single dwelling range, including a two-year fixed rate at 3.59% and a five-year fixed rate at 4.99%, both with a 5% fee option.

The range also features two new 80% LTV small HMO and MUFB products, suitable for properties with up to six bedrooms or units, including a two-year fixed rate at 3.69% and a five-year fixed rate at 5.09%.

The launch is in addition to the recent introduction of 3% and £1,999 fee options to the lender’s 80% LTV range. Landlords can also opt for a 0% fee.

The maximum loan size is £750,000 and products are available to individuals and limited companies. The lender also offers free valuations across its entire range, including on its new limited edition products.

Darrell Walker, group sales director at ModaMortgages, said: “This latest limited edition launch is a further demonstration of our commitment to ensuring brokers and their clients have as much choice as possible.

“This new 5% option, along with the recent introduction of 3% and £1,999 options, gives landlords the chance to explore new opportunities in a market limited with options above 75% LTV, particularly when you factor in allowing the borrower to add the fee to the loan, even at 80% LTV.”