ModaMortgages reduces 75% LTV buy-to-let rates

ModaMortgages is cutting rates by up to 15bps on selected 75% LTV standard, HMO and multi-unit freehold block (MUFB) buy-to-let products.

The lender’s range now features standard two-year fixed rate 75% LTV products at 3.44% and standard five-year fixed rates at 4.94%.

Rates for its small HMO and MUFB products, which are suitable for properties with up to six bedrooms or units, now feature two-year fixed rate 75% LTV products at 3.54% and five-year fixes at 5.04%.

Mortgages are available to a variety of landlords, including individuals and limited companies. The lender offers a choice of fee options, as well as free valuations and no application fees across the entire range.

Darrell Walker (pictured), group sales director at ModaMortgages, said: “We’re pleased to announce we’re further able to support landlords with rate reductions of up to 15bps on selected 75% LTV buy-to-let products.

“This latest reduction shows just how committed we are to making sure brokers have the products they need to help meet their clients’ buy to let aspirations at their disposal.”

Last week, ModaMortgages and CHL Mortgages for Intermediaries combined their sales teams. The combination will give the BDMs the ability to help brokers to place cases from across ModaMortgages’ and CHL Mortgages for Intermediaries’ product ranges.