More BTL lenders cut rates and raise LTV limits

Another batch of buy to let lenders have made changes to their landlord offerings with Market Financial Solutions reducing rates across its fixed-rate bridging loan portfolio.

Residential single loans now start at 0.70%.

The rate cuts extend to portfolio loans, second charge, light development, semi-commercial, commercial and development exit loans, with lower rates also available for larger residential and commercial deals.

The lender’s chief executive, Paresh Raja, said: “With the market getting more competitive, bridging loans will help investors and brokers move with speed and flexibility in the coming weeks, and I’m confident they’ll find great value in our new fixed rates.”

RAW increases its LTV

Guernsey-based RAW Capital Partners is marking its 10-year anniversary by increasing its loan-to-value (LTV) limit to 70% from 1 July.

The RAW Mortgage Fund, which supports UK expats, foreign nationals and Channel Islanders, previously offered a maximum LTV of 55%.

The new single 70% LTV first charge aims to simplify financing for overseas investors.

Its chief executive, Tim Parkes, said: “As we celebrate a decade of successful, disciplined lending, this increase to our LTV limit represents a natural next step for our proposition – one that continues to evolve in line with the needs of expats and overseas investors.

“Too often, these borrowers are underserved by traditional lenders, and this change puts us in an even stronger position to bridge that gap with speed, flexibility, and clarity.”

NatWest best BTL deal

Meanwhile, landlords looking for the best BTL deals will find the latest Moneyfactscompare.co.uk findings interesting.

It says there are two great deals on offer in the buy to let market with NatWest and Skipton Building Society unveiling competitive mortgage deals.

NatWest’s two-year fixed-rate mortgage at 75% LTV, priced at 4.78% until 31 August, targets house purchase customers with a 25% deposit.

The platform’s spokesperson, Caitlyn Eastell, said: “Despite the rise, this deal continues to sit among the best in its sector and earns an Excellent Moneyfacts product rating.

The deal includes a free valuation and no product fees.

Skipton lowers its BTL rates

Skipton Building Society’s two-year variable tracker rate mortgage at 60% LTV has been reduced by 0.14% to 5.05%.

Ms Eastell said: “This week, Skipton Building Society has refreshed its buy to let range, including its variable tracker rate offerings.

“The two-year deal at 60% loan-to-value has seen the largest cut, by 0.14% to 5.05%.

“Landlords will find a free valuation incentive is included and, for remortgage customers, free legal fees.”

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