Buy to let mortgage rates cut by Landbay, UTB and Molo

Landbay, United Trust Bank (UTB) Mortgages, Molo Finance, and CHL Mortgages for Intermediaries are rolling out reductions and partnerships to bolster affordability and choice for landlords.

Landbay has trimmed rates by 0.10% on its limited edition small HMO (Houses in Multiple Occupation) and MUFB (Multi-Unit Freehold Block) offerings.

Five-year fixed rates now begin at 4.99% for loans up to 75% loan-to-value (LTV), covering borrowing from £150,000 to £500,000.

These adjustments also extend to its new product transfer range, marking the lender’s fifth rate drop this year.

Cut rates on HMO/MUFB options

Rob Stanton, the sales and distribution director at Landbay, said: “Whether it’s introducing new products or reducing rates, we are constantly reviewing our product range to make sure we offer our broker partners a broad range of competitive products to help them support landlord clients of all shapes and sizes.

“It’s great to be in a position to cut rates on in-demand products such as our HMO/MUFB options in two highly-popular product ranges – our popular limited edition range and our new product transfer offering.”

UTB unveils its new rates

UTB Mortgages has reduced its BTL rates by up to 1.76%, aiming to draw in HMO, MUFB and holiday let business.

Five-year fixed rates for standard single dwelling AST properties start at 4.99%, while specialist HMO and MUFB deals kick off at 5.29%.

Buster Tolfree, UTB’s director of mortgages, said: “It has been a bumpy couple of years for landlords and BTL brokers with the sector having to deal with higher interest rates, tougher EPC requirements and uncertainty created by the Renters’ Rights Bill.

“However, in our experience landlords are a resilient bunch and with good quality rental property still in short supply, it’s a sector we’re committed to supporting for the long term.”

MOLO lowers HMO and MUFB rates

Molo Finance has also joined the fray, lowering its HMO and MUFB rates by 0.15% for UK residents and two-year fixed rates now start at 3.23%.

The lender also has five-year options starting at 4.83%, and no additional charges for larger properties with six or more units.

Martin Sims, Molo’s distribution director, said: “Specialist landlords play a pivotal role in the rental market, and they demand competitive finance solutions.

“By reducing HMO and MUFB rates, we are helping intermediaries reduce costs, scale faster and secure long-term growth for their clients, in this evolving market.”

CHL teams up with PRIMIS

Meanwhile, CHL Mortgages for Intermediaries has teamed up with PRIMIS Mortgage Network, granting its brokers access to a diverse BTL portfolio.

This includes standard single dwelling loans, as well as specialist HMO and MUFB products for up to 10 units, alongside options for holiday lets and serviced apartments.

The collaboration enhances PRIMIS’s offerings, catering to a broad spectrum of landlord needs.

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