Four lenders reprice buy to let mortgages

Landlords buying or remortgaging properties have lower fixed mortgage rates to choose from after cuts by four lenders.

Molo has reduced all two- and five-year fixes in its Standard buy to let range for UK residents by 10 basis points.

Its two-year rates now start at 3.60%, down from 3.70%, while five-year deals start at 5.30%, previously 5.40%, both at up to 75% loan to value (LTV).

The range covers purchases and remortgages by individuals and limited companies, including first-time and portfolio landlords.

Molo’s distribution director, Martin Sims, said: “Landlords continue to face a challenging environment where borrowing costs remain a key consideration.

“We are therefore pleased to be reducing two- and five-year fixed rates across our Standard buy-to-let range to pass savings on to borrowers.”

Five-year mortgage deals

Landbay has cut rates across 37 five-year fixed products, with reductions of 20 basis points across its Core and Core automated valuation model ranges.

Both now offer rates from 5.44% with a 6% fee at 75% LTV, alongside a 6.24% option carrying a 2% fee.

Its Core Product Transfer five-year rates have fallen by 25 basis points, with free valuation products starting at 5.49% with a 6% fee at 70% LTV.

Selected small HMO and multi-unit freehold block deals have also been reduced by 20 basis points, including options for first-time landlords and product transfers.

Company landlord mortgages

Meanwhile, Fleet Mortgages has reduced all five-year fixes carrying 3% or 5% fees by 20 basis points across its Standard, Limited Company and HMO/MUFB ranges, available at up to 75% LTV.

With a 5% fee, Standard and Limited Company rates have fallen from 5.24% to 5.04%, while the HMO/MUFB rate has dropped from 5.49% to 5.29%.

The Standard and Limited Company deals include a free valuation for properties worth up to £500,000, while the HMO/MUFB option comes with £1,000 cashback.

For borrowers choosing a 3% fee, Standard and Limited Company rates now stand at 5.44%, or 5.34% for properties with an EPC rating of A to C.

Energy-efficient property mortgages

Kensington Mortgages has cut selected rates across its Prime, Prime eKo and Core buy to let ranges by up to 15 basis points, with the changes applying to 75% LTV products.

Prime two-year fixes now start at 3.69% and five-year deals at 4.99%, both carrying a 5% fee.

For properties rated A to C for energy efficiency, Prime eKo rates start at 4.39% for two years and 5.07% for five years, each with a 3% fee.

Kensington also offers free valuations on all buy to let applications, including HMOs and multi-unit blocks.

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