Landlords benefit as lenders cut rates and launch limited editions

More lenders are rolling out competitive buy to let products to attract landlords with Aldermore, HSBC, ModaMortgages and Fleet Mortgages announcing new deals and rate adjustments.

Aldermore has introduced two new limited-edition buy to let products, both at 75% loan-to-value (LTV) with no fees.

The first, aimed at individual and company landlords with single residential properties, offers a two-year fixed rate of 5.79%.

The second targets those with multi-property portfolios, providing a two-year fixed rate of 5.74%.

HSBC updates BTL offering

HSBC has also updated its BTL range, with a standout five-year fixed-rate mortgage at 65% LTV, now priced at 3.89% until 30 November 2030.

Despite a slight 0.05% rate increase, the deal has been highlighted by Caitlyn Eastell from Moneyfactscompare.co.uk.

She said: “Landlords should note that the deal comes with a large £3,999 product fee which is partially offset by a free valuation incentive.

“Despite the increase in rate, this option remains an appealing option and retains its position at the top of its sector.

“On assessment, the deal earns an Outstanding Moneyfacts product rating.”

ModaMortgages expands LTV range

ModaMortgages is expanding its 80% LTV range with new limited-edition products featuring a 5% fee option.

For single dwellings, landlords can choose a two-year fixed rate at 3.59% or a five-year fixed rate at 4.99%.

For small HMOs and multi-unit freehold blocks (MUFBs) with up to six bedrooms or units, rates start at 3.69% for two years and 5.09% for five years.

Darrell Walker, the group sales director at ModaMortgages, said: “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.”

Fleet lowers rates

Meanwhile, Fleet Mortgages has focused on its 75% LTV HMO and MUFB products, announcing rate cuts across both two- and five-year fixed-rate options.

Two-year products now range from 4.24% to 5.89%, with reductions of up to 15 basis points, while five-year deals start at 4.89%, down 10 basis points.

All products include £1,000 cashback and a £199 application fee, with extended end dates to February 2028 for two-year fixes and February 2031 for five-year fixes.

Fleet’s chief commercial officer, Steve Cox, said: “HMOs and MUFBs remain a core part of many professional landlords’ portfolio strategies, so we’re pleased to make meaningful cuts across both our two- and five-year 75% LTV range.”

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