Molo and Natwest cut their BTL mortgage rates

Molo and NatWest have introduced changes to their buy to let (BTL) mortgage offerings, with Molo cutting rates to enhance affordability for UK landlords.

Its two-year fixed rates for standard BTL products now start at 2.68%, while five-year fixes begin at 4.34%, available to both individual and limited company borrowers.

These reductions apply exclusively to UK resident standard BTL products.

Specialist rates are unchanged

Specialist BTL mortgages, covering Houses in Multiple Occupation (HMO), multi-unit freehold blocks (MUFB), holiday lets and new builds, remain unchanged with rates starting at 2.89%.

Non-UK resident rates hold steady at 5.69%, and expat rates begin at 4.75%, with lending available up to 85% loan-to-value (LTV).

No extra fees apply for larger properties with six or more rooms or units.

Martin Sims, Molo’s distribution director, said: “Reducing out standard buy to let rates, again, is all about maintaining sharp affordable options to brokers in a time when rate competitiveness appears paramount to their landlord investor clients.

“Against a backdrop of ever-increasing costs and continued volatility in the swap market, our most recent changes assist UK-based landlords to invest with greater confidence when planning for the long term.”

NatWest BTL is best pick

Meanwhile, Moneyfactscompare.co.uk’s Pick of the Week has spotlighted NatWest’s BTL offering for house purchase customers, featuring a two-year fixed rate at 4.38% until 31 December 2027 at 75% LTV.

The platform’s spokesperson, Caitlyn Eastell, said: “Alongside extending end dates, NatWest has increased all but one of its fixed rate buy to let deals.

“The two-year fixed deal at 75% loan-to-value for house purchase customers has seen a 0.09% rise and is now priced at 4.38% until 31 December 2027.

“Landlords will note that the fee remains at a reasonable £995 which is offset by its free valuation incentive.

“On assessment, this deal earns an Excellent Moneyfacts product rating.”

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