More buy to let lenders reduce rates

A string of leading buy to let lenders have announced rate cuts and product enhancements across the commercial and BTL products as sector competition grows.

InterBay, part of the OSB Group, has trimmed rates by up to 0.50% across its commercial owner-occupier and semi-commercial product lines.

Rates now begin at 5.34%, with reductions designed to help brokers meet growing demand from clients seeking portfolio diversification.

Within its semi-commercial range, for properties where the residential value exceeds 55%, the lender is now offering two-year fixed deals from 5.34% and five-year options starting at 5.89%.

Commercial owner occupier rates have been lowered by 0.20%, with pricing from 6.39% for two-year fixes and 6.74% for five-year terms.

The lender’s head of commercial lending, Marc Callaghan, said: “With demand rising, the commercial market is moving into a stronger position.

“We’ve been able to move quickly to support our brokers and their clients with tangible benefits which include rate reductions, lower fees and more choice across our standard product ranges.”

MFS also lowers its rates

Market Financial Solutions (MFS) has joined the fray with rate cuts across its commercial and semi-commercial buy to let mortgage tiers.

The London-based specialist lender has also enhanced its Fusion Premier product, which consolidates large residential portfolios under a single facility.

Borrowers using Fusion Premier can now access rolled interest terms of up to nine months and deferred interest options up to 2%, providing greater flexibility and leverage.

The lender’s chief executive, Paresh Raja, said: “Reducing our commercial and semi-commercial rates is a natural step in our ongoing commitment to support brokers and clients in this space.

“Meanwhile, as speculation swirls around the Autumn Budget, the enhancements to our Fusion Premier product will help portfolio landlords find the speed and flexibility that moments of uncertainty require.”

YBS Commercial unveils lower rates

YBS Commercial Mortgages has also announced widespread rate reductions, with cuts of up to 0.40% and the launch of a refreshed product range aimed at landlords, investors and business owner-occupiers.

The lender’s specialist HMO product has seen the largest drop, with rates now starting at 5.00% for a five-year fix up to 75% LTV, while business owner-occupiers can access a 6.40% five-year fix for loans exceeding £1 million.

Buy to let rates have been reduced by as much as 0.20%, with highlights including a 4.25% five-year fix up to 70% LTV.

Commercial investment products are up to 0.15% cheaper.

Angela Norman, the managing director at YBS Commercial, said: “These changes reflect our ongoing commitment to supporting brokers and their clients with competitive solutions that meet real-world needs.

“Whether it’s landlords expanding portfolios, investors seeking stability, or business owners planning for growth, our refreshed range is designed to help them move forward with confidence.”

TMW improves application process

Meanwhile, The Mortgage Works (TMW) has rolled out enhancements to its application process and improved support for limited company landlords.

For the first time, TMW is introducing a Decision in Principle (DIP) for limited company purchase and remortgage cases.

The move follows earlier improvements such as pre-application checks via Companies House to streamline the process.

The lender is also updating its shareholder policy, allowing minority shareholders with holdings of 20% or less, up to a combined 25%, to remain outside the mortgage arrangement, avoiding credit checks and personal guarantees.

DIPs will now leave only a soft footprint on credit files, giving landlords greater certainty earlier in the process.

Dan Clinton, TMW’s head of buy to let mortgages, said: “As one of the country’s leading buy to let lenders, we always aim to make the application process as smooth and quick as possible to support brokers and their landlord clients. ”

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