More landlord mortgage rates cut by lenders

Landlords have a fresh round of mortgage rate cuts to explore, with Dudley Building Society reducing selected buy to let and holiday let deals by as much as one percentage point.

InterBay, Aldermore and Coventry Building Society have also changed their landlord mortgage ranges, cutting rates or adding new options for specialist and larger loans.

Dudley’s two-year fixed BTL mortgage at 80% loan-to-value is now priced at 5.50%, down from 6.30%.

Its equivalent two-year holiday let deal at 80% LTV has been reduced from 6.30% to 5.55%.

Dudley’s head of intermediary relations, Paul Purewal, said: “We’ve seen plenty of movement on rates over recent months, and it’s fantastic to be able to make such significant reductions across our range.”

Interbay’s new 65% LTV option

Meanwhile, InterBay has added a 65% LTV option to its buy to let range as part of a series of changes aimed at specialist property transactions.

The OSB Group lender has also introduced a separate pricing band for loans between £10m and £25m, with rates tailored to larger borrowing requirements.

Rates across its BTL and product transfer ranges have been cut by up to 0.20% for new and existing borrowers.

Aldermore unveils special edition

Aldermore has reduced the price of a special edition product switch deal for individual and company landlords with a single residential investment property.

The two-year fixed mortgage at 70% LTV, which has no product fee, is now available at 6.44% following a 0.35% reduction.

Jon Cooper, director of mortgages at Aldermore, said: “We’re committed to delivering real value for brokers and their landlord clients, whether they’re buying their first investment property or reviewing their existing borrowing.”

Coventry’s pick of the week

Coventry Building Society has also reduced a five-year fixed mortgage for second-time landlords borrowing at up to 65% LTV.

The mortgage is fixed at 4.81% until 31 December 2031 and has no product fee. It includes a free valuation and permits overpayments.

The deal has received an Outstanding Moneyfacts product rating and has been named a Moneyfacts Best Buy.

Caitlyn Eastell, the platform’s personal finance analyst, said: “Second-time landlords searching for a new mortgage may be pleased to see Coventry Building Society is among the latest lenders to make reductions to its buy to let range.

“The five-year option at 65% loan-to-value has seen a cut to 4.81% until 31 December 2031, providing five years of peace of mind.

“Further adding to its appeal, the deal doesn’t charge any product fees and is strengthened by its free valuation incentive which may help borrowers looking to keep costs down.”

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