The range is available to eligible special purpose vehicle (SPV) limited companies across England, Scotland and Wales, covering standard BTL, holiday let and specialist property types.
The mutual will consider houses in multiple occupation (HMOs) and multi-unit freehold block (MUFB) properties, as well as standard rental properties and holiday accommodation.
Furness Building Society has also made the range available to first-time landlords with no minimum experience required. Further, there is no minimum personal income requirement, and affordability will be assessed using an interest coverage ratio (ICR) model based on rental income.
All applications are subject to the mutual’s lending criteria, valuation and underwriting assessment.
Brokers will also have access to business development managers (BDMs) who can review cases before a full mortgage application is submitted.
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Jonathan Cartlidge, head of member and broker strategy at Furness Building Society, said: “Brokers are increasingly supporting landlords who choose to invest through limited companies, and we want to give them more options when finding the right mortgage solution for their clients. By introducing limited company BTL mortgages, we’re expanding our offering to support a wider range of property investors, including those taking their first steps into the rental market.
“Our approach combines flexible lending criteria with the personal service brokers expect from Furness. Whether it’s a straightforward application or a case that needs a closer look, our team is here to understand the details and help brokers explore the options available.”
Fleet Mortgages trims five-year fixed rates
Fleet Mortgages has reduced pricing across its five-year fixes by 0.2%, applied to products with either a 3% or 5% fee.
The reductions cover standard, limited company, HMO and MUFB products up to 75% loan to value (LTV).
Fleet Mortgages’ recently launched five-year fixes with 5% fees for standard and limited company products have been cut from 5.24% to 5.04%, and the HMO/MUFB product has been reduced from 5.49% to 5.29%.
Across its deals with a 3% fee, including options for properties with an Energy Performance Certificate (EPC) rating between A and C, standard and limited company rates have been cut from 5.64% to 5.44% and EPC E-C rates from 5.54% to 5.34%.
HMO rates have been cut from 5.89% to 5.69%, and from 5.79% to 5.59% for properties rated A-C.
The lender said the lower headline rates available across deals with a 5% fee could help landlords meet ICR requirements where rental income and affordability may be restrictive.
Steve Cox, chief commercial officer at Fleet Mortgages, said: “Rates have been on everyone’s mind in recent weeks and months, particularly given last week’s decision to increase bank base rate (BBR). However, as we know, product pricing doesn’t have to follow BBR trends, and it is clearly positive for us to be able to announce rate cuts today.”
He added that he was pleased to reduce pricing on the five-year fixes with a 5% fee, just a week after the products were launched.
Cox added: “While interest rates and funding costs continue to be subject to change, we are always looking for opportunities to improve our pricing where possible, and these reductions demonstrate our commitment to passing on those improvements to borrowers.”
Landbay cuts five-year fixed pricing
Landbay has also reduced five-year fixed rates across its core and core automated valuation model (AVM) ranges, impacting 37 deals.
Rates have been lowered by 0.2%, with core deals at 75% LTV now 5.44% with a 6% fee and 6.24% with a 2% fee.
The same reductions and pricing apply to its core AVM five-year fixes.
Landbay has cut its core product transfer five-year fixes by 0.25%, with free valuation products available at 5.49% with a 6% fee at 70% LTV, 5.74% with a 5% fee at 75% LTV and 6.24% with a 2.5% fee at 78% LTV.
Landbay has also made cuts of 0.2% to its specialist five-year fixed deals, including its small HMO and MUFB products, and options for first-time landlords and specialist small HMO and MUFB product transfers.
The specialist small HMO and MUFB pricing is now 6.09% with a 3% fee at 65% LTV, while at 75% LTV, it is 6.19% with a 3% fee and 5.79% with a 5% fee.
Rob Stanton, sales and distribution director at Landbay, said: “Our core range continues to be an incredibly important part of our lending proposition, and we are pleased to be able to announce these latest price reductions across both our standard and AVM five-year fixed rate products.
“We know that pricing remains a key consideration for advisers and their landlord clients, particularly in the current interest rate environment, and these changes provide further competitive options for those looking to purchase or remortgage investment properties.”
Molo lowers BTL rates by 0.1%
Molo has lowered standard BTL fixed rates by 0.1%, applied to its two- and five-year fixed rates.
The two-year fixes start from 3.6% and five-year fixes from 5.3%, both up to 75% LTV.
Up to 80% LTV, two-year fixes start from 3.65% and five-year fixes from 3.74%.
Products are available at up to 80% LTV, where two-year fixed rates start from 3.65% and five-year fixed rates start from 5.35%.
Martin Sims, distribution director at Molo, said the firm was pleased to pass savings on to borrowers as landlords continued to face a challenging environment where borrowing costs were a key consideration.
He added: “These latest reductions strengthen our proposition for brokers supporting landlord clients, whether they are purchasing a new investment property or remortgaging an existing one. As a specialist lender, we are committed to reacting positively and promptly whenever market conditions allow.”
